Fashion label Mossimo and its founder Mossimo Giannulli have agreed an extension to the commencement of Giannulli's offer to take the business private after a third party made a bid for the label.

The name of the third party and the offer price has not been disclosed offically. However, the New York Post reported, citing people familiar with the matter, that the bidder is Iconix Brand Group - which owns labels such as Joe Boxer and Candie's - and that the offer was for $7 a share.

It is unlikely that the new bid will be accepted by him of the company's board, according to Giannulli, due to uncertainties over the offer's terms and the ability to secure the necessary third-party consensus.

The deadline for commencement of the offer is now 14 November 2005, replacing the previous deadline of 31 October 2005, and the deadline for completion of the offer is now 31 January 2006 rather than the previous deadline of 14 February 2006.

1987-established Mossimo is a designer, licensor and distributor of men's, women's, boy's and girl's apparel, footwear, and other fashion accessories.