SHERMAN OAKS, Calif., Sept. 29, 2015 (GLOBE NEWSWIRE) -- Cherokee Global Brands (NASDAQ:CHKE), a global marketer of style-focused lifestyle brands, announced today that it has entered into a new license agreement with Saborn Licensing Company BV for its Cherokee® brand.
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This agreement grants Saborn the rights to sell a wide assortment of men's, women's and children's clothing and accessories in department stores, specialty stores and hypermarkets in countries throughout Western and Central Europe including Germany, Czech Republic, Hungary, Poland, Slovakia and select Scandinavian countries. Product is expected to launch in fall of 2016.
With over 25 years of apparel and licensing experience with major European retailers, Saborn has gained a reputation for providing on-trend, quality products that resonate with European consumers.
"Saborn will fully leverage our 360-degree platform, enabling them to benefit from the vision, agility and scale that we bring to our flagship partners around the world," said Henry Stupp, CEO of Cherokee Global Brands.
Wil Kerkhof, CEO, Saborn commented, "We are extremely pleased to announce our partnership with Cherokee Global Brands. The Cherokee brand enjoys strong consumer awareness and has a long and profitable history throughout Europe. We look forward to capitalizing on that awareness and equity to satisfy the considerable demand for Cherokee products in Western and Central Europe."
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®, across multiple consumer product categories and retail tiers around the world. The Company currently maintains licensing agreements with leading retailers and manufacturers that span over 50 countries in 7,000 retail locations. Its retail and e-commerce platform partnerships include: 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), Reliance Trends Stores (India) 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 firstname.lastname@example.org Investor and financial information Jason Boling, CFO (818) 908-9868x318 email@example.com Investors: Patricia Nir Addo Communications (310) 829-5400 Media Requests for Cherokee Global Brands: Orsi Public Relations Janet Orsi (323) 874-4073 Janet@orsipr.com
Source: Cherokee Global Brands