SHERMAN OAKS, Calif.--(BUSINESS WIRE)--Cherokee Inc. (NASDAQ: CHKE), a global marketer of style-focused lifestyle brands, announced today a newly formed long-term partnership with Copyright Promotions Licensing Group (“CPLG”) to represent Cherokee Global Brands in their European markets, securing regional and territory partners. This partnership is slated to commence immediately.
“Cherokee Global Brands is on a global fast growth track,” commented Henry Stupp, CEO of Cherokee Inc. "We are extremely excited to be working with CPLG, as we look to strategically license our brands through category and channel diversification while continuing to expand our global footprint. CPLG has demonstrated best practices and in-country management, together with full understanding of our proprietary 360-degree turnkey approach; Strategic selling, support services, product development and marketing. CPLG’s no nonsense, common sense approach complements Cherokee Brand Group’s elevated value proposition.”
Peter Byrne, CEO of CPLG, stated, "Partnering with Cherokee Global Brands demonstrates our ongoing commitment to diversifying our portfolio. We have successfully repositioned the company for continued growth, and representing the Cherokee portfolio is, without question, one of the most significant developments of our future strategy. These are some of the most exciting brands to be available for licensing in Europe, and we already have initiated discussions with market leading companies in various fashion and fashion related categories."
Cherokee Global Brands will be exhibiting Cherokee, Tony Hawk, Liz Lange and Ale by Alessandra brands at Licensing International Expo Las Vegas on June 17-19, booth number J91.
About Cherokee Inc.
Cherokee Inc. is a global marketer and manager of a portfolio of Fashion and Lifestyle brands including Cherokee®, Carole Little®, Tony Hawk® and Hawk Brands®, Liz Lange® and Sideout®, in multiple consumer product categories and sectors around the world. The Company has license agreements with premier retailers and manufacturers covering over 40 countries around the world including Target Stores (U.S. and Canada), Kohl’s (U.S.), Tesco (U.K., Ireland and certain Central European countries), RT-Mart (Peoples Republic of China), Pick ‘n Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind Mills (India and certain Middle Eastern countries), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain), Nishimatsuya (Japan), Magnit (Russia), Landmark Group’s Max Stores (certain Middle East and North Africa countries), and the TJX Companies (U.S., Canada and Europe).
About Copyright Promotions Licensing Group (CPLG)
CPLG (www.cplg.com) is one of the world’s leading entertainment, sport and brand licensing agencies with offices in the UK, Benelux, France, Germany, Italy, Spain and the US. Owned by DHX Media (www.dhxmedia.com), a leader in the creation, production and licensing of family entertainment rights, CPLG has more than 40 years of experience in the licensing industry. It provides each of its clients with dedicated licensing and marketing industry professionals and a fully-integrated product development, legal and accounting service. CPLG believes that partnership is about clarity, openness and trust, and is widely known for its no-nonsense, straightforward approach; Expert Common Sense.
Statements included within this news release may contain forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. When used, the words “anticipates,” “believes,” “expects,” “may,” “should,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements included in this press release (including, without limitation, express or implied statements regarding potential future business development) involve known and unknown risk and uncertainties that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the effect of global economic conditions, the financial condition of the apparel and retail industry, adverse changes in licensee or consumer acceptance of products bearing the Company’s brands, the ability and/or commitment of the Company’s licensees to design, manufacture and market Cherokee, Liz Lange, Completely Me, Tony Hawk, Sideout and Carole Little branded products, the Company’s dependence on Target for most of the Company’s revenues and the Company’s dependence on its key management personnel. The risks included here are not exhaustive. A further list and description of these risks, uncertainties and other matters can be found in the Company’s Annual Report on Form 10-K for Fiscal Year 2014, and in its periodic reports on Forms 10-Q and 8-K. Management believes that expenses such as the Hawk acquisition expenses and the remediation expenses make it difficult for investors to evaluate the underlying performance of the business and that non-GAAP net income excluding these expenses and related tax effects provides a useful measure of performance for the quarter and Fiscal Year as it offers consistency and comparability with past financial performance, facilitates period-to-period comparisons, and enables better comparisons with other peer companies.
Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intent or obligation to update any of the forward-looking statements contained herein to reflect future events and developments.
For a complete list of brands and territories, please contact:
Cherokee Global Brands:
Mark Nawrocki – EVP Global New Business Development
818-908-9868 x 315
Steve Manners – EVP
+44 20 8563 6111