On vs Under Armour

On signs Mbappé as it preps soccer entry

Swiss sportswear brand On has officially entered the soccer market by signing French superstar Kylian Mbappé as its newest brand ambassador. Mbappé, captain of the French national team and Real Madrid striker, will collaborate with product developers to test and refine future football footwear and apparel, marking a shift from traditional endorsements. The announcement coincided with Thierry Henry's appointment as Director of Football and the expansion of Swiss national player Sydney Schertenleib's role to include product development. On plans to leverage its LightSpray technology for football products, representing its largest step beyond running. Analysts view this as a strong start but caution about challenges competing with Nike and Adidas, citing performance credibility and low margins on cleats.

• On signed Kylian Mbappé as brand ambassador for its football division; financial terms and duration were not disclosed.
• Mbappé will work with product developers to test and refine football footwear and apparel.
• Thierry Henry was appointed Director of Football, a new role at On.

On to Host Investor Day on Tuesday, September 22, 2026

On announced it will host an Investor Day on September 22, 2026. The announcement was added to the newsroom on September 8, 2026.

On launches limited sneaker honoring Federer

On, the Zurich-based sports brand, is releasing a limited edition of its 'THE ROGER Centre Court' sneaker to mark Roger Federer’s induction into the International Tennis Hall of Fame. The campaign includes a film titled 'The Boy from Basel' that traces Federer’s youth, and On will sell the 'International Tennis Hall of Fame Edition' exclusively via on.com starting August 25, 2026. The edition is globally limited to 20,000 pairs and features Ivory and Fern colors, a grass-green insole (reportedly suggested by Federer) and a gold racket emblem on the heel. The article notes Federer has been an investor and brand ambassador for On since 2019 and held a stake following On’s 2021 IPO.

• On is launching a limited special edition of the model 'THE ROGER Centre Court' to mark Roger Federer’s Hall of Fame induction.
• On will make the 'International Tennis Hall of Fame Edition' available exclusively on on.com from August 25, 2026 (per the article).
• The edition is limited worldwide to 20,000 pairs according to the company statement.

Under Armour ends Project Rock partnership

Under Armour has ended its decade-long partnership with Dwayne “The Rock” Johnson’s training brand Project Rock, calling the relationship a “natural conclusion.” Project Rock, founded in 2017, will continue to be sold through October as it pursues independent product, storytelling and experience initiatives. The move follows Under Armour’s recent split with Steph Curry and comes amid a broader marketing reset in which the company is rebalancing marketing spend and shifting to new ambassadorships such as François Arnaud and K-pop group BoyNextDoor.

• Under Armour ended its partnership with Dwayne “The Rock” Johnson’s Project Rock after roughly a decade.
• Project Rock was founded in 2017 and developed footwear, apparel and accessories through its relationship with Under Armour.
• Under Armour said the partnership reached a “natural conclusion” and will continue to sell Project Rock through October.

Under Armour's 'Rest Less' Social-First Campaign

Mox London developed Under Armour’s 'Rest Less' creative platform after winning the account in a competitive 2025 pitch. The campaign builds a fictional luxury property, Hotel Armouré, around three contracted footballers — Ollie Watkins, Fermín López and Ferran Torres — and positions high-production films as social-first episodes that later ran on TV and in cinemas. Mox integrated hand-picked creators into the storytelling, used an AI-created teaser, and emphasized native social pacing and formats. The campaign was directed by Mackenzie Sheppard, features actor Nick Mohammed as hotel manager Fergus, and involved in-camera branding and detailed production craft. Under Armour framed 'Rest Less' as an off-season extension of its 'Be the Problem' platform and intends to continue investing in sports-born, socially native creative.

• Mox London won the Under Armour account in a competitive pitch in 2025 with the 'Rest Less' strategy.
• The campaign centers on a fictional luxury Hotel Armouré and stars Under Armour-contracted footballers Ollie Watkins, Fermín López and Ferran Torres.
• The work was conceived as social-first (tease, launch, sustain), included an AI-created teaser, and later ran on television and in cinemas.

Under Armour Cuts Revenue Outlook, Keeps Profit Targets

Under Armour reported a 3% year-on-year revenue decline in Q1 of fiscal 2027 to $1.1 billion and has lowered its full-year revenue outlook to a mid-single-digit decline due to weaker demand, particularly in North America and Asia-Pacific. North America revenue fell 9% to $610 million while international revenue rose 5% to $490 million, with EMEA up 12%. Gross margin improved by 5.9 percentage points to 54.1% (partly due to reimbursement of prior duty costs). Operating income was $47 million (adjusted $52 million) and net income was $1 million (adjusted $21 million). Restructuring charges were $6 million in Q1, with cumulative program costs of $266 million and an expected total of about $305 million; the program is to be largely completed by end-December 2026. The company reaffirmed its operating income and adjusted EPS targets and emphasized cost discipline and a premium strategy.

• Under Armour Q1 fiscal 2027 revenue fell 3% year-on-year to $1.1 billion.
• North America revenue declined 9% to $610 million; international revenue increased 5% to $490 million; EMEA grew 12% while Asia-Pacific was down.
• Gross margin rose 5.9 percentage points to 54.1%; operating income was $47 million (adjusted $52 million); net income was $1 million (adjusted $21 million).