Cherokee Inc. (NASDAQ: CHKE), a global brand management company, is pleased to announce the appointment of Frank Tworecke to its Board of Directors. Mr. Tworecke replaces Dave Mullen, a member of Cherokee’s Board of Directors since 2000, who retired from Cherokee’s Board of Directors effective as of July 17, 2012. “We would like to thank Dave Mullen for his nearly 12 years of valuable service on the Cherokee Group Board of Directors. Dave counseled us through the transition of senior management and helped position the Company for the future,” said Cherokee Group Chairman Jess Ravich. Commenting on Mr. Tworecke’s background, Ravich stated, “Frank holds nearly four decades of senior level retail and apparel management experience with world-class companies. His strong apparel and marketing background, combined with his proven ability to drive strategic initiatives for leading retail organizations will be an invaluable asset to the Board.” “The Cherokee Group has an enormous opportunity to expand its direct-to-retail business model as it continues to broaden its global reach,” said Frank Tworecke. “I am excited to be joining Cherokee’s Board of Directors at such an important time for the Company, and I look forward to working alongside management and my fellow board members to continue to maximize shareholder value.” Mr. Tworecke served as Group President of Sportswear for the Warnaco Group, a leading global apparel company, from 2004 until June 2012. Prior to Warnaco, Mr. Tworecke served as President and Chief Operating Officer at Bon-Ton Stores from 1999-2004; President and Chief Operating Officer at Jos. A Bank from 1996-1999; and President of the Merry-Go-Round Division of Merry-Go-Round Enterprises from 1994-1995. Mr. Tworecke’s tenure in the apparel industry also entails various executive and merchandising roles with Lazarus Federated Department Stores, Oxford Blue Sweater and Lord & Taylor, among others. Mr. Tworecke currently serves on the Board of Directors of Grafton-Fraser, a leading Canadian retailer of men’s apparel, as well as the Cornell University’s Business School Board of Advisors. Mr. Tworecke earned his undergraduate degree from Cornell University and his MBA from Syracuse University.
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). 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) 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 2012, 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.