Mossimo

Mossimo is a sportswear and accessories American company, founded in 1986 by designer Mossimo Giannulli and owned by Iconix Brand Group since 2006. Mossimo specializes in youth and teenage clothing such as shirts, jeans, jackets, socks, underwear, and accessories.

Mossimo
TypeSubsidiary
IndustryTextile
Founded1986 (1986)
Newport Beach, California, U.S.
FounderMossimo Giannulli
Headquarters
Irvine, California,
,
U.S.
Area served
Worldwide
ProductsShirts, jeans, jackets, socks, underwear, accessories
ParentIconix Brand Group
Websitemossimo.com

History

Founding (1986) and expansion

Mossimo was founded in 1986 by Mossimo Giannulli on Balboa Island in Newport Beach, California. Giannulli dropped out of the University of Southern California in 1987, to create his Mossimo streetwear line, with a $100,000 loan from his father.[1] At the close of his company's first fiscal year, Giannulli had $1 million in profits.[2] The following year he had $4 million.[3]

IPO (1996) and relationship with Target (2000–2017)

In 1996, Mossimo went public in an initial public offering.[3] After shares tumbled from $50.00 to $4.75 when Giannulli tried and failed to transition the brand from streetwear/beachwear to high fashion,[4] he took the brand downscale. On March 28, 2000, Mossimo, Inc announced a major, multi-product licensing agreement with Target stores, for $27.8 million.[5][3] In 2017, Target underwent a makeover, introducing new smaller lines and eliminating bigger billion-dollar lines, including Mossimo.[6]

Target distanced itself from Mossimo amid Mossimo Giannulli's involvement in the 2019 college admissions bribery scandal, saying that Target had not been involved with Giannulli in over a decade.[7] Mossimo and his wife, actress Lori Loughlin, have been convicted of bribing University of Southern California officials with up to $500,000, to secure enrollment of their two daughters.[8]

Acquisition by Iconix (2006)

In 2006, Mossimo was acquired by Iconix Brand Group.[3]

References
  1. Babcock, Gregory (2015-07-20). "How '90s Cool Brand Mossimo Went From Stussy Rival to Target Stores". Complex. Retrieved 2020-05-11.
  2. "Mossimo Giannulli - Fashion Designer | Designers | The FMD". Fashion Model Directory. Retrieved 20 June 2017.
  3. "How Mossimo Went from Being Head-to-Head with Stussy to Target's In-House Brand". The Hundreds. Retrieved 5 May 2016.
  4. "How Mossimo Went from Being Head-to-Head with Stussy to Target's In-House Brand". The Hundreds. Retrieved 9 April 2019.
  5. Earnest, Leslie (29 March 2000). With Losses Mounting, Mossimo Turns to Target, The Los Angeles Times.
  6. Kumar, Kavita. "Target is shedding Merona and Mossimo and adding new brands instead". The Los Angeles Times. Retrieved 23 April 2019.
  7. Barrabi, Thomas (14 March 2019). "Target distances itself from Mossimo label amid college admissions scandal". FOX Business. Retrieved 23 April 2019.
  8. Franklin, Ericka. "Meet Lori Loughlin's Husband, Fashion Designer Mossimo Giannulli". The Hollywood Reporter. Retrieved 2020-05-11.
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