Remember those high-flying days in the mid-'90s when Orange County action-sportswear god Mossimo Giannulli was the IT guy? And how he soon made a splashy leap into high-end fashion? And how he said at the time his brand would never wind up in stores like Target? And how, facing bankruptcy in 2000, he cut a deal to indeed put his brand into Targets, a resuscitation that has paid off handsomely, pushed the Mossimo brand into other retail categories like home furnishings and spurred Mossimo to re-up its relationship with the retailer through 2010? Well, now the Los Angeles Times is reporting that Van Nuys-based Cherokee Inc., whose low-end fashions hang right next to Mossimo's in Target stores, is making a bid to buy out Mossimo Inc. That may seem undignified to the fashion set Giannulli once (and perhaps still does) hang with, but if it means this Unaccessorized Time-Teller can smartly match a $7.78 Day-Glo orange Cherokee shirt with a pair of $12.37 plum-and-wedding-gown-white plaid Mossimo Bermudas pulled from the same Target clearance rack, it's all good.