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Kylian Mbappé Laces Up With On
Courtesy of On
French soccer superstar Kylian Mbappé is leaving Nike — his footwear home since he was a teenager — to launch Swiss brand On’s new soccer division.
Why It Hits: Nike and Adidas have had a stranglehold on the sports-footwear industry for decades, with soccer remaining an almost unbreakable fortress. But buzzy new brands like Hoka and On (which gained ground in running shoes) and resurging legacy labels like New Balance and Reebok are gaining enough traction to potentially break up the duopoly. That could make for some exciting competition.
Behind The Kicks: Mbappé sent shockwaves through the soccer world with his signature-shoe switch.
Mbappé left to debut and build On’s new soccer division, while also becoming the company’s most important global sports ambassador.
He’ll work directly with the company’s team in Zurich to “test and refine future football footwear and apparel built around On’s proprietary LightSpray spray-on textile technology,” according to Hypebeast.
Additionally, legendary soccer manager Thierry Henry — who had stints at Arsenal, Barcelona, and France’s national team — has become On’s Director of Football, where he’ll “oversee strategic growth, athlete relationships, and product direction.”
Last Goal: With Mbappé’s move, all eyes are now on Nike to see how it pivots. The company has been going through kind of a rough patch lately, even as new CEO Elliott Hill works to rebuild the brand and get sales moving again. Still, the company’s narrative hasn’t fully recovered, and it even fell off the S&P 100 — something that didn’t seem possible a decade ago.
Hill has publicly doubled down on soccer since the explosive popularity of this year’s World Cup. Losing Mbappé is a major setback to that ambition… but now the brand has an opportunity to put Norwegian star Erling Haaland, its second most-famous soccer athlete, front and center.
Next Match: Prepare for Nike to build an entirely new line around Haaland that not only includes some groundbreaking tech but also leans into his high-fashion style. That may be one reason Nike added LVMH’s Alexandre Arnault to its board.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.