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INSIDE MOSSIMO'S BILLION DOLLAR BLOCKBUSTER; DESIGNER EMBRACES TARGET, AS RETAILER AGGRESSIVELY REDEFINES `DISCOUNT' CHANNEL.

Daily News Record

| April 03, 2000 | LOHRER, ROBERT | COPYRIGHT 1999 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW YORK -- At the tender age of 36 -- after 14 years in a business that has included a gilded IPO, cost-cutting and turnarounds, and actually giving half his stock to lure a new chief executive just last year -- it would appear that designer Mossimo Giannulli has never met a business strategy he didn't like.

His latest stroke, however, appears to be his grandest -- and many might say his most ingenious as he faced daunting financial realities that threatened the future of his company.

By signing an exclusive license with Target for a guaranteed $1 billion in sales over three years beginning in spring 2001, Mossimo has moved to the head of the class in the growing area of direct-to-retail design and licensing.

"The major retailers are killing people like me," Mossimo said late last week. "I…

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