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Cherokee Inc. Enters into License Agreement with Wiesner Products / Mystic Apparel for Its Sideout Brand

  //house-home.news-articles.net/content/2010/06/1 .. oducts-mystic-apparel-for-its-sideout-brand.html
  Published in House and Home on Thursday, June 10th 2010 at 11:25 GMT by Market Wire
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VAN NUYS, Calif.--([ BUSINESS WIRE ])--Cherokee Inc. (NASDAQ: CHKE), a leading licensor and global brand management company, today announced that it has entered into an exclusive license agreement with Wiesner Products in the U.S. for Mena™s, Womena™s and Childrena™s hosiery. In addition, Mystic Apparel, a subsidiary of Wiesner Products, has been granted the exclusive rights in the U.S. to Juniors, Young Mena™s and Childrena™s loungewear, sleepwear & underwear, as well as hats, scarves, gloves, mittens, headbands, backpacks, bags, totes and messengers. WPIa™s success is due to a dynamic, professional staff that utilizes a hands-on approach to help retailers build and maximize sales opportunities. Their design team is one of the best in the business and is backed by company owned offshore factories, to ensure quality product delivered on time.

"Sideout provides us with an opportunity to dramatically expand our business in many categories. We look forward to working closely with Cherokee Inc. to maximize Sideouta™s potential."

Charles Mizrahi, President of Wiesner Products, said, aSideout provides us with an opportunity to dramatically expand our business in many categories. We look forward to working closely with Cherokee Inc. to maximize Sideouta™s potential.a

Karen Williams, New Business Director, Cherokee Inc., said, aWiesner Products has the distinction of bringing fashion-right, quality products to the marketplace. We are happy to add them to our group of premier manufacturers and look forward to much success together.a

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 Central European countries), Zellers (Canada), Pick an Pay (South Africa), Grupo Po de Acucar (Brazil), S.A.C.I. Falabella (Chile, Peru and Colombia), Arvind Mills (India and certain Middle Eastern countries), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain) and RT-Mart (Peoples Republic of China). Premier clients for Cherokeea™s other brands include the TJX Companies (U.S., Canada and Europe) for the Carole Little brands, and Shanghai Bolderway (China) for the Sideout Brand. Cherokee also placed the Laila Ali brand with IBB for beauty and personal care.

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 aanticipatesa, abelievesa, aexpectsa, amaya, ashoulda 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 the transition of Mr. Margolisa™ role and 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 outcome of the vote at the upcoming stockholder meeting, theeffect 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 Companya™s brands as a result of fashion trends or otherwise, the ability and/or commitment of the Companya™s licensees to design, manufacture and market Cherokee, Sideout and Carole Little branded products, the Companya™s dependence on a select group of licensees for most of the Companya™s revenues, the Companya™s dependence on its key management personnel and adverse determinations of claims, liabilities or litigations.A further list and description of these risk, uncertainties and other matters can be found in the Companya™s Annual Report on Form 10-K for Fiscal Year 2010, 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.