Shawn “JAY-Z” Carter, Meek Mill, Lil Baby, Michael Rubin’s Fanatics, Maverick Carter, Charli and Dixie D’Amelio (and their parents Marc and Heidi D’Amelio), and more of the biggest names in sports, entertainment, and culture announced they have teamed up to buy iconic lifestyle brand Mitchell & Ness from Juggernaut Capital Partners. Around 25% of the company will be owned by the strategic investment group, which includes some of the most well-known figures in sports, entertainment, and culture.
“Fashion is cyclical, but classics are forever. 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,” Shawn “JAY-Z” Carter said in a statement. “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.”
Fanatics CEO Michael Rubin added, “Mitchell & Ness is an iconic brand and a pioneer within our industry. 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. 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.”
Mitchell & Ness already boasts a strong brand but now will expand by utilizing its customer database and strong relationships with sports properties. In addition, the new ownership group will use their combined expertise to grow the brand by investing in growing the brand globally, continuing to elevate the brand’s cultural relevance, expanding the product portfolio, and bringing in new league, team, college, and entertainment rights.