Although I doubt I’ll be entertaining the throwback jersey trend that will be making a push for return, I do support the aquisition of owning what we allowed to mold our culture. Owning the brands and companies in which we single handedly feuled to the forefront of coporate America. As a kid who sold my 1,000 plus Mitchell & Ness collection for profits to persue music and help my single home family, I always imagined owning my own clothing brand company with atleast half of the cultural influence. Jackets, hoodies, hats and sweatshirts will most likely be the bulk of my future purchases but I am very interested to see future designs. I’m not expecting the culture to fully embrass the praise of national sports teams as we once did but with a name solidified into American culure they do not need us to. They will continue to capatilize and open up job oppertunitied for the future creators.
Jay-Z, Meek Mill, Lil Baby, Maverick Carter, Fanatics, the D’Amelio family and more have officially acquired iconic lifestyle brand Mitchell & Ness from former owner Juggernaut Capital Partners. The announcement came early Friday (Feb. 18).
“Fashion is cyclical, but classics are forever,” Jay-Z 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.”
Founded in 1904, Mitchell & Ness remains a go-to shopping hub for nostalgic sports jerseys, licensed lifestyle products, street fashion staples and stylish head gear. The company has secured major deals with the NBA, NFL, MLB, MLS and various NCAA schools.
Fanatics CEO Michael Rubin said in a statement, “Mitchell & Ness is an iconic brand and 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.”
While new co-owner Fanatics is also a fan-favorite sports apparel vendor, Mitchell & Ness will continue operating as a separate, distinct brand within the Fanatics Commerce division. Powerhouse company Baird was the sole financial adviser for Mitchell & Ness throughout the new acquisition.
The deal aims to advance the licensed sports industry by merging Mitchell & Ness’ business model with Fanatics’ platform and global reach. The diverse team of co-owners intends to increase Mitchell & Ness’ international scope, expand product portfolio and gain new entertainment, league and college rights.
As part of the deal, current Mitchell & Ness CEO Kevin Wulff will assume the same position and report directly to Joe Bozich, president of Fanatics. Additionally, all 132 Mitchell & Ness employees located in Philadelphia and Irvine, Calif. (plus select international markets) will immediately be transitioned as Fanatics employees without relocating.
