Mossimo Giannulli Net Worth
Mossimo Giannulli net worth: Mossimo Giannulli is an American fashion designer who has a net worth of $80 million. With his wife Lori Loughlin, he has a combined net worth of $100 million. Mossimo Giannulli is the founder of the fashion house that bears his name, Mossimo. Mossimo Giannulli was 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 eventually added a wide 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. At its peak, the brand was sold in 1,700 stores within the US, and with around 600 international stores worldwide.
Mossimo (the brand) 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. 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.
College Bribery Arrest: On March 12, 2019 the FBI raided Mossimo and Lori's Bel Air home in connection to a college bribery scam. Lori and Mossimo allegedly paid $500,000 to get their two daughters admitted to the University of Southern California under the guise that they were recruited to the rowing team.