Mossimo, Inc. has announced that Mossimo Giannulli has withdrawn his proposal to acquire the company outright through the purchase of all shares of the company not owned by him. Giannulli said that while he remained interested in acquiring the company's publicly held shares, he did not intend to make a new bid at the current stock trading levels.

Founded in 1987, Mossimo designs and distributor of men's, women's, boy's and girl's apparel, footwear, handbags, belts, and other accessories.