Nike has appointed Alexandre Arnault, deputy CEO of Moët Hennessy, to its board of directors. Arnault previously led the luggage manufacturer RIMOWA and served as an executive vice president at Tiffany & Co. His professional background includes roles at LVMH, Agache, McKinsey, and KKR, with a focus on digital transformation and brand development.
During his tenure at Tiffany & Co., Arnault oversaw a project involving CryptoPunks, where the brand sold 250 NFTiff passes at 30 ETH each, generating approximately $12.7 million. Arnault himself is a known owner of a CryptoPunk NFT, marking him as an early adopter of digital collectibles within the luxury sector.
Nike's recent corporate strategy under CEO Elliott Hill emphasizes physical products and wholesale partnerships, moving away from speculative digital assets. The company previously acquired the digital sneaker studio RTFKT in 2021, but shut down its Web3 operations in December 2024 and sold the studio in December 2025 to an undisclosed buyer.
The appointment occurs as Nike faces significant financial challenges. The company's stock closed at $35.78 per share, nearing a 12-year low, and its total market capitalization has declined to approximately $53 billion over the past year. The company is currently prioritizing core business growth to address these market conditions.
