The footwear and apparel brand and retailer, which is the No. 10 publicly owned consumer goods company, intends to invest in the RTFKT brand to extend Nike’s digital footprint and capabilities. Terms of the teal weren’t disclosed.
Pagotto described Nike as the only brand that shares RTFKT’s deep passion for innovation, creativity and community.
“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,” he said in a statement, adding on Twitter that RTFKT’s goal since its founding has been to create the "Nike born on the Metaverse."