Jay-Z, Meek Mill, Lil Baby, and Michael Rubin’s Fanatics are among those behind the reported $250M acquisition of the legendary sports apparel brand.
Mitchell & Ness remains a fixture in the culture but it’s now under new ownership. Michael Rubin’s Fanatics, Jay-Z, Meek Mill, Lil Baby, and more have now acquired the brand in a reported $250M deal from Juggernaut Capital Partners, per Complex. The acquisition of the brand breaks down into 75% Fanatics and 25% other parties, including Hov, Lil Baby, Meek, Maverick Carter, and the D’Amelio family.
“I’m incredibly excited for Fanatics to partner with this incredible group of innovative owners to build upon the company’s already strong business that has kept the brand culturally relevant for more than 100 years,” Rubin said. “Growing up as a kid in Philadelphia, we looked at Mitchell & Ness as a badge of pride, and I truly believe this legendary brand has no limit.”
With cultural behemoths like Jay-Z, Meek Mill, and Lil Baby behind the acquisition, the brand will operate under the Fanatics as an independent entity with CEO Kevin Wulff maintaining his title. Mitchell & Ness will continue to focus on men’s & women’s streetwear and other products to help elevate the brand further.
“Fashion is cyclical, but classics are forever,” Jay said in a statement. “Mitchell & Ness is a true classic. I was an early adopter of this brand, as well as a part of a departure from athletic wear. I’m proud to play a small role in bringing it back, and in some cases, introducing the authenticity and quality of the Mitchell & Ness brand to a new generation.”
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