Kylian Mbappe receives shares in On as he jumps ship from Nike deal
Swiss sportswear brand On has pulled off a marketing coup by luring Real Madrid and France striker Kylian Mbappe from Nike to launch its football products.
Mbappe, who was previously on a £13m-a-year contract with Nike, is working alongside former Arsenal, Barcelona and France star Thierry Henry to develop On’s forthcoming football range.
The 27-year-old joins tennis icon Roger Federer, six-time Grand Slam winner Iga Swiatek among and high-profile endurance athletes among On’s stable of ambassadors.
Like Federer, Mbappe has received shares in On as part of the deal, which a spokesperson for the company told City AM was an “entrepreneurial relationship with a competitive incentive structure that includes both cash and equity components”.
“From the beginning, what drew me to On was the opportunity to build something entirely new together that will help shape tomorrow’s game,” said Mbappe.
“I want to bring my experience and perspective into what we create, push what’s possible through innovation, and always stay true to the joy of football. We have a shared dream, and this is only the beginning.”
He will help to develop and test On’s products alongside fellow countryman Henry, who has been guiding the company’s football project since last year.
Nike rocked again as Mbappe leaves for On
The brand launched in running in 2010 and has focused on high-tech engineering, including making shoes by spraying thermoplastic filament onto a mould to create an upper.
“Football doesn’t need another sportswear brand to do more of the same,” said founder and CEO David Allemann.
“Football needs new ideas and a challenge to what is possible. When we enter a sport, we want to be the brand of the future – through true innovation and contemporary design.
“Our ambition is to bring On’s approach to the pitch, the pavement, and the runway – connecting elite performance with the culture that surrounds the game. With Kylian we have the perfect partner to dream what football can become.”
On says its first football range is still in development and is expected to be launched next year. It will include footwear – including football boots made with its patended LightSpray technology – as well as apparel.
His decision is another blow for Nike, however, which has been rocked by falling sales, loss of cultural capital and stronger rivals, resulting in its market cap falling from £200bn to £40bn.