[Theory5]

>"Nike sued MSCHF last week claiming the "Satan Shoes [were] likely to cause confusion and dilution and create an erroneous association" between MSCHF's products and the company. "

Nike felt the way the shoes were marketed and sold was confusing enough that people might assume these were official Nike shoes.

If you're speaking about the resale doctrine when you say "right of first" in trademark law it appears that altering the goods so they are materially different is where the line is drawn.if you substantially alter them, it sounds like you don't retain the rights and protections under the resellers doctrine.

https://en.wikipedia.org/wiki/First-sale_doctrine