On signs Mbappé, enters football with first boots due 2027

On, the Swiss sportswear firm, has signed Kylian Mbappé as global ambassador and shareholder, ending his two-decade Nike deal. The company is entering football with its first boots planned for 2027 and has hired Thierry Henry to lead the division. This marks a strategic pivot into football, leveraging a top-tier athlete to challenge incumbents, with potential market implications for On's growth trajectory.