Cherokee Enters Into Licensing Agreement With Uptons for Sideout Brand.VAN NUYS, Calif.--(BUSINESS WIRE)--June 24, 1998--Cherokee Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHKE) Wednesday announced that it has entered into a licensing agreement with Georgia-based Uptons for Cherokee's Sideout brand. The agreement is for three years and includes a wide range of categories for all ages and genders. Details of the terms of the agreement were not disclosed. "Uptons is very pleased to include Sideout into our comprehensive assortment of national brand names," said David Dworkin David Dworkin (b.1934) is an American conductor, clarinetist, and educator. Much of his career focused on work with young people:
Stephen Ascher, founder of Sideout and executive vice president of Cherokee said: "I am excited that Uptons has become a regional partner in the development of the Sideout franchise. The Sideout brand has been successful at Uptons in the past and we anticipate that this partnership will enhance the strength of the brand in the Southeast, Upton's primary market." "We are pleased to add Uptons to our family of partners in developing the Sideout brand," said Robert Margolis, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cherokee. "Their strength in the Southeast continues to fortify for·ti·fy v. for·ti·fied, for·ti·fy·ing, for·ti·fies v.tr. To make strong, as: a. To strengthen and secure (a position) with fortifications. b. To reinforce by adding material. our strategy for the brand. Our plan is to develop the franchise by expanding categories to solicit and develop new accounts that will add revenue and synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. to our program." Uptons is a leading convenient-based destination shopping headquarters of casual merchandise for the entire family. The company's headquarters are located in the Atlanta suburb of Norcross, Ga. Uptons currently operates 70 stores in seven states throughout the Southeast and Mid-Atlantic regions. Cherokee, based in Van Nuys, a marketer and licenser of Cherokee and Sideout brand products, is continuing its negotiations for licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in several categories, including family apparel, fashion accessories Fashion accessories are items apart from the garment itself, which complement the whole outfit. Fashion accessories include jewelry, gloves, handbags, hats, or scarves. , home textiles including linens Linens are fabric household goods, such as pillowcases and towels. Originally, many, such as bed sheets and tablecloths, were made of linen. Today, the term "linen" has come to be applied to all related products even though most are made of cotton, various synthetic , as well as luggage, cosmetics and footwear. For more information on Cherokee by facsimile at no cost, call 800/PRO-INFO and enter dial code CHKE. This release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding the development of the Sideout brand, present and future licensing agreements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Sideout brand. Such statements are subject to risks and uncertainties, including but not limited to, a downturn in the apparel industry or national or international economies; the failure of the company's licensees to successfully design, manufacture and sell products bearing the company's brands and to respond to ever changing consumer demands; and the effectiveness of the company's efforts to develop and market the Sideout brand; and to attract additional licensees. Actual results could vary materially from these statements or current trends. Investors should refer to Cherokee's filings with the Securities and Exchange Commission, including forms 10-K and 10-Q, for a fuller description of risk factors.
CONTACT: Cherokee Inc., Van Nuys
Carol Gratzke, 818/908-9868
or
Financial Relations Board, Los Angeles
Haris Tajyar, 310/442-0599
|
|
|||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion