Mbappé leaves Nike, joins On Holding as brand ambassador with equity stake

Football star Kylian Mbappé has ended his long-standing partnership with Nike and signed with Swiss sportswear firm On Holding AG, receiving an equity stake and becoming a brand ambassador. This marks a significant endorsement shift that could impact On's brand visibility and market positioning, though financial terms are undisclosed. The move is notable for On's growth strategy in the competitive athletic apparel market.