SHERMAN OAKS, Calif., July 16, 2015 (GLOBE NEWSWIRE) -- Cherokee Global Brands (NASDAQ:CHKE), a global marketer of style-focused lifestyle brands, announced today that it has entered into a license agreement with NTD Apparel Inc. for its Everyday California® brand.
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This agreement provides NTD Apparel Inc. the rights to manufacture and sell Everyday California in certain apparel and accessory categories for adults and kids. The distribution will include specialty and department store retailers as well as resorts throughout the U.S. and Canada. Product is expected to launch spring 2016.
NTD Apparel Inc. is an industry leading apparel firm headquartered in Montreal, Canada that successfully markets to major retailers throughout North America. Drawing its strength from a multi-divisional corporate infrastructure, NTD Apparel distributes a wide variety of clothing and accessories for men, women, and children.
"In conjunction with the acquisition of Everyday California, we actively identified potential licensees that maintain core values which align well with our own value pillars of agility, vision and scale," said Henry Stupp, CEO of Cherokee Global Brands. "NTD's excellent reputation combined with their many years of experience will provide Everyday California with an enhanced level of market recognition, helping to strengthen the brand's presence throughout the U.S. and Canada."
Michael Eliesen, CEO and President of NTD Apparel Inc., commented, "We are very pleased to announce our partnership with Cherokee Global Brands and believe there is a demand for a brand that reflects the California lifestyle. Having a long history of working with licensors in both the U.S. and Canada, Cherokee Global Brands' approach is without rival. We are confident that our retail partners will be highly receptive to Everyday California's product offerings and look forward to a successful partnership with Cherokee."
About Cherokee Global Brands
Cherokee Global Brands is a global marketer and manager of a portfolio of Fashion and Lifestyle brands including Cherokee®, Carole Little®, Tony Hawk® Signature Apparel and Hawk Brands®, Liz Lange®, Everyday California® and Sideout®, in multiple consumer product categories and sectors around the world. The Company has license agreements with premier retailers and manufacturers covering over 50 countries and 7,000 retail doors plus online business around the world including: Target Stores (U.S.), Kohl's (U.S.), Sears Canada (Canada), Argos & Sports Direct (UK and Ireland), RT-Mart (Peoples Republic of China), Pick 'n Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind Mills (India), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Nishimatsuya (Japan), Landmark Group's Max Stores (certain Middle East and North Africa countries), and the TJX Companies (U.S., Canada and Europe).
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 and Hawk Brands, Sideout, Everyday California 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 2015, and in its periodic reports on Forms 10-Q and 8-K. 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.
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CONTACT: Cherokee Global Brands: For licensing information Mark Nawrocki, Executive Vice President Global Business Development 818-908-9868 x315 email@example.com Investor and financial information Jason Boling, CFO (818) 908-9868x318 firstname.lastname@example.org Media Requests for Cherokee Global Brands: Orsi Public Relations Janet Orsi (323) 874-4073 Janet@orsipr.com Investors: Patricia Nir/Kimberly Esterkin Addo Communications (310) 829-5400 International Licensing Agents: CPLG (United Kingdom/EU/Nordic Countries) Rob Spindley +44 20 8563 6160 email@example.com Haven (Australia/ New Zealand) Tom Punch +61 2 9357 9888 firstname.lastname@example.org Gaia (Japan) Grace Morita +81 3 5459 3595 email@example.comSource: Cherokee Global Brands