On Holding signs Kylian Mbappé in a 10-year partnership

• On Holding (ONON) is expanding into the football and golf markets.
• Kylian Mbappé has ended his 20-year partnership with Nike (NKE) to join On as a partner and global brand ambassador, and will be involved in product development for next-generation football boots.
• Thierry Henry has also joined On as its 'Director of Football', emphasizing the brand's commitment to genuine innovation rather than chasing trends.
• On aims to capture a 'sizable slice' of the $40 billion football market, currently dominated by Nike, Adidas (ADDYY), and Puma (PUMSY).

On Holding is making a significant strategic move into the football market by signing superstar Kylian Mbappé as a partner and global brand ambassador, and bringing in Thierry Henry as Director of Football. This aggressive expansion aims to challenge established giants like Nike and Adidas in the multi-billion dollar football market, with Mbappé also taking on a product development role.