Mossimo
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| Industry | Textile |
|---|---|
| Founded | 1986 Newport Beach, California, U.S. |
| Founder | Mossimo Giannulli |
| Defunct | 2006 |
| Fate | Acquired by Iconix Brand Group |
| Headquarters | Irvine, California , U.S. |
Area served | Worldwide |
| Products | Shirts, jeans, jackets, socks, underwear, accessories |
| Owner | Mossimo Giannulli (1986–2006) Iconix Brand Group (2006–present) |
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Mossimo was a sportswear and accessories company, founded in 1986 by designer Mossimo Giannulli that was acquired by Iconix Brand Group in 2006. Mossimo specialized in youth and teenage clothing such as shirts, jeans, jackets, socks, underwear, and accessories.
History
[edit | edit source]Founding (1986) and expansion
[edit | edit source]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]
Mossimo clothing features prominently in the 1990 volleyball film Side Out.
IPO (1996) and relationship with Target (2000–2017)
[edit | edit source]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, were 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)
[edit | edit source]In 2006, Mossimo was acquired by Iconix Brand Group.[3]
Gallery
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Mossimo store in Cabanatuan, Philippines
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Baby and kids store
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Embroidery
References
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- ^ Earnest, Leslie (29 March 2000). With Losses Mounting, Mossimo Turns to Target, The Los Angeles Times.
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External links
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- Mossimo Giannulli at FMD
- Sportswear brands
- 1986 establishments in California
- 2006 mergers and acquisitions
- American companies established in 1986
- Clothing brands of the United States
- Clothing companies established in 1986
- Companies based in Newport Beach, California
- Iconix Brand Group
- Jeans by brand
- Manufacturing companies based in Greater Los Angeles
- Target Corporation