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. In the first grade, he changed his first name to Mossimo at the suggestion of a teacher who insisted it was easier to pronounce. After graduating from high school, he studied business and architecture at the University of Southern California for three years before dropping out in 1987.
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. The following year he made $4 million. 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. After shares tumbled from $50 to $4 when the founder tried and failed to make the transition from streetwear/beachwear to high fashion, 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. In 2006, Mossimo was acquired by Iconix Brand Group.
College 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' admission to USC. They were charged with conspiracy to commit mail fraud and honest services fraud. They were released on $1 million bail each. They were among 50 people charged. Those charges have a maximum term of 20 years in prison, supervised release of three years, and a $250,000 fine. On April 9, they were also charged with conspiracy to commit money laundering, which has a maximum sentence of 20 years in prison, supervised release of three years, and a $500,000 fine. 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 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. On March 13, 2019, Giannulli surrendered to federal authorities in Los Angeles. In subsequent appearances at United States District Court in Los Angeles, Loughlin and Giannulli were each released on a bail bond of $1 million. Giannulli and Loughlin were then charged with the crime of money laundering and have pled not guilty to all charges. He changed his mind and has cut a deal with prosecutors. He is now pleading guilty and so is his wife.
