Cherokee Expands International Presence through Exclusive Partnership with Max, the Largest Value-Based Retail Chain in the Middle East and Africa
Cherokee license agreements now span over 40 countries worldwide
SHERMAN OAKS, Calif.--(BUSINESS WIRE)-- Cherokee Inc. (CHKE), a global brand management company, is pleased to announce today its exclusive partnership with Max, the largest value-based, fashion retail chain in the Middle East and Africa. Following this agreement, Cherokee now maintains license agreements with retailers which span over 40 countries worldwide and expands its presence in the Middle Eastern retail market.
The Iconic Cherokee Family Lifestyle Brand (Photo: Business Wire)
Beginning summer 2013, customers will have the opportunity to purchase Cherokee-branded products initially at select Max stores throughout the Middle East and Africa. The Cherokee brand will join Maxs select roster of affordable, high-quality products and will be positioned as a family lifestyle brand for womens, mens, kids, and juniors at Max stores.
Henry Stupp, Chief Executive Officer of the Cherokee Group stated, The exclusive partnership with Max is a testament to our continued progress in improving our brand penetration and strengthening our global brand footprint. We are confident that our family-focused lifestyle brand will resonate well with Maxs fashion-forward, value-oriented patrons, and we look forward to working with Max to develop and expand our consumer base throughout the Middle East and Africa. Mark Nawrocki, our Senior Vice President, along with our entire team at The Cherokee Group, have excelled at identifying exceptional retail partners that have successfully introduced our brand into new markets.
Ramanathan Hariharan, Chief Executive Officer of Max added, The Cherokee brand with its unique design and American casual appeal will be an excellent addition to our stores, complementing our current offering and reinforcing our brand promise: More Fashion, More Value. The brand will showcase its products for men, women and children initially at select Max outlets in the Middle East and Africa.
Max was launched in 2004 by the Landmark Group, one of the largest retail organizations in the Middle East and India. Max offers customers a distinctive offering of fashion clothing, footwear, accessories and household products in a comfortable and inviting shopping environment. Today, the chain includes 200 retail store locations across UAE, KSA, Jordan, Kuwait, Bahrain, Oman, Turkey, Egypt, Libya, Qatar, Nigeria, Lebanon, Sudan, Yemen and India and has plans to expand its footprint further throughout the Middle East and beyond.
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).
Launched in the UAE in May 2004, Max is the largest value fashion brand chain in the Middle East with 200 stores across the Middle East and India. Catering to the mid-market segment it retails its Max branded merchandise for men, women and children along with footwear and home accessories. An established Superbrand, Max strives to fulfill its brand promise of More Fashion More Value to its customers by offering merchandise designed in-house and manufactured to stringent quality standards at amazing prices. Max is part of the Landmark Group, one of the largest retail conglomerates in the Middle East and India.
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 and the anticipated credit facility) 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 2012, 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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Jamie Curtis, Vice President Marketing
Addo Communications, Inc.
Patricia Dolmatsky/Kimberly Esterkin, (310) 829-5400
Source: Cherokee Inc.Copyright Business Wire 2012