ORANGE COUNTY, CA-Mossimo Inc., once one of Wall Street’s favorite stocks as well as the county’s leading apparel-design firm, has quietly moved out of its longtime OC headquarters and into much smaller digs in Santa Monica.

The clothing designer let go most of its 100 staffers earlier this year in a cost-cutting move, about the same time it was delisted from the New York Stock Exchange. Its dozen or so remaining workers have relocated to smaller offices at Broadway and 20th Street in Santa Monica, not far from founder Mossimo Giannulli’s Malibu home.

Mossimo is hoping to make a comeback of sorts through a three-year licensing agreement it recently signed with retail giant Target Corp. that calls for Target to begin selling clothes that carry the Mossimo label. A February launch is planned.

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