So icy, so no Nike boy, just Gucci, Louis, Prada, 'scuse me

from Lil Wayne (Ft. Gucci Mane) – We Be Steady Mobbin' Lyrics on Rap Genius

Meaning

“I wear a lot of diamonds ("ice”), I don’t wear sportswear (Nike) but only designer brands"

Why you hatin on Nikes, Gucc'?

Also a reference to So Icey Entertainment, Gucci’s now defunct label

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