Mossimo is a mid-range American clothing company, founded in 1986 by designer Mossimo Giannulli and owned by Iconix Brand Group since 2006. Mossimo specializes in youth and teenage clothing such as shirts, jeans, jackets, socks, underwear, and accessories. Mossimo was founded in 1986 by Mossimo Giannulli on Balboa Island in Newport Beach, California. Mossimo dropped out of the University of Southern California in 1987 to create his self-named streetwear line, with a $100,000 loan from his father. 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 in an initial public offering. After shares tumbled from $50.00 to $4.75 when Giannulli tried and failed to transition the brand from streetwear/beachwear to high fashion, he took the brand downscale. On March 28, 2000, Mossimo, Inc announced a major, multi-product licensing agreement with Target stores, for $27.8 million. In 2017, Target underwent a makeover, introducing new smaller lines and eliminating bigger billion-dollar lines, including Mossimo. Target distanced itself from Mossimo amid Mossimo Giannulli's alleged involvement in the 2019 college admissions bribery scandal, saying that Target had not been involved with Giannulli in over a decade. Mossimo and his wife, actress Lori Loughlin, have been accused of bribing University of Southern California officials with up to $500,000, to secure enrolment of their two daughters. In 2006, Mossimo was acquired by Iconix Brand Group.