The future of creator partnerships? Equity offer helps lure Kylian Mbappé from Nike

Kylian Mbappé has swapped his long-running partnership with Nike for Swiss sportswear brand On, with equity reportedly helping the challenger secure the football star.

It is the latest sign that equity is becoming a bigger draw for talent, sweetening offers with the prospect of sharing in the value they help create.

The partnership will see Mbappé become a global ambassador for On as the company enters football for the first time. He will also work with its product teams on future football footwear and apparel.

According to The Athletic, Nike was prepared to offer Mbappé roughly the same base compensation as On, but was unable to match the equity component of its offer. The agreement also includes bonuses if Mbappé wins major competitions and is expected to run for around a decade.

Equity deals have long been used to attract high-profile talent, but they are increasingly showing up in creator partnerships too.

Beauty brands have been among those sweetening creator deals with ownership stakes this year. In July, ESW Beauty named Katie Fang and Aliya Rachinski as its first creator equity partners, giving both stakes in the company alongside roles in product development and campaign strategy.

In March Gen Alpha skincare brand Evereden also awarded equity stakes to three teenage creators through its Generation E programme, bringing them into areas such as product development

Mbappé’s departure also comes during a difficult period for Nike. The sportswear giant is set to leave the S&P 100 after almost 18 years in the index, following a steep decline in its market value. It will remain in the broader S&P 500.

As it works through a wider turnaround, Nike has also been broadening its approach to talent, increasingly working with creators alongside its traditional roster of athletes. Streamer Marlon Garcia signed a long-term deal with Nike earlier this year, while the company has also worked with creators including Kai Cenat and Plaqueboymax.