Michael Rubin’s Fanatics, Jay-Z, Meek Mill, Lil Baby, and others have acquired the iconic jersey fashion brand Mitchell & Ness.
“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,” the Philadelphia 76ers partner and Fanatics CEO 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.”
The deal breaks down with 75 percent going to Fanatics with 25 percent going to other parties such as JAY-Z Meek Mill, Maverick Carter, Lil Baby, and the D’Amelio family.
“Fashion is cyclical, but classics are forever. Mitchell & Ness is a true classic,” Jay-Z said of the acquisition. “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.”