Swiss Sportswear Brand On Signs Soccer Star Kylian Mbappé
Zurich, Friday, 18 September 2026.
Kylian Mbappé ended his Nike partnership to join On Holding, securing an equity stake as the Swiss brand expands into soccer, sending its stock up 5.6%.
Market Disruption and Stock Reaction
On Friday, 18 September 2026, Swiss athletic brand On Holding AG announced a landmark partnership with French soccer superstar Kylian Mbappé, marking a significant shift in the global sportswear landscape [1][2][3]. The 27-year-old Real Madrid striker has ended his long-term contract with Nike Inc. to become the face of On’s expansion into football footwear, a deal that includes an equity stake in the company [2][3]. Investors reacted positively to the news, with On Holding shares jumping 5.6% in premarket trading on the day of the announcement [3]. In contrast, legacy competitors saw slight declines, with Nike Inc. and Adidas AG dipping 0.8% and 1% respectively, creating a performance spread of 6.4 percentage points between On and Nike on the day [3].
Strategic Expansion Beyond Running
This partnership signals On Holding’s ambitious move beyond its core running shoe market into mass-market team sports, directly challenging incumbent giants for premium market share [1][3]. The strategy mirrors the company’s 2019 expansion into tennis via a deal with Roger Federer, aiming to leverage high-profile endorsements to drive brand equity [2]. To support this football venture, French legend Thierry Henry has been confirmed as Director of Football, having worked behind the scenes on product strategy since 2025 [2][3]. Additionally, Swiss international Sydney Schertenleib, who joined the brand in December 2025, will collaborate on developing products tailored for the women’s game ahead of the FIFA Women’s World Cup in summer 2027 [2].
Financial Growth and Product Timeline
On Holding enters this new category following a period of robust financial growth, reporting 2025 net sales of £2.73 billion, which represented a 30% year-on-year increase [2]. The company plans to launch its premium football boots to the retail market in 2027, utilizing proprietary LightSpray manufacturing technology adapted for professional performance [2][3]. While the retail launch is scheduled for 2027, Mbappé is expected to begin wearing the new footwear on the field in the coming weeks during Autumn 2026 [2]. This timeline allows the company to integrate the athlete’s feedback into final development while generating immediate media visibility [2][3].