Mossimo Giannulli
Fashion designer who founded the Mossimo clothing brand in 1986
- Entries
- 9
- On the record
- 4
- Stories
- 1
- Latest entry
- Nov 19, 2020
The record
Mossimo Giannulli's business record is in his company's SEC filings. Mossimo, Inc. says he founded the business in 1987 as a sole proprietorship, incorporated it in California in 1988, and took it public on the New York Stock Exchange on February 23, 1996, under the symbol MGX. He was chairman, president, chief executive and principal designer, with majority control of the company.
In March 2000 Mossimo signed a multi-year license giving Target exclusive U.S. rights to most Mossimo products, with a minimum guaranteed royalty of about $27.8 million over the first three years from February 2001. On March 31, 2006, the company agreed to merge with Iconix Brand Group in a deal the filing valued at $7.50 a share. Giannulli, who owned about 65% of the stock, agreed to vote for it, and a creative director agreement with him was a closing condition.
The college admissions case began on March 12, 2019, when federal charges unsealed in Boston accused him and his wife, Lori Loughlin, of agreeing to pay $500,000 in bribes to help their two daughters get into USC. In May 2020 he agreed to plead guilty, with prosecutors recommending five months in prison, and on November 19, 2020, NBC News reported he had arrived at the federal penitentiary in Lompoc, California.
Roles and honours on the record
Every entry, newest first
- Ruled
Judge Nathaniel Gorton sentenced Giannulli to five months, a $250,000 fine, two years supervised release and 250 hours of community service, CNN reported. Varsity Blues: Huffman $15K, 14 days; Loughlin $500K, 2 months
- Admitted
Giannulli pleaded guilty to conspiracy to commit wire and mail fraud and honest services wire and mail fraud, CNN reported. Varsity Blues: Huffman $15K, 14 days; Loughlin $500K, 2 months
Stories in this file
The record, entry by entry
- 1987 Official Giannulli founded the Mossimo business as a sole proprietorship; it was organized as a California corporation in 1988 and became Mossimo, Inc., a Delaware corporation, in November 1995. Mossimo, Inc., annual report on Form 10-K (filed 2001)
- 1996-02-23 Official Mossimo's common stock began trading on the New York Stock Exchange under the symbol MGX on completion of its initial public offering. Mossimo, Inc., annual report on Form 10-K (filed 2001)
- 2000-03-28 Official Mossimo signed a multi-year license giving Target the exclusive U.S. license for substantially all Mossimo products, with a minimum guaranteed royalty of about $27.8 million over an initial term from February 1, 2001 to January 31, 2004. Mossimo, Inc., annual report on Form 10-K (filed 2001)
- 2006-03-31 Official Mossimo agreed to merge with Iconix Brand Group for Iconix stock and $4.25 cash per share, valued at $7.50 a share. Giannulli, owner of about 65% of the stock, signed a voting agreement, and Target's license was extended to January 31, 2010. Mossimo, Inc., Form 8-K
- 2019-03-12 Filed Charges unsealed in Boston in the college admissions case named Giannulli and Lori Loughlin as having agreed to pay $500,000 in bribes to improve their two daughters' chances of admission to USC. NBC News report
- 2020-05-21 Admitted Giannulli agreed in a court filing to plead guilty, including to honest services wire and mail fraud, with the government recommending five months in prison; the court was not bound by the recommendation. NBC News report
- 2020-11-19 Reported He arrived at the medium-security federal penitentiary in Lompoc, California, to serve his five-month sentence, NBC News reported. NBC News report