Meek Mill Announces Co-Ownership of Lids

On Wednesday, Meek Mill announced his investment in the popular sports retailer Lids, joining Fanatics and investment firm Ames Watson in the chain’s ownership group.

What We Know:

  • Meek’s close relationship with Michael Rubin helped opened the doors to this opportunity. Rubin is the co-owner of the Philadelphia 76ers, executive chairman of the sports retailer Fanatics, and a co-founder of Mill’s Reform Alliance Foundation for criminal justice reform.
  • “I’ve always been a fan of Lids — growing up, I remember buying their hats to match my outfits and look my best,” the rapper said in an interview with Business Insider. “It’s amazing to see my relationship with the brand come full-circle and have the opportunity to evolve as a businessman. We have a great team in place and we’re looking forward to taking Lids to new heights.”
  • In the interview, Meek also gave credit to his Roc Nation label boss, Jay-Z, for inspiring his approach to the new venture. The Philadelphia rapper and criminal justice reform activist claimed 2019 to be his “boss year” and explained how this venture, among others, is just the beginning. “I’m trying to get ownership in a lot of things to where I can still live comfortable the way I was living in my prime years as a rapper.”
  • The company is also looking forward to working with him too. Lawrence Berger, the co-founder and partner of Lids’ parent group, Ames Watson commented on it. “From afar, I’ve respected Meek’s zeal for music and criminal justice reform, and I know that enthusiasm will translate to our work with Lids. His business acumen, passion for fashion and creative outlook will be vital to making us a more versatile brand.”

The rapper will lead the company’s creative strategy and release a new hat line in August, which the company said will be “the first of many exclusive products” that he will release.