Cherokee Inc. Moves into New Corporate Headquarters
VAN NUYS, Calif.--(BUSINESS WIRE)-- Cherokee Inc. (CHKE), a leading innovator and global marketer of fashion and lifestyle brands it owns and represents in multiple consumer product categories and sectors around the world, announced today that the Company has officially relocated to its new corporate headquarters in Van Nuys, CA. This move is part of Cherokees strategy to better accommodate its growth initiatives, design and merchandising resources all while continuing to enhance the Companys products.
Cherokee Inc.s Chief Executive Officer Henry Stupp commented on the move, We are very excited to complete the year in our new office space. Our new headquarters provides much-needed room and will allow us to better transform our Company, strengthen our relationships and internal operations, and ultimately enhance our overall product lineup as we head into Fiscal 2013 and beyond.
Cherokee Inc.'s new office is located at 5990 Sepulveda Blvd, Suite 600, Van Nuys, CA 91411. Cherokee's main phone number remains unchanged at (818) 908-9868. The Company was able to secure this new lease, which officially started on December 1st, at advantageous rates with minimal additional annual costs to Cherokee Inc. Cherokee's previous lease was terminated early with an agreement signed on December 7, 2011, concluding all related obligations by the end of January 2012.
About Cherokee Inc.
Cherokee Inc. is a global marketer and manager of a portfolio of fashion and lifestyle brands it owns and represents in multiple consumer product categories and sectors around the world. The Company has license agreements with premier retailers and manufacturers covering over 30 countries around the world including Target Stores (U.S.), Tesco (U.K., Ireland and certain Central European countries), Zellers (Canada), 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) 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 Companys brands the ability and/or commitment of the Companys licensees to design, manufacture and market Cherokee, Sideout and Carole Little branded products, the Companys dependence on a select group of licensees for most of the Companys revenues and the Companys 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 Companys Annual Report on Form 10-K for Fiscal Year 2011, 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.
Mark DiSiena, CFO
ADDO Communications, Inc.
Andrew Greenebaum/Kimberly Esterkin
Source: Cherokee Inc.Copyright Business Wire 2011