| Net Worth | $70 million |
|---|---|
| Salary | N/A |
| Birthdate | June 4, 1963 |
| Birthplace | Los Angeles, California |
| Gender | Male |
| Height | N/A |
| Profession | Fashion designer |
| Nationality | American |
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What is Mossimo Giannulli’s Net Worth?
Mossimo Giannulli, an American fashion designer, possesses a net worth of $70 million. Alongside his wife Lori Loughlin, he has a combined net worth of $100 million. Mossimo is famous as the founder of his self-named fashion house, Mossimo.
Highlights
- Mossimo Giannulli has a net worth of $70 million.
- Together with his wife Lori Loughlin, their combined net worth is $100 million.
- Mossimo founded the fashion house, Mossimo, which gained significant success.
- He pleaded guilty and served a prison term as part of the college bribery scandal known as Operation Varsity Blues.
Early Life
Mossimo Giannulli was born on June 4, 1963, in Los Angeles, California, to an Italian family. Originally spelled “Massimo,” he changed the spelling and pronunciation to “Mossimo” in first grade, following a teacher’s suggestion for easier pronunciation. He grew up in Encino, California.
After completing high school, Mossimo attended the University of Southern California for three years before dropping out in 1987. He decided to focus full-time on his clothing line, which he had founded a year earlier on Balboa Island in Newport Beach, California. He borrowed $100,000 from his father to start the surf/lifestyle clothing brand named Mossimo. Within the first year, the brand generated $1 million in revenue, and it earned $4 million the following year.
Over the years, Mossimo’s business expanded its product range to include sweatshirts, knits, sweaters, women’s clothing, and men’s tailored suits. Mossimo, Inc. turned into a multi-million dollar sportswear and accessories company with around 1,700 stores in the US and 600 international stores.
Career
In 1996, Mossimo’s company reached its peak, earning $76 million per year with $12 million in profits. It went public the same year, and Mossimo, at the age of 32, became the youngest CEO of a company listed on the New York Stock Exchange. His net worth reached approximately $275 million after the initial public offering, thanks to his 73% ownership stake.
However, the company faced challenges as it overexpanded into upscale clothing, which led to a drop in shares and a decline in business. In 2000, Mossimo struck a deal with Target, earning $8.5 million per year in royalties for three years. Eventually, in 2006, the company was sold to Iconix Brand Group for $135 million in cash and debt absorption.
Personal Life
Mossimo Giannulli married actress Lori Loughlin, known for her role in “Full House,” in 1997. The couple met in 1995 when Lori was still married to entertainment executive Michael R. Burns. They have two daughters together, Isabella Rose and Olivia Jade.
Net Worth Over Time
Mossimo Giannulli experienced significant fluctuations in his net worth throughout his career. At its peak, his paper net worth reached $500 million in the late 1990s, thanks to the success of his company and its IPO. However, due to the overexpansion and challenges faced by the brand, his stake dropped to $50 million by 1998. Currently, his net worth stands at $70 million.
Components of Net Worth
Mossimo Giannulli’s net worth primarily consists of his earnings from his fashion company, Mossimo, and the subsequent sale of the brand to Iconix Brand Group. Additionally, his net worth includes the royalties earned through the partnership with Target. Investments and other ventures may also contribute to his overall net worth, although specific details are not available.
In conclusion, Mossimo Giannulli, with a net worth of $70 million, has faced both highs and lows throughout his career as a fashion designer. Despite challenges and legal issues, his name remains synonymous with the fashion brand he founded and the success he achieved during its peak.
