Cherokee Inc. (NASDAQ: CHKE), a leading innovator and global marketer of fashion and lifestyle brands it owns and represents in multiple consumer product categories and sectors around the world, announced today that effective December 1, 2011, it will relocate its corporate headquarters to a larger 10,000 square foot office facility also in Van Nuys, CA. The move is part of Cherokee’s strategy to better accommodate its growth initiatives, design and merchandising resources, while continuing to enhance the Company’s products internally.
“This move ensures that we are in the best position possible to accelerate our planned growth initiatives while still strategically managing our expenses,” said Henry Stupp, Chief Executive Officer of Cherokee Inc. “This relocation provides much-needed room and will allow us to better transform our Company and strengthen our relationships and internal operations as we head into Fiscal 2013 and beyond.”
Mr. Stupp continued, “This location offers significantly enhanced design and merchandising space and better reflects the vibrancy and vision of the new Cherokee. We can now better focus on providing additional creative solutions and delivering ongoing seasonal designs for our major product categories including fashion, accessory, home textile, room décor and footwear. Overall, we are confident in the future direction of the Company, and look forward to yet another positive step for Cherokee Inc.”
Cherokee Inc.’s new office is located at 5990 Sepulveda Blvd., Suite 600, Van Nuys, CA. The Company was able to secure this new lease at advantageous rates with minimal additional annual costs to Cherokee Inc. over the term of the lease. Additional information is available in the Report on Form 8-K that Cherokee Inc. filed today. Cherokee’s main phone number remains unchanged at (818) 908-9868.About Cherokee Inc. Cherokee Inc. is a global marketer and manager of a portfolio of fashion and 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 ‘N Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind Mills (India and certain Middle Eastern countries), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain), Nishimatsuya (Japan), Magnit (Russia) and the TJX Companies (U.S., Canada and Europe).
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