Cherokee Inc. (NASDAQ: CHKE), a global marketer of style-focused lifestyle brands, announced today that it has entered into a retail license agreement for its Liz Lange Maternity Brand with Mahindra Retail Pvt Ltd.’s flagship retail stores, Mom & Me. Liz Lange Maternity will be available at all Mom & Me outlets throughout India as well as online. Founded in 1945, the Mahindra Group is a $16.2 billion multinational conglomerate headquartered in Mumbai, India, employing more than 155,000 people across numerous companies with operations in various sectors, including retail, automotive, aerospace, energy, and financial services. Mom & Me is Mahindra’s flagship retail venture where expecting and new mothers alike can find everything from apparel and baby care products to parenting seminars and support. Commenting on this partnership, Cherokee Chief Executive Officer, Henry Stupp, noted, “We are very excited to partner with the Mahindra Group and to have the opportunity to bring the Liz Lange brand to a broader customer base. Just as Liz Lange prides itself on being one of the most recognized and respected maternity brands, Mom & Me stores strive to be the preferred destination of every expectant mother looking for world-class products and services. As we do with all of our partners, we will support this relationship with our unique 360 degree service model. This is an important step towards our globalization of the Liz Lange brand as we continue to pursue additional partnerships around the world. We look forward to a successful partnership with Mahindra and the many possibilities ahead.” Mr. K.Venkataraman, CEO of Mahindra Retail, endorsed Mr. Stupp’s enthusiasm and said, “Mom & Me has practically been the pioneer in the maternity-wear category in India, and has been the retail brand of choice for over a million mothers in its short history since inception in 2009. As an organization, we value professionalism and excellence in all aspects of our work, products, and services. Our goal is to partner with world-class companies that bring innovation and excellence to our relationship and exclusive and valued products to our customers. We believe that The Cherokee Group is a premier licensing and marketing company that exhibits such traits and the Liz Lange Maternity brand is a perfect fit for our Mom & Me stores; bringing great style and value to our customers. We anticipate a long, fruitful relationship with the Liz Lange brand as well as The Cherokee Group.”
About Cherokee Inc.Cherokee Inc. is a global marketer and manager of a portfolio of Fashion and Lifestyle brands including Cherokee ®, Carole Little ®, Liz Lange ® and Sideout ®, in multiple consumer product categories and sectors around the world. The Company has license agreements with premier retailers and manufacturers covering over 40 countries around the world including Target Stores (U.S. and Canada), Tesco (U.K., Ireland and certain Central European countries), RT-Mart (People's Republic of China), Pick ‘n Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind Mills (India and certain Middle Eastern countries), Mahindra (India), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain), Nishimatsuya (Japan), MAP (Indonesia), Magnit (Russia), Landmark Group’s Max Stores (certain Middle East and North Africa countries), and the TJX Companies (U.S., Canada and Europe). About Mahindra Retail Mahindra Retail is an extension of the US $16.2 billion Mahindra Group's trading foray in the domestic India market. It is a part of Mahindra Partners, the $750 Million Private Equity division of the Mahindra Group, with a vision to accelerate value creation through a diversified portfolio of emergent businesses of the future. Mahindra Retail has a unique venture, “Mom & Me” retail stores which specialize in maternity and infant care and have everything for Moms and kids under one roof. In a short span of time, Mahindra Retail has successfully created a strong brand with pan India presence, operating 113+ Mom & Me stores across 48+ through a diversified portfolio of emergent businesses of the future. Mahindra Retail has a unique venture, “Mom & Me” retail stores which specialize in maternity and infant care and have everything for Moms and kids under one roof. In a short span of time, Mahindra Retail has successfully created a strong brand with pan India presence, operating 113+ Mom & Me stores across 48+ cities in India by 2013. Mahindra Retail is also in the distributing business of toys, games, & wellness products under licenses from various international brands like Disney®, Mattel®, & NUK®.
To shop online, please visit www.momandmeshop.inAbout Mahindra The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency. A USD 16.2 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries. In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. In 2013, the Mahindra Group received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category. Visit us at www.mahindra.com Our Social Media Channels Twitter: https://twitter.com/#!/MahindraNewsPinterest: http://pinterest.com/mahindragroup/Facebook: http://www.facebook.com/MahindraGroup 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, Liz Lange, Completely Me, Sideout and Carole Little branded products, the Company’s dependence on Target 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/A for Fiscal Year 2013, 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.