House & Home
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//house-home.news-articles.net/content/2011/01/1 .. cilitates-agreement-for-the-laila-ali-brand.html
Published in House and Home on Tuesday, January 11th 2011 at 4:11 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
VAN NUYS, Calif.--([ BUSINESS WIRE ])--Cherokee Inc. (NASDAQ:CHKE), a leading global brand management company, today announced that its client, Bee Line Inc. has entered into an exclusive license agreement for the Laila Ali Brand with Vita Food Products, Inc. Detailed terms of the multi-year agreement were not disclosed, but it includes a wide range of marinades, salad dressings, fresh salsas and seasonings. Founded in 1898, Vita Food Products, Inc. manufactures and distributes a wide array of food products with distribution through most major supermarket chains and wholesale clubs.
"We are excited to collaborate with Laila Ali and her team to further develop and enhance their consumer product strategy with an eye towards healthy-living. We look forward to having product in the market within the next six to twelve months."
Cliff Bolen, President & CEO, Vita Food Products, Inc. said, aWe are excited to collaborate with Laila Ali and her team to further develop and enhance their consumer product strategy with an eye towards healthy-living. We look forward to having product in the market within the next six to twelve months.a
Laila Ali said, aWorking hand-in-hand with my team at Premier Sports and Entertainment, The Cherokee Group continues to work tirelessly to ensure the execution of our consumer products strategy. This is another step in building a cohesive consumer product offering and I am excited to have consummated this multi-year partnership with Vita Foods and look forward to much success together. Additionally, Ia™m thrilled to be able to develop a line of product in the food category that will provide consumers with an affordable and healthier selection to what they currently find on shelves and use every day.a
Karen Williams, Regional Director, New Business Development for Cherokee Inc., said, aVita Foods shares our core values for the Laila Ali Brand and we believe this partnership will enhance our consumer products strategy. We continue to be prudent with new category launches and are currently in discussions for the development and distribution of additional merchandise categories including nutrition and health & wellness to further compliment our strategies.a
Eric Kaufman, President, Premier Sports & Entertainment, said, aWe are ecstatic to be working with a team of proven experts in their respective fields in growing Lailaa™s brand through her licensed consumer products division. Laila Ali is emblematic of todaya™s well-rounded, on-the-go woman; as such, she provides a firm foundation for the expansion of her licensing program into many more categories in the near future.a
About Cherokee Inc.
Cherokee Inc., is a global marketer and manager of a portfolio of 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 an Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind Mills (India and certain Middle Eastern countries), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain) 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 aanticipates,a abelieves,a aexpects,a amay,a 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 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, theeffect of global economic conditions, the financial condition of the apparel and retail industry, adverse changes in licensee or consumer acceptance of products bearing the Companya™s brands 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 and the Companya™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 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).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.
