Cherokee Signs Exclusive Agreement to Represent HOT KISS.Business Editors VAN NUYS, Calif. & LOS ANGELES--(BUSINESS WIRE)--Jan. 16, 2002 HOT KISS AND CHEROKEE INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (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) announced today the signing of an exclusive agreement for Cherokee to engineer strategic licensing agreements for HOT KISS throughout Europe, Asia and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . HOT KISS is a Los Angeles-based manufacturer of junior sportswear, denim and dresses. The company recently assigned licensees to produce handbags and eyewear under the HOT KISS label. Principal and owner, Moshe Tsabag, formerly of Yes Clothing Co., launched this trend-setting collection in 1996. With retail price points ranging from $20-$50, HOT KISS is sold to better department and specialty stores Noun 1. specialty store - a store that sells only one kind of merchandise shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod" nationwide such as Wet Seal/Contempo Casuals, Dillard's, Burdines, Nordstrom, Gadzook's and Macy's. "With the amount of inquiries we are receiving from companies outside of the U.S., we felt it would be most effective to enlist the services of The Cherokee Group to represent us for license agreements internationally," said Moshe Tsabag, 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 Hot Kiss Inc. "Their track record of success speaks for itself. We are very proud of the business we have built and believe that by utilizing The Cherokee Group's vast resources and international network, there are tremendous opportunities for HOT KISS." "Our network of international retailers, wholesalers and manufacturers are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. emerging brands that demonstrate great design leadership. HOT KISS is one such emerging brand in the juniors market," said Howard Siegel, President of Cherokee, Inc. "We believe that there are significant opportunities for companies outside of the U.S. to utilize the fashion and design direction coming from HOT KISS to build the brand internationally. Product opportunities for HOT KISS include apparel, accessories and footwear, to name a few." Cherokee Inc., based in Van Nuys, California, is a marketer, licensor 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, 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 camping equipment, recreational products, luggage, 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. When used, the words "believe", "expects" and similar expressions are intended to identify such forward-looking statements. In particular, the forward-looking statements in this news release include statements regarding the Company's goals for future growth in revenues and earnings, the prospects of existing and new licensees such as Carrefour, and the Company's pursuit of additional brands to acquire or represent. Forward-looking statements involve known and unknown risks 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 effect of national and regional economic conditions, the financial condition of the apparel industry and the retail industry, the overall level of consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. , the effect of intense competition in the industry in which the Company operates, adverse changes in licensee or consumer acceptance of products bearing the Company's brands as a result of fashion trends or otherwise, the ability and/or commitment of the Company's licensees to design, manufacture and market Cherokee and Sideout branded products, the Company's dependence on a single licensee for most of the Company's revenues, the Company's dependence on its key management personnel and the effect of a breach or termination by the Company of the management agreement with the Company's CEO. A further list and description of these risks, uncertainties and other matters can be found in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for Fiscal 2001, 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. |
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