Mossimo Giannulli

Mossimo Giannulli (born Massimo Giannulli; June 4, 1963)[1] is an American fashion designer who founded Mossimo, a mid-range American clothing company, in 1986. Giannulli and his wife, actress Lori Loughlin, were charged and arrested in March 2019 in connection with the college admissions bribery scandal, and both agreed to plead guilty to the relevant charges in May 2020.

Mossimo Giannulli
Born
Massimo Giannulli

(1963-06-04) June 4, 1963
Los Angeles, California, U.S.
OccupationFashion designer
Known forMossimo clothing line
Spouse(s)Lori Loughlin
Children3; including Olivia Jade

Early life

Giannulli was born Massimo Giannulli on June 4, 1963 in Los Angeles to parents of Italian descent, Gene, an architect, and Nancy Giannulli, a homemaker. He was raised in Encino, California.[2] In the first grade, he changed his first name to Mossimo at the suggestion of a teacher who insisted it was easier to pronounce.[2]

After graduating from high school, he studied business and architecture at the University of Southern California for three years before dropping out in 1987.[2]

Mossimo
Main article: Mossimo

Giannulli created Mossimo, a mid-range American clothing company in 1986 on Balboa Island in Newport Beach, California. Mossimo specializes in youth and teenage clothing such as shirts, jeans, jackets, socks, underwear, and accessories.

During his first year in business he grossed $1 million.[3] The following year he made $4 million.[4] In 1991, Mossimo expanded the line to include sweatshirts, knits, and sweaters. By 1995, the collection included women's clothing and men's tailored suits. After eight years in business, Mossimo, Inc. had grown into a multimillion-dollar lifestyle sportswear and accessories company.

In 1996, Mossimo went public with an initial public offering.[4]

After shares tumbled from $50 to $4 when the founder tried and failed to make the transition from streetwear/beachwear to high fashion,[4] he took the brand downscale, announcing on March 28, 2000, Mossimo, Inc. a major, multi-product licensing agreement with Target stores, for $27.8 million.[5][4]

In 2006, Mossimo was acquired by Iconix Brand Group.[4]

College Bribery Scandal
Main article: 2019 college admissions bribery scandal

On March 12, 2019, Giannulli and his wife Lori Loughlin were arrested in connection with their alleged involvement in a nationwide college entrance exam cheating scandal, regarding their two daughters' (including Olivia Jade) admission to USC. They were charged with conspiracy to commit mail fraud and honest services fraud. They were released on $1 million bail each.[6][7] They were among 50 people charged.[8][9] In April 2019 the couple were additionally charged with money-laundering offences.[10][11]

The indictment against the couple alleged that they had paid $500,000, disguised as a donation to the Key Worldwide Foundation, in order that the University of Southern California's (USC's) admissions committee would be led to believe that their two daughters would be joining the school's women's rowing team if admitted, when in fact neither young woman had ever trained in the sport and had no plans to do so.[12]

Initially denying the charges Giannulli, along with his wife, was later reported to have pled guilty as part of a plea bargain.[13]

gollark: No, I mean we have a mixed economy now.
gollark: What?
gollark: Given the existence of the public sector.
gollark: We have that now, no?
gollark: Just have a government which exists but is limited in scope.

References
  1. "Massimo Giannulli". California Birth Index. Retrieved February 6, 2020.
  2. "Back in the Swim". People.com. Retrieved 21 April 2019.
  3. "Mossimo Giannulli - Fashion Designer | Designers | The FMD". Fashion Model Directory. Retrieved 20 June 2017.
  4. "How Mossimo Went from Being Head-to-Head with Stussy to Target's In-House Brand". The Hundreds. Retrieved 5 May 2016.
  5. Earnest, Leslie (29 March 2000). With Losses Mounting, Mossimo Turns to Target, Los Angeles Times.
  6. "Lori Loughlin has surrendered to federal authorities in Los Angeles". CNN. 13 March 2019. Retrieved 21 April 2019.
  7. Thorne, Will (13 March 2019). "Lori Loughlin's Bail Set for $1 Million; Judge Sets Travel Conditions". Variety. Retrieved 21 April 2019.
  8. Winter, Tom; Williams, Pete; Ainsley, Julia; Shichapiro, Rich (12 March 2019). "TV actresses among 40 people charged in college exam cheating plot". NBC News. Retrieved 12 March 2019.
  9. Medina, Jennifer; Benner, Katie (12 March 2019). "Dozens Charged in College Admissions Bribery Scandal". New York Times. Retrieved 12 March 2019.
  10. "Lori Loughlin indicted on money-laundering charge in college admissions scandal". 9 April 2019. Retrieved 9 April 2019.
  11. "Lori Loughlin, husband Mossimo Giannulli plead not guilty in college admissions scam". USA Today. Retrieved 21 April 2019.
  12. "Lori Loughlin indicted by federal grand jury, charged with money laundering". USA Today. Retrieved 21 April 2019.
  13. Cevallos, Danny (21 May 2020). "Why Lori Loughlin and Mossimo Giannulli held out on a guilty plea — until now". NBC News. NBC. Retrieved 13 August 2020.
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