Mossimo, Inc. announced that Target Corporation has exercised its option to renew its current agreement with Mossimo, Inc. for an additional term of two years.
In March of 2000, the Company entered into a multi-product licensing and design services agreement with Target Corporation. Under terms of the agreement, Mossimo, Inc. provides design services and licenses the Mossimo trademark to Target Corp. in the U.S., in return for license royalties and design service fees. The original contract, which commenced in March 2000, was set to expire January 31, 2004. The agreement is now scheduled to run until January 31, 2006.
