Sports platform online Fanatics and a strategic investment group that included Jay-Z, Maverick Carter, Meek Mill, the D’Amelio family, and Lil Baby purchased the renowned lifestyle and street fashion company Mitchell & Ness in February. Fanatics has since announced an increase in the ownership group. 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 are among the more prominent figures joining the unit.
This new, extended group will help Mitchell & Ness become the most diversified and culturally relevant consumer brand. They are all tastemakers and trendsetters on their own. The influential owners will utilize their position to promote upcoming partnerships, one-of-a-kind capsule collections, and additional opportunities for fans to show their love for their preferred teams and players of the past, present, and future.
During the February acquisition, Fanatics CEO Michael Rubins said: “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.”
Fanatics has strengthened Mitchell & Ness’ already strong brand since joining the Fanatics Commerce division earlier this year by exploiting its extensive customer database and strong connections with sports franchises to draw in new, diversified fans to the licensed sports market. Through Fanatics’ already-existing connection with the League, the company recently secured new, extensive rights to design and produce merchandise for all 32 NHL teams, as well as for active and retired players. To get Mitchell & Ness items into more prestigious sports properties and player organisations, more agreements and rights purchases are being worked on.
Some of the fastest-growing segments of the Fanatics Commerce business include men’s and women’s street fashion, nostalgic authentics, and other culturally relevant product categories – all areas of competence for Mitchell & Ness.
The post Mitchell & Ness and Fanatics Add LeBron James, Kevin Durant, Kevin Hart, and More to Ownership Group appeared first on The Source.
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