MGXO designed, sourced and marketed contemporary men’s activewear and men’s & women’s sportwear. MGXO also designed, sourced and marketed eyewear and watches, and licensed its trademarks for use in other collections. Thecompany is now selling exclusively to Target stores. Mossimo is closing its two company-owned stores in California, reducing its workforce by 90%, and terminating production and virtually all relationships with customers and suppliers as part of its agreement with Target. Ongoing licenses include those for eyewear, women’s swimwear and bodywear, and men’s socks, suits, and dress shirts. The company’s men’s and women’s lines, targeted at the under 30 crowd, will be in Target in 2001. Mossimo Giannulli, founder and “visionary” (a title he gave himself when he was replaced as CEO), owns 69% of the company.
Mossimo Giannulli, founder and majority shareholder (who owns about 65%), failed in his bid to take the company private.
ApparelBeach & Swimwear, Maternity
Santa Monica, CA US