Companies

Nike accelerates its digital transformation

Dec 14, 2021 United States

The company has announced the acquisition of RTFKT, which is a brand known for creating viral sneakers designs and collectible exclusives. The terms of the deal will not be disclosed

“This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture. We’re acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities”, explains John Donahoe, President and CEO of NIKE, Inc. In October, Nike had filled trademark applications as part of its preparation to sell virtual goods.

Founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, RTFKT’s brand aims at redefining the boundaries of physical and digital value to serve their broad community of creators. The brand leverages the latest innovation in game engines, NFT’s, blockchain authentication and augmented reality, combined with manufacturing expertise, to create one of a kind digital artefacts and experiences.

“This is a unique opportunity to build the RTFKT brand, and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love. Nike is the only brand in the world that shares the deep passion we all have for innovation, creativity and community, and we’re excited to grow our brand which was fully formed in the metaverse”, commented Benoit Pagotto, one of RTFKT’s co-founders.

Image Credits: highsnobiety.com

Innovation United States Acquisitions Digital Nike Sneakers Technology