Alexandre Arnault Joins Nike Board Amid NFT Ownership Focus

Nike has appointed Alexandre Arnault to its board of directors. The brand sold RTFKT, its NFT studio, in December 2025, nine months before this appointment.

Alexandre Arnault is a deputy head of Moët Hennessy, part of LVMH Group, and also owns CryptoPunks. His father, Bernard Arnault, runs the group.

Nike confirmed the appointment on Wednesday. Chairman Mark Parker highlighted Arnault's track record in renowned brands. CEO Elliott Hill praised his digital transformation and brand-building experience.

Alexandre Arnault described joining the board as an honor on X, referencing Nike's legacy in sports and innovation.

Previously, Arnault ran Carrier manufacturer Remo and served as deputy chairman at Tiffany & Co. He also worked on digital innovation and tech investments at LVMH and Arnaud Group holding company Agache. His career includes stints at McKinsey and KKR.

In jewelry, he actively integrated Web3: In 2022, Tiffany turned his CryptoPunk into a diamond pendant. The brand later sold NFTiff passes to CryptoPunk holders for 30 ETH each, generating around $12.7 million in revenue from 250 sales.

Nike has already exited Web3: It acquired RTFKT, its digital sneaker studio under 'Artifacts,' in 2021 but announced the end of Web3 operations in December 2024. The company shut down the business a month later.

Owners sued Nike in April 2025 seeking $5 million in damages and called the shutdown a 'rug pull.' Nike sold the studio to an undisclosed buyer eight months later, with terms kept private.

Hill has focused on cutting non-core costs post-appointment. His strategy emphasizes physical products and wholesale partners over speculative digital collectibles.

The broader collectibles market continues to decline, with NFT valuations stuck at historic lows.

Nike shares closed Wednesday at $35.78, down 1.21%, near a 12-year low. The company's market cap has halved over the past year to approximately $53 billion.

Hill sold Nike’s crypto division to fund a return to physical sports products. Arnault becomes the first LVMH member to join Nike’s board, marking one of the earliest entries into cryptocurrency within luxury goods.