Agenda-setting intelligence, analysis and advice for the global fashion community.
Nike’s surprise 2021 acquisition of the virtual sneaker brand RTFKT is the latest addition to the list of pandemic-era crypto bets that ultimately didn’t pan out.
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RTFKT hasn’t slowed down since Nike acquired the company last year. Its founders have a bold vision for their brand’s future as they seek to bridge the digital and physical worlds.
Virtual fashion brand RTFKT rocketed from launch to Nike acquisition in less than two years. The man on the joystick isn’t a Silicon Valley geek but a French provocateur with a radical business vision and a warning for the fashion industry: ‘A lot of brands are going to die.’
The company, which specialises in virtual sneakers and other accessories, was bought by the sports giant. The terms of the deal were not disclosed.
Marc Bain is Technology Correspondent at The Business of Fashion. He is based in New York and drives BoF’s coverage of technology and innovation, from start-ups to Big Tech.
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