Mossimo Giannulli Net Worth
Mossimo Giannulli net worth: Mossimo Giannulli is a fashion designer who has a net worth of $50 million. Mossimo Giannulli is the founder of the fashion house that bears his name, Mossimo. Mossimo founded his eponymous company in 1986 on Balboa Island in Newport Beach, California. Mossimo is known for their line of tshirts, jeans, jackets and other accessories targeted at teenagers. Mossimo was a hit right away, earning $1 million in its first year. By 1996, the company was earning $76 million per year and generating $12 million in profits. Around the same time, the brand also expanded to include more upscale clothing for older men and women. Unfortunately, the good times did not last forever. The expansion proved to be costly and perhaps rash. In 1997, Mossimo lost nearly $19 million. At the peak of the company's success when the stock price topped $50, Mossimo Gianulli's equity stake was worth $500 million. After the company's growth began to decline and expenses soared, the stock price eventually hit a low of $4.75. Mossimo Giannulli eventually sold the company to Iconix Brand Group and today the clothes are sold exclusively at Target. Gianulli is married to Full House actress Lori Loughlin. They have two daughters and live together in a $19 million house in Bel Air, California.
Giannulli was born on June 4, 1963, in southern California. Raised in the country's region that is marked by a casual, beach lifestyle, twenty-year-old Mossimo decided to make money on that particular clothing. It was in 1987, when he borrowed money from his father and started a small apparel company out of a garage on Balboa Island in Newport Beach, California. Over the years, his business has grown adding a new range of products like sweatshirts, knits and sweaters, as well as women's clothes and men's tailored suits. After almost a decade in business, Mossimo, Inc. had turned into a multi-million dollar sportswear and accessories company. The brand is currently sold in 1,700 stores within the US, and with around 600 international stores worldwide. Its major expansion happened back in 2000, when they concluded a major, multi-product licensing agreement with Target stores. The growth went on as the American brand company, Iconix Brand Group, acquired Mossimo in 2006 along with Mudd, London Fog, Ocean Pacific.