JAY-Z, Meek Mill, Lil Baby formed a strategic investment group to acquire Mitchell & Ness — the iconic athletic apparel company known for the popular throwback jersey that Hip-Hop made a worldwide trend.
Mitchell & Ness Acquired By Jay-Z
JAY-Z, Meek Mill, Lil Baby are making more power moves this #BlackFutureMonth with their joint acquisition along with the Fanatics company of the iconic Mitchell & Ness athletic apparel brand.
Mitchell & Ness is one of the most respected athletic apparel brands in licensed sports and in Hip-Hop. Back in the 90s, the brand was popular for its Negro League retro baseball apparel and was the source for authentic throwback jerseys that JAY-Z made trendy.
The breakdowns of the deal followed with 75% ownership by Fanatics and the other 25% being shared among JAY-Z, Meek Mill, Lil Baby, and their strategic investment group. The group will use the combined expertise of Fanatics and influence from some of the best minds in sports, entertainment, and culture to invest in growing Mitchell & Ness brand awareness globally, increasing its cultural relevance, expand the product portfolio and bringing in new league, team, college, and entertainment rights.
JAY-Z remarked on the deal, saying “Fashion is cyclical, but classics are forever. Mitchell & Ness is a true classic.”
JAY-Z, who essentially retired the throwback athletic jersey trend in favor of button-down shirts over the evolution of his career, says he wants to have a “small role in bringing it back, and in some cases, introducing the authenticity and quality of the brand to a new generation.”
Why Master P & Snoop Dogg’s New Joint Venture Is About More Than Chips
Master P and Snoop Dogg have entered a 50/50 partnership with Rap Snacks. Master P, whose real name is Percy Miller, serves as the company’s co-founder, alongside CEO and co-founder James Lindsey. The new venture with the former rappers-turned-moguls is a snapshot of the accelerating pace of black business growth and collaboration in the spirit of what Kanye West recently dubbed, #BlackFutureMonth.