Just Do it.
Nike is interesting. Interesting company, super interesting history. If you've not read "Shoe Dog", do so. It is brilliant!
Nike's M&A strategy is sound, with 14 Acquisitions and nine investments. A mix of media, brands and marketing technology, but I want to pick up on one particular acquisition that could prove to be a master move.
On the 13th of Dec 21 - Nike Inc Acquires RTFKT.
"This acquisition is another step that accelerates Nike's digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture," says John Donahoe, President and CEO of NIKE, Inc. "We're acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike's digital footprint and capabilities."
That's a statement found on Nike's news website. It sums up nicely how important this acquisition is to the future of the company.
A real-life product, a shoe and its representation in the Metaverse. You want Jordans on your avatar right? - So you go to the virtual Nike store and buy them, with real money...
Although the deal details are not disclosed, Andreessen Horowitz valued it at $33 million. Nike could have paid 10x that it would still be money well spent.
Most businesses can use some form of this strategy to grow via merger or acquisition. It's not all uber-trendy crypto-creators. If you want to know more about how your business can grow with M&A, our diary is always open for bookings, so please drop us a message, or schedule a call on the meeting link in the comments.
Demystifying M&A with accessible acquisition strategies, advice and action. We are Orb