Nike appoints CryptoPunk owner Alexandre Arnault to board

Nike has named Alexandre Arnault to its board of directors. The company had offloaded its NFT studio RTFKT in December 2025, nine months before this appointment.

Alexandre Arnault serves as deputy CEO of Moët Hennessy, the wine and spirits division within LVMH Moët Hennessy Louis Vuitton. The conglomerate is led by his father, Bernard Arnault. Additionally, Arnault holds a CryptoPunk non-fungible token.

What Alexandre Arnault Brings to Nike

The appointment was announced by Nike on Wednesday. Executive Chairman Mark Parker highlighted Arnault's track record with established brands.

"Alexandre has earned a reputation for helping iconic global brands evolve, innovate and grow in a changing, complex marketplace."

Chief Executive Elliott Hill additionally referenced Arnault's efforts in digital transformation and brand development.

On X, Arnault described the board role as an honor and noted the company's legacy in sports and innovation.

Incredibly honored to join the Board of Directors of @Nike.

I’ve been a lifelong fan of the brand and everything it stands for: sport, innovation, creativity and constantly pushing what’s possible.

Excited to contribute to what comes next.

Just Do It. ✔️ pic.twitter.com/gWlvGgQ9Uq

— Alexandre Arnault (@alexarnault) September 16, 2026

Prior to these roles, Arnault was CEO of Rimowa, a luggage company, and served as executive vice president at Tiffany & Co. for four years. Before that, he managed digital innovation and technology investments at LVMH and Agache, the family holding company of the Arnaults. He also worked at McKinsey and KKR. Arnault additionally holds a seat on LVMH's board.

At the jeweler, he was most aggressive in Web3 initiatives. In 2022, Tiffany converted his CryptoPunk into a diamond pendant. Subsequently, the company sold 250 NFTiff passes to CryptoPunk owners for 30 ETH each. The collection was valued at about $12.7 million at that time.

When punks go wild at @TiffanyAndCo

#3167

Rose gold and enamel Cryptopunk.

Sapphire and Mozambique baguette Ruby glasses, yellow diamond round earring.

LFG! pic.twitter.com/M2c8AmwU0R

— Alexandre Arnault (@alexarnault) April 7, 2022

The Swoosh Already Walked Away From Web3

Nike acquired RTFKT, a digital sneaker studio named meaning "artifact", in 2021. Nonetheless, in December 2024, the company ended its Web3 operations. RTFKT shut down the following month.

In April 2025, holders filed a lawsuit demanding $5 million and characterizing the closure as a rug pull. Eight months later, Nike sold the studio to an undisclosed buyer. The financial terms and buyer identity were not disclosed.

Since becoming CEO, Hill has reduced non-essential expenses. His focus leans toward physical merchandise and wholesale partners rather than risky digital collectibles.

The broader collectibles market continues to decline. NFT values are close to all-time lows.

Arnault becomes a director during a difficult period for Nike's stock. Wednesday's close was $35.78, a drop of 1.21% and near a 12-year low. Over the last year, the company's market capitalization has shrunk by about half to roughly $53 billion.

Hill consequently divested the crypto division to finance a shift back to physical sports. Arnault arrives on Nike's board as an early adopter of crypto within the luxury sector.