Mossimo Giannulli Net Worth 2022,Career,Personal Life, And More Info!

Mossimo Giannulli Net Worth: Mossimo Giannulli is a well-known American fashion designer who is best known for his clothing company, Mossimo, which he started in 1986. Mossimo’s headquarters are in California, which is in the United States. There are now more than 1700 Mossimo stores all over the world.

Maybe you know a lot about Mossimo Giannulli. But do you know how old he is and what Mossimo Giannulli net worth will be in 2022? If you don’t already know, this article has information about Mossimo Giannulli net worth, career, professional life, personal life, and more. So, if you’re ready, let’s start.

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Mossimo Giannulli Early Life

On June 4, 1963, Mossimo Giannulli was born in Los Angeles to Italian parents. His real name at birth was “Massimo.” In first grade, a teacher told him that “Mossimo” would be easier to say, so he changed the spelling and pronunciation to “Mossimo.” He grew up in the city of Encino, California.

Mossimo went to the University of Southern California for three years after high school, but he dropped out in 1987. He quit school to focus on his clothing line, “Mossimo,” which he had started a year earlier on Balboa Island in Newport Beach, California. He started the surf/lifestyle clothing line by borrowing $100,000 from his dad. In its first year of business, Mossimo the brand brought in $1 million. The next year, it made $4 million.

Over the years, his business grew to include sweatshirts, knits, sweaters, women’s clothes, and tailored suits for men, among other things. After almost a decade in business, Mossimo, Inc. had grown into a multi-million dollar sportswear and accessories company. At its height, the brand was sold in about 1,700 stores in the United States and about 600 stores in other countries.

Mossimo Giannulli Career

 

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Mossimo’s first store was in the basement of his parent’s home. In its first year, it made more than $1 million. In 1995, Mossimo Giannulli added knits, sweaters, and sweaters to his line. This was followed by the addition of tailored suits for both men and women.

Mossimo’s headquarters are in Irvine, California, and Mossimo is known to stop by the store from time to time. Iconix Brand Group bought the Mossimo clothing line in 2006 because of its growing popularity and falling profits. However, Mossimo Giannulli was still chosen to be the brand’s designer.

In 1986, Mossimo Giannulli started Mossimo in the US state of California. The brand focuses on making clothes for kids and teens. Iconix Brand Group owns and runs Mossimo right now. Mossimo is known for selling jeans, jackets, bootleg shirts, socks, accessories, and underwear, among other things.

He has more than 1700 clothing stores all over the United States. He also has licenses for more than 600 stores in other countries, such as Australia, South America, Japan, Mexico, India, the Philippines, etc.

Success

By 1996, the company was making $76 million per year and making $12 million in profits. The company went public in the same year. After the first day of trading after the IPO, Mossimo Giannulli had a paper net worth of $275 million before taxes. He owned 73 percent of the company.

Mossimo Giannulli’s company stock hit an all-time high of $50 per share when it was at its best as a public company. This meant that Mossimo Giannulli had a net worth of $500 million on paper.

Mossimo’s stake in his company fell to $50 million when shares dropped 90% to $4.75 in 1998. This happened because he made too many high-end clothes, turning off his original fans and not bringing in new high-end customers.

The expansion turned out to be expensive and maybe even hasty. The company lost tens of millions of dollars in the years that followed. The stock price went down to $4.75 after the company’s growth started to slow down and its costs went up. Mossimo Giannulli eventually sold the company to Iconix Brand Group, and now the clothes are only available at Target.

Award Achievements

Even though Mossimo Giannulli started some of the most popular brands in America, he hasn’t won an award for making fashionable clothes that are also affordable. He has a social media account with thousands of followers, which shows how popular he and his band are.

Mossimo Giannulli Net Worth

Mossimo Giannulli Net Worth
Mossimo Giannulli Net Worth

The American fashion designer Mossimo Giannulli Net Worth is $70 million. Together with his wife, Lori Loughlin, he is worth a total of $100 million. Mossimo Giannulli started the Mossimo fashion house, which bears his name.

Mossimo and Lori were arrested in March 2019 as part of the Operation Varsity Blues college bribery scandal. Mossimo and Lori both pleaded guilty in the end and went to prison.

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Real Estate

Mossimo Giannulli Net Worth
Mossimo Giannulli Net Worth

Giannulli also made money from buying and selling homes. In 2002, he spent $8 million on a home in Bel Air. After that, he fixed up the house. Alexandra Dwek bought the house for $16.6 million in 2011. Mossimo bought a house in Beverly Hills for $7.5 million in 2010. He also fixed up that house and sold it for more than $18.2 million after doing so.

Giannulli and his wife bought a 12,000-square-foot mansion with six bedrooms and nine bathrooms in Bel Air for $13.995 million in June 2015. Also, this house was fixed up. The couple put the house up for sale in January 2020 for more than $28 million. In July 2020, Mossimo and Lori sold the house to the co-founder of Tinder, Justin Mateen, for $18.75 million. So, Mossimo Giannulli Net Worth has an estimated $75 million.

Mossimo Giannulli Personal Life

In 1997, “Full House” actress Lori Loughlin married Mossimo Giannulli. They met in 1995 when she was still married to Michael R. Burns, an entertainment executive. In 1996, she was officially divorced from Burns. They have two daughters together: Isabella Rose and Olivia Jade, who is famous on social media.

Controversy

The FBI raided Mossimo and Lori’s home in Bel Air on March 12, 2019, because of a college bribery scam. They are said to have paid $500,000 to get their two daughters into the University of Southern California under the pretense that they were recruited to the rowing team.

Lori and Mossimo pleaded guilty to one count of conspiracy to commit wire and mail fraud instead of going to trial, which was sure to be painful, expensive, and could have led to sentences of 10 or more years in prison. As part of their plea deal, Lori had to spend two months in prison, pay a $150,000 fine, and do 100 hours of community service. Mossimo agreed to go to jail for five months, pay a fine of $250,000, and do 250 hours of community service. They will both be on probation for two years.

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