- Nike Inc (NYSE: NKE) recently announced it is buying RTFKT. These are the details.
NIKE, Inc. (NYSE: NKE) recently announced the acquisition of RTFKT — a leading brand that delivers next-generation collectibles that merge culture and gaming. Launched in 2020, by Benoit Pagotto, Chris Le, and Steven Vasilev, RTFKT is known as a pioneering and innovative brand that redefines the boundaries of physical and digital value to serve its broad community of creators. This dedicated team utilizes the latest in game engines, NFTs, blockchain authentication, and augmented reality to create one-of-a-kind virtual products and experiences.
The terms of the deal were not disclosed.
KEY QUOTE:
“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.”
— John Donahoe, President and CEO of NIKE
“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.”
— Benoit Pagotto, one of RTFKT’s co-founders
