adidas looks to take a step back in time, announcing recently the acquisition of Mitchel & Ness Nostalgia Company. Terms of the deal were not disclosed, but the company will become a part of adidas’ Sports Licensed Division, which currently houses both the adidas and Reebok licensed apparel businesses. Mitchell & Ness currently holds licensing agreements with the NBA, MLB, NHL and NFL to reproduce historically accurate uniforms and other vintage-inspired apparel.

Though Mitchell & Ness has never reported actual sales results, the New York Times cited M&N CEO Peter Capolino as saying the company saw sales grow from $2.8 million in 2000 to $25 million in 2002 and anticipating $50 million in sales for 2003. Market analysts polled by Sports Executive Weekly expect that sales have fallen since that time as the urban fashion trend that fueled growth has moved away from sports licensed product, especially the high-end jackets that are the signature for M&N.

Additionally, Mitchell & Ness signed a three-year deal with Nike’s Jordan brand in February of this year, but the company’s did not comment on whether that agreement will transfer with the change in ownership. The collection of authentic on-court uniforms commemorating defining moments of Jordan’s NBA career marked the first time ever that a non-NIKE brand appeared in NIKEtown stores.