Mitchell & Ness welcomes new high-profile investors
Lifestyle and street fashion brand Mitchell & Ness has welcomed several new and high-profile investors from the sports and entertainment world.
Acquired in February by Fanatics, and a strategic investment group including Jay-Z, Maverick Carter, Meek Mill, the D’Amelio family and Lil Baby, the ownership group has since expanded.
At that time, Fanatics owned 75% of Mitchell & Ness, with the rest in the hands of the celebrity group. The deal valued Mitchell & Ness at $250 million.
It now includes LeBron James, Kevin Durant, Chris Paul, CJ McCollum, Devin Booker, James Harden, Joel Embiid, Odell Beckham Jr., Kevin Hart, Rich Paul, Rich Kleiman, Scooter Braun, and Steve Stoute.
The new group is expected to “use their influence to drive future collaborations, unique capsule collection, and overall create more opportunities for fans to express their passion for their favorite teams and past, present and future players,” said Fanatics.
Prior to acquiring Mitchell & Ness, Fanatics also purchased Topps' trading cards and collectibles business for about $500 million, acquiring exclusive rights with Major League Baseball (MLB).
Known for its jersey replicas and streetwear, Mitchell & Ness has formed deals with several sports properties including The National Basketball Association, The National Football League, and MLB.
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