- Portion of proceeds from the sale of Cherokee branded products will be donated to Save the Children
SHERMAN OAKS, Calif., Sept. 14, 2017 (GLOBE NEWSWIRE) -- Cherokee, Inc. (NASDAQ:CHKE), a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands, announced today that it has partnered with Save the Children. Through the partnership, a percentage of sales from all Cherokee branded products sold in the United States will directly support the children, families and communities that Save the Children serves
Cherokee’s high brand awareness and commitment to this organization will further Save the Children’s mission to help every last child in several ways. The company will use its diverse product lines and retail partnerships, in combination with events, in-store promotions and media campaigns, to drive customer engagement, raise awareness, drive action and raise funds. The Company’s upcoming “Gift & Give Back” campaign will launch in Fiscal 2018, with the goal of creating a compelling shopping experience and reason to “Care & Share.”
“We are honored to partner with Save the Children for such a meaningful cause,” said Henry Stupp, Chief Executive Officer of Cherokee Global Brands. “Our unique partnership approach puts the cause front and center for the Cherokee brand. The launch has received tremendous support from our partners, including celebrity ambassador, Jennifer Garner, member of Save the Children Board of Trustees. By investing in children and the future, we benefit women, families and communities which aligns perfectly with Cherokee’s corporate mission - making this an ideal partnership to build even greater loyalty and consumer engagement for our brands.”
About Cherokee Inc.
Cherokee is a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands including Cherokee®, Carole Little®, Tony Hawk® Signature Apparel and Hawk Brands®, Liz Lange®, Everyday California®, Sideout®, Hi-Tec®, Magnum®, 50 Peaks®, Interceptor® and Flip Flop Shops®, a leading franchise retail chain, across multiple consumer product categories and retail tiers around the world. The Company currently maintains license and franchise agreements with leading retailers and manufacturers that span over 110 countries in 12,000 retail locations and digital commerce.
About Save the Children
Save the Children gives children in the United States and around the world a healthy start, the opportunity to learn and protection from harm. We invest in childhood — every day, in times of crisis and for our future. Follow us on Twitter and Facebook.
Safe Harbor Statement
This news release may contain forward-looking statements regarding future events and the future performance of Cherokee. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances and is based on currently available market, operating, financial and competitive information and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expected or projected, including, among others, risks that: the Company and its partners will not achieve the results anticipated in the statements made in this release; that the Company’s Quarterly Report on Form 10-Q will not be filed as anticipated and that further delays in such filing could cause the Company’s lenders to exercise their rights under the credit agreements or the Company’s stock to be delisted from Nasdaq; the anticipated benefits of the Hi-Tec acquisition will not be achieved; global economic conditions and the financial condition of the apparel and retail industry and/or adverse changes in licensee or consumer acceptance of products bearing the Company’s brands may lead to reduced royalties; the ability and/or commitment of the Company’s licensees to design, manufacture and market Cherokee®, Hi-Tec®, Magnum®, 50 Peaks®, Interceptor®, Carole Little®, Tony Hawk® and Hawk Brands®, Liz Lange®, Everyday California® and Sideout® branded products could cause our results to differ from our anticipations; the Company’s dependence on a select group of licensees for most of the Company’s revenues makes us susceptible to changes in those organizations; and the Company’s dependence on its key management personnel could leave us exposed to disruption on any termination of service. The risks included here are not exhaustive. Other risks and uncertainties are described in our annual report on Form 10-K filed on May 18, 2017, its periodic reports on Forms 10-Q and 8-K, and subsequent filings with the SEC we make from time to time, including the preliminary prospectus supplement that we filed in connection with the offering described herein. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Cherokee Global Brands
Jason Boling, CFO
Addo Investor Relations
Laura Bainbridge/Patricia Nir