What is Mossimo Giannulli’s net worth? Who is Mossimo Giannulli’s wife?
Introduction
Mossimo Giannulli is an American fashion designer who is best known for founding the clothing company Mossimo.
Biography
Giannulli was born on June 4, 1963, in Los Angeles, California, USA.
He is of Italian descent.
His father was a landscape architect in Los Angeles.
Mossimo studied architecture and business at the University of Southern California for three years.
In 1986, he created Mossimo, a mid-range clothing company on Balboa Island in Newport Beach, California. His company is specialized in youth clothing.
Lori Loughlin and Mossimo Giannulli attend Carousel Of Hope Ball at the Beverly Hills Hotel in Beverly Hills, California on October 28, 2000 – @Getty
It is currently sold in about 1,700 stores within the United States as well as in Japan, India, Philippines, South America, Australia, and the United Kingdom.
Wife
In 1997, Mossimo Giannulli married actress Lori Loughlin in Newport Beach, California.
Children
Mossimo has three children: a son named Gianni Giannulli from a previous relationship, as well as two daughters, Olivia Jade and Isabella Rose, with Lori Loughlin.
Mossimo Giannulli – Net Worth
Mossimo Giannulli during Mossimo’s New Collection Celebration at Moomba in West Hollywood – 2001 – @Getty
So, how much is Mossimo Giannulli worth?
Giannulli earned most of his wealth from founding and managing his company – Massimo.
The company was founded in 1986 with $100,000 that he borrowed from his father. He started his business in a garage in Balboa Island at Newport Beach.
During its first year, the brand grossed about $1 million.
In 1992, the company had $32 million in sales and 52 employees.
In 1993, Mossimo established its headquarters in Irvine, California, where it produced Mossimo hats, shoes, bags, belts, wallets, eyewear, sportswear, and activewear.
In 1995, the company had annual revenue of $72 million.
In 1996, Mossimo had 300 employees.
Lori Loughlin and Mossimo Giannulli attend 6th Annual Kidstock Music And Arts Festival Sponsored By Hudson Jeans at Greystone Mansion on June 3, 2012 in Beverly Hills – @Getty
Also in 1996, it went public on the New York Stock Exchange. According to the LA Times, the stock rose 39 percent above its initial offering price. In addition, it ended the day as the 2nd-most-active issue on the NY Stock Exchange. Also, the company’s value rose to $275 million.
Giannulli said:
”It was so amazing to see all these savvy institutional people responding to our story so strongly.”
Mossimo went on to say:
”Next to the birth of my child, it was the most incredible experience of my life.”
In 1998, the shares in his company dropped by about 90 percent. Shares that were once worth $50 dropped to $4.75. Critics cited the company’s rapid expansion as the cause.
In March 1998, the brand reported a fourth-quarter loss of $13.5 million.
On March 28, 2000, the company announced a multi-product licensing agreement with Target Stores, for $27.8 million.
For the fiscal year of 2002, Mossimo had a revenue increase of 19.3 percent to $19.9 million. Giannulli said:
”Fiscal 2002 represented another strong year highlighted by a number of significant accomplishments.”
In 2009, Giannulli sold his company to Iconix Brand Group for $135 million in cash and debt absorption. Iconix Brand Group also owns Badgley Mischka women’s wear, Candie’s shoes, and Joe Boxer underwear.
As part of the deal, he joined Iconix Brand Group as creative director for his namesake brand.
Real Estate
Lori Laughlin and husband/designer Mossimo Giannulli arrive April 26, 2002 at the Hard Rock Hotel in Las Vegas – @Getty
Giannulli also made money from real estate.
In 2002, he bought a Bel Air home for $8 million. He then renovated the house. In 2011, the house was sold for $16.6 million to Alexandra Dwek.
In 2010, Mossimo purchased a $7.5 million house in Beverly Hills. He renovated that house too and sold it for over $18.2 million.
In June 2015, Giannulli and his wife bought a 12,000 square-foot mansion in Bel Air, with six bedrooms and nine baths, for $13.995 million. This house was also renovated.
In January 2020, the couple listed the house for over $28 million. Mossimo and Lori sold the house for $18.75 million in July 2020 to Tinder co-founder Justin Mateen.
Therefore, American fashion designer Mossimo Giannulli has an estimated net worth of $85 million.
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Controversy
Mossimo Giannulli and actress Lori Loughlin attend LACMA’s 50th Anniversary Gala sponsored by Christie’s at LACMA on April 18, 2015 in Los Angeles – @Getty
Lori Loughlin and Giannuli were arrested for their involvement in the College Admissions Scandal of 2019, during which the FBI made 50 arrests.
Allegedly, Giannuli and Lori had paid $500,000, disguised as a donation to the Key Worldwide Foundation, in order that the University of Southern California’s admissions committee would be led to believe that their daughters would be joining USC’s women’s rowing team if admitted.
According to court papers, Loughlin and Mossimo sent photos of their daughters on rowing machines. One of the problems is that their daughters had never trained in the sport and had no plans to do so.
Andrew Lelling, the US Attorney for Massachusetts, said:
”This case is about the widening corruption of elite college admissions through the steady application of wealth, combined with fraud.”
According to CNN, both are facing charges of conspiracy to commit money laundering, conspiracy to commit bribery, and conspiracy to commit mail and wire fraud.
Both have pleaded not guilty. Both Giannulli and Lori Loughlin’s bonds were set at $1 million.
If convicted, the two could each face up to 20 years in prison.
On August 21, 2020, Mossimo was sentenced to 5 months in prison and a $250k fine.
In November 2020, he began serving his five-month prison sentence. Mossimo was released in April 2021. For two years, he was on supervised release.
Mossimo Giannulli plays his tee shot on the first hole on Day Three of the Alfred Dunhill Links Championship at Kingsbarns Golf Links on October 01, 2022 in St Andrews – @Getty
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I am Bulgarea Candin Stefan, and I founded FamousPeopleToday.com in 2018. I’m using my bachelor’s degree in economics and 9 years of experience in blogging to guide millions of people through the incredibly complex world of celebrity net worths.