Mayela Marcos, Director for the Clothing Department of Organización Soriana added, “We are very pleased to expand our partnership with the Cherokee Group and further develop the Sideout brand throughout our stores. Our customers will now have an even wider variety of options for cutting edge and seasonal clothing designs at great prices. Soriana has been working closely with the Cherokee team to advance the Sideout brand vision, and we are excited about the future growth of the brand within our stores as well as in Mexican retail community.”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). About Organización Soriana. Organización Soriana, S.A.B de C.V. is a commercial sector company with 100% Mexican capital founded in 1968. Its stock went public on the Mexican Stock Exchange since 1987 under the name SORIANA. Statements included within this news release may contain forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. When used, the words “anticipates”, “believes”, “expects”, “may”, “should” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements included in this press release (including, without limitation, express or implied statements regarding potential future business development and the anticipated credit facility) involve known and unknown risk 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 global economic conditions, the financial condition of the apparel and retail industry, adverse changes in licensee or consumer acceptance of products bearing the Company’s brands the ability and/or commitment of the Company’s licensees to design, manufacture and market Cherokee, Sideout and Carole Little branded products, the Company’s dependence on a select group of licensees for most of the Company’s revenues and the Company’s dependence on its key management personnel. The risks included here are not exhaustive. 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 for Fiscal Year 2011, and in its periodic reports on Forms 10-Q and 8-K. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intent or obligation to update any of the forward-looking statements contained herein to reflect future events and developments. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50234643&lang=en
Cherokee Inc. (NASDAQ: CHKE), a global brand management company, is pleased to announce today the official retail launch of its Sideout© Brand with Soriana stores in Mexico.
The Sideout Line for Women (Photo: Business Wire)Organización Soriana is the second largest Mexican company in the retail commercial sector of the country. The Company was founded in 1968 in the city of Torreon, state of Coahuila with 100% Mexican capital. Less than two decades later in 1987, Soriana went public on the Mexican Stock Exchange under the ticker SORIANA. Following a multi-format strategy, Soriana operates 567 stores, a 300-unit convenience store chain called ‘Super City’ and a financial services unit called ‘Soriban.’ Soriana sells over 40,000 different SKU´s across the food, clothing, general merchandise, health products and basic services categories, striving to satisfy the specific needs of each of its vast number of customers. The Sideout Brand, which is described as beach and street-inspired and active and genuine in style, fits seamlessly into Soriana’s current lineup of product offerings. Sideout products available for in-store purchase at Soriana cover a wide range of categories across juniors’, men’s and tween boys’ and girls’ active-wear, outerwear, swimsuits, footwear and accessories. The unveiling of Sideout’s collection at Soriana has been accompanied by a fully-integrated marketing campaign including in-store branded signage as well as digital and direct mail promotions. “We are very excited to build on our relationship with Soriana and promote further growth of the Sideout brand in Mexico,” said Cherokee Inc. CEO, Henry Stupp. “Soriana has made the Sideout brand a priority offering for their customers, and we look forward to many future achievements together as we make Sideout one of the most highly recognized California Lifestyle brands throughout Latin America.”