Cherokee Expands Into Europe With Its Sideout Brand; Sport-Scheck to Retail Cherokee's Sideout Brand in Germany, Austria and Switzerland.Business Editors VAN NUYS, Calif.--(BUSINESS WIRE)--Aug. 3, 2000 Cherokee Inc. (Nasdaq:CHKE) today announced that it has entered into an international retail-direct license for its Sideout brand with Sport-Scheck GmBh, based in Munich, Germany. Sport-Scheck, owned by Otto Otto, Austrian archduke Otto: see Hapsburg, Otto von. Versand, is a leading sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport and catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. retailer in Germany, Austria and Switzerland, catering to the outdoor and sports enthusiast A person who enjoys using computers and electronic equipment. Enthusiasts like technology and are willing to learn more of the ins and outs of a product than the average consumer, who just wants to use it. An enthusiast is more like a "prosumer." See consumer and prosumer. and is also a member of Intersport. The agreement is for multiple years and covers Sideout products in a multitude of categories. Further details of the agreement were not disclosed. "We are very pleased to announce our new partnership with Sport-Scheck for our Sideout brand. This agreement helps us establish a foundation and distribution direction in Europe as we have been working towards expanding our successful retail licensing strategies globally," said Stephen Ascher Jr., founder of Sideout and executive vice president of Cherokee. "We anticipate further additions to our European base for Sideout as we are now approaching key retailers with our winning formula." Rainer Angstl, general manager of Sport-Scheck, added: "We are very excited about the Sideout brand for our multi-channel strategy containing our 12 stores, 10 catalogs and for the re-launch of our Web site, Sport-Scheck.com, starting Aug. 1, 2000. "Sideout is a well-known global brand and we look forward to developing its full potential in Germany, Austria and Switzerland with our anticipated launch for Spring 2001." Howard Siegel, president of Cherokee, added, "Sideout's extremely successful results with our retail partners to date now enables us to leverage this strong momentum globally with solid players like Sport-Scheck." Robert Margolis, chairman and chief executive officer of Cherokee, said: "We were pioneers in the U.S. with our retail-direct strategy and our goal is to replicate rep·li·cate v. 1. To duplicate, copy, reproduce, or repeat. 2. To reproduce or make an exact copy or copies of genetic material, a cell, or an organism. n. A repetition of an experiment or a procedure. that success in Europe. This strategy has proven to be extremely successful for Cherokee and also for participating retailers and ultimately, the consumer -- it is a true 'win-win' situation." Cherokee, based in Van Nuys, is a global licensor, marketer and manager of a variety of brands it owns or represents and is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel and 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. , as well as luggage LUGGAGE. Such things as are carried by a traveller, generally for his personal accommodation; baggage. In England this word is generally used in the same sense that baggage is used in the United States. See Baggage. , cosmetics and footwear. Statements included within this news release that are not historical in nature constitute 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. for the purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provided by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that this news release contains certain such forward-looking statements that involve substantial risks and uncertainties. When used, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the company or its management, are intended to identify such forward-looking statements. The company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements. Further management discussion of risks and uncertainties can be found in the company's quarterly filing with the Securities Exchange Commission and other periodic filings. |
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