Cherokee Inc. (NASDAQ:CHKE), a leading global licensor and brand management company, announced today that it has signed an exclusive representation agreement with award-winning interior designer Kelly Hoppen.
Over the past few years, British designer Kelly Hoppen has become a world renowned interior designer, known for unique use of style, and her pioneering “simple yet opulent” style. She has achieved an iconic status with her calm, elegant interior designs that have permeated our consciousness. She has won many major awards, including being the first designer to receive the Andrew Martin "International Designer of the Year" award, the European Women of Achievement Award for Entrepreneurship, the Grazia Award in the Design & Architecture category, the Elle Decoration Award, and the Homes & Garden Award. Ms. Hoppen has also published a number of well known interior design books, all of which have garnered significant attention to her design talents. Kelly Hoppen has also been commissioned to work on numerous commercial projects, including:
- The Mumuri, a boutique hotel in Barcelona, Spain
- The Garry Rhodes exclusive W1 restaurant in the UK
- The Royal Mougins Golf Club in the South of France
- The British Airways First Class Cabins
“Building on the retail success on the British high street, I believe that Cherokee Inc., with its unparalleled track record of success will help the Kelly Hoppen brand to capitalize on its potential in new territories,” said Melanie Lanick.
“We are thrilled at the chance to be working with Kelly Hoppen. Her modern designs are adored all over the world. Kelly Hoppen’s much sought-after design artistry, coupled with Cherokee’s vast network of retail licensing partners, creates a perfect recipe for success,” said Shelly Marchetti, Business Development Manager at Cherokee Inc.
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 other European and Asian countries), Zellers (Canada), Pick ‘n Pay (South Africa), Fawaz Al Hokair (Middle East), Grupo Pão de Acucar (Brazil), S.A.C.I. Falabella (Chile and Peru), Arvind Mills (India), Shufersal LTD. (Israel), Comercial Mexicana (Mexico) and Grupo Eroski (Spain). Premier clients for Cherokee’s Sideout brand include Mervyn's (U.S.) and Shanghai Bolderway (China), and for Cherokee’s Carole Little brands include TJX Companies (U.S., Canada and Europe). Cherokee also recently placed the Norma Kamali brand with Wal-Mart.
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 future dividend payments, the timing and impact of the launch of the Norma Kamali brand, revenue and net income growth) 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 and Sideout 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. Our dividend payments during Fiscal Year 2008 have consistently exceeded our cash flow from operations, and we cannot continue to make dividend payments at recent historical levels beyond fiscal year 2009 unless cash flow from operations increases substantially. A further list and description of these risk, uncertainties and other matters can be found in the Company’s Annual Report on Forms 10-K for Fiscal Year 2008, 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.
Contacts:
Russell J. Riopelle, Chief Financial Officer
818-908-9868
or
Integrated
Corporate Relations, Inc.
Andrew Greenebaum, 310-954-1100
