Mossimo Hires 2 More Executives From Hilfiger

Mossimo Inc. said Wednesday it has hired two more former Tommy Hilfiger Inc. executives to work for the struggling Irvine apparel company, which has just laid off more workers as part of an ongoing restructuring.

The company announced last week that former Hilfiger chief executive Edwin Lewis had been hired as CEO at Mossimo. As part of the arrangement, founder Mossimo Giannulli gave up half of his stake in the company. Giannulli and Lewis will hold equal shares in Mossimo.

On Wednesday, Lewis confirmed that he has hired Hilfiger executives Gia Castrogiovanni, senior vice president of women’s sales, and Carol Hauer, senior vice president of production. They have resigned at Hilfiger, he said.

Lewis declined to say what titles the pair will hold at Mossimo or when they will begin working.

He also confirmed that the company has laid off more employees since he assumed the top post last week, but he declined to say how many people lost jobs.

Mossimo’s troubles started when the company tried to switch too quickly from producing beachwear to making more fashion-oriented apparel.

Following a string of disappointing financial reports, Giannulli earlier this year brought on board turnaround expert John Brincko as chief executive. Under Brincko’s direction, Mossimo in May launched a restructuring that included pay cuts and the elimination of jobs. The company also moved to a smaller headquarters.

Mossimo announced recently that Brincko’s one-year contract would not be extended but said he would continue working as a consultant until the end of the year.

Mossimo’s stock skyrocketed last week on the news of Lewis’ hiring, jumping 92% in one day to $5.75. On Wednesday, the stock closed at $5.81, down 13 cents.