In a tale that intertwines celebrity, fortune, and scandal, Lori Loughlin and Mossimo Giannulli’s 28-year marriage has officially come to an end. Known for their Hollywood charm and impressive real estate empire, the couple’s story transformed dramatically following their involvement in the notorious college admissions scandal, which drastically altered their public images and careers.
The Rise of Mossimo Giannulli
Mossimo Giannulli’s journey began in 1984 when he left the University of Southern California after just one year. With $100,000 from his parents, which he later acknowledged was obtained through dubious means involving fake report cards, Giannulli launched his clothing brand in 1986 from his apartment in Balboa Island, Orange County.
His vision captured the vibrant, laid-back surf culture of Southern California, giving birth to popular products like three-panel beach volleyball shorts and oversized graphic tees adorned with the signature “M” logo. By 1987, the brand grossed $1 million, and just a year later, sales skyrocketed to $4 million.
Within a few years, Giannulli’s company expanded its offerings to include sweaters and casual wear. By 1992, Mossimo employed over 50 people and generated $32 million in sales, thriving even amid a nationwide recession.
The Billion-Dollar Ambitions
The pinnacle of Giannulli’s career came in 1996 when he took his company public. The IPO generated significant buzz on Wall Street, with shares soaring 39% on the first day, making it the second most active debut on the New York Stock Exchange that year. At the age of 32, Giannulli became the youngest chairman of a publicly traded company.
His 73% stake in the brand was suddenly valued at $275 million, and when stock prices peaked at $50 per share, his net worth reached an astonishing $500 million. However, a shift in focus from beachwear to high-end fashion proved detrimental. Customers resisted the move towards upscale products, leading to a rapid decline in sales and stock prices.
A Lifeline from Target
In 2000, facing declining fortunes, Giannulli secured a licensing deal with Target worth $27.8 million, providing him with $8.5 million in royalties in the first year. This partnership allowed Mossimo to reach a broader audience and temporarily stabilize his brand’s finances.
By 2006, however, the brand transitioned to a mass-market label and was sold to Iconix Brand Group for a cash-and-stock deal valued at $135 million.
Hollywood Life and Real Estate Ventures
Giannulli and Loughlin married in 1997, eventually welcoming two daughters, Isabella and Olivia Jade. They appeared to enjoy a glamorous lifestyle, investing in several opulent properties across California. Their real estate ventures included high-profile purchases in Bel Air and Beverly Hills, with some properties undergoing extensive renovations before being resold at impressive prices.
The Downfall: Operation Varsity Blues
The couple’s high-profile life faced devastating challenges in 2019 amid the Operation Varsity Blues college admissions scandal. Prosecutors alleged that they paid $500,000 to falsely secure their daughters’ admissions to USC as rowing recruits, despite neither having any connection to the sport.
Initially pleading not guilty, both ultimately accepted plea deals. Loughlin served two months in prison, while Giannulli received a five-month sentence. The fallout severely damaged their careers, with Loughlin being cut from projects at Hallmark and Netflix and their daughter losing numerous endorsements.
Separation and Future Prospects
As of October 2025, Loughlin and Giannulli have officially separated after nearly three decades of marriage. Although no legal proceedings have begun, sources indicate they are “taking a break” and living apart. This separation marks yet another significant chapter in Giannulli’s life, one that has journeyed from incredible success to notable scandal.
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