Business & Finance
Fri, May 7, 2010Thu, May 6, 2010Mon, January 11, 2010Sun, January 10, 2010Sat, January 9, 2010Fri, January 8, 2010Thu, January 7, 2010Wed, January 6, 2010Tue, January 5, 2010Mon, January 4, 2010Fri, January 1, 2010Thu, December 31, 2009Cherokee Inc. Enters into License Agreement with JEM Sportswear for its Sideout Brand
Published in Business and Finance on Thursday, January 7th 2010 at 4:25 GMT by Market Wire
VAN NUYS, Calif.--([ BUSINESS WIRE ])--Cherokee Inc. (NASDAQ:CHKE), a leading licensor and global brand management company, today announced that it has entered into an exclusive agreement in the U.S. with JEM Sportswear for Junior's knit tops for its Sideout brand. JEM Sportswear, with over 38 years of experience, is a powerful force in the industry and is known for its commitment to product design, quality and speed to market.
"We are pleased to further partner with JEM with Junior's knit tops. This is another important step in building our wholesale network and brand offerings. We will continue to pursue other category opportunities and look forward to additional announcements over the next 90 days."
Jeff Marine, Chairman & CEO, JEM Sportswear said, "Due to the significant traction and order placement that we have experienced in such a short period of time with Sideout in Men's and Boy's it is only natural to replicate our focus and success in Junior's. We anticipate Sideout Men's and Boy's product will ship in the 1st quarter this year and we look forward to follow with Junior's."
Jay Kester, Executive Vice President of Marketing for Cherokee Inc., said, "We are pleased to further partner with JEM with Junior's knit tops. This is another important step in building our wholesale network and brand offerings. We will continue to pursue other category opportunities and look forward to additional announcements over the next 90 days."
About Cherokee Inc.
Cherokee Inc., based in Van Nuys, is a marketer, licensor and manager of a variety of brands it owns (Cherokee, Sideout, Carole Little and others) and represents. Currently, Cherokee has licensing agreements in a number of categories, including family apparel, fashion accessories and footwear, as well as home furnishings and recreational products. Premier clients for the Cherokee brand around the world include Target Stores (U.S.), Tesco (U.K., Ireland and certain Central European countries), Zellers (Canada), Pick ‘n Pay (South Africa), Grupo Pão de Acucar (Brazil), S.A.C.I. Falabella (Chile and Peru), Arvind Mills (India), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain) and RT Mart (Peoples Republic of China). Premier clients for Cherokee's other brands include the TJX Companies (U.S., Canada and Europe) for the Carole Little brands, and Shanghai Bolderway (China) for the Sideout Brand. Cherokee also placed the Norma Kamali brand with Wal-Mart.
About JEM Sportswear and Awake Inc.
Founded 38 years ago, JEM Sportswear is a leading manufacturer of knit tops to many top quality name brands. JEM has 5 distinct business divisions: Men's and Boy's, Women's, Junior's, Girl's and Private Label. Through strategic licensing and a commitment to product design and quality, JEM is a powerful force in the industry. In late 2000, JEM expanded into the Women's business through its affiliate Awake, Inc. Awake, Inc. was launched to provide fashion, quality tees for women. Awake has enjoyed success in the Women's market with their super-soft, vintage tees and has expanded into Girl's market with their brand Awake Couture Girls. Together, JEM and Awake have created a new category in the market by combining fashion tees with nostalgic brands which are sought after by celebrities and consumers throughout the U.S.
Statements included within this news release that are not historical in nature constitute forward-looking statements for the 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 dividend payments, revenues from new licensees and 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 national, international and regional economic conditions, the financial condition of the apparel industry and the retail industry, the overall level of consumer spending domestically and internationally, the effect of intense competition in the industry in which the Company operates, adverse changes in licensee or consumer acceptance of products bearing the Company's brands as a result of fashion trends or otherwise, the ability and/or commitment of the Company's licensees to design, manufacture and market Cherokee, Sideout and Carole Little branded products, the Company's dependence on a select group of licensees for most of the Company's revenues, the Company's dependence on its key management personnel and adverse determinations of claims, liabilities or litigations. A further list and description of these risk, uncertainties and other matters can be found in the Company's Annual Report on Form 10-K for Fiscal Year 2009, and in its periodic reports on Forms 10-Q and 8-K (if any). Undue reliance should not be placed on the forward-looking statements contained herein because some or all of them may turn out to be wrong. The Company disclaims any intent or obligation to update any of the forward-looking statements contained herein to reflect future events and developments.
