In late 1995, a local newsstand employee named Paul Frank began making wallets to promote his band. Made out of dead stock scrap vinyl with logos traced from 1950s lettering books, the individually customized wallets became so popular in Paul's hometown of Huntington Beach, Calif. that he soon found himself consumed with their creation. One day Paul offered to make Ryan Heuser, a fan of Paul's music, a wallet. The two knew each other only in passing, but Heuser who at the time was handling public relations at Mossimo, was so touched by Paul's gift of a wallet that a fast friendship developed between the two. The beginnings of Paul Frank Industries was born.

"I believed in Paul," said Heuser, the company's President and Co-Founder. "I knew he was really gifted and I knew I could make him marketable." And so he did. Paul Frank began growing so fast that Heuser left Mossimo and became a partner, along with CFO John Oswald, a then-30 year old former venture capitalist. John brought additional funding and financial structure to the table, and helped incorporate the partnership. In January 1997, Paul Frank Industries (PFI) was in officially in business. Originally based in Orange County, PFI has become an unconventional worldwide success.