Cherokee Global Brands (NASDAQ: CHKE), a global marketer of style-focused lifestyle brands, announced today that it has entered into a new license agreement with Argos, a subsidiary of Home Retail Group plc, to launch a broad family-assortment of Cherokee lifestyle products online, in catalog and in more than 750 Argos stores across the United Kingdom and Ireland in Fall 2015. Argos is one of the UK's leading digital retailers, with customers able to shop through its website www.argos.co.uk, its growing mobile site and apps, its retail stores and its catalog. Argos continues to be the UK's largest high street retailer online with nearly 123 million customer transactions a year through its 750+ stores and 738 million website and mobile app visits annually. Cherokee's family fashion assortment is scheduled to launch in categories that focus on clothing, accessories and footwear. Cherokee's debut at Argos will be accompanied by a fully integrated marketing campaign, which will include in-store branded signage, social and digital media, and consumer-focused promotions that enhance the "Feels Good" essence of the Cherokee brand. Henry Stupp, Cherokee Global Brand's CEO, commented, "We are looking forward to the continued globalization of the Cherokee brand through our new partnership with Argos. The UK market, in particular, enjoys extremely high awareness and consumer satisfaction with Cherokee-branded products. Cherokee Global Brands recently conducted extensive market research surveys that confirmed the strength and awareness of our brand and the future opportunity of marketing Cherokee products through Argos, both in-store and online." Mr. Stupp continued, "We believe the collaboration with Argos online, via catalogs and in-store, will provide a great home with a successful, growth-oriented partner that is able to fully realize the potential of our brand in a region where strong consumer demand has proven to exist for high-quality, Cherokee fashion at affordable prices. The UK leads many global markets in terms of online apparel purchases versus traditional 'brick and mortar' outlets, with roughly 5-6 times more apparel purchases (per capita) conducted online in the UK versus the U.S., affording us a much expanded consumer reach. We believe that the increasing consumer trend of selecting and purchasing apparel, particularly in the UK, fits well with our plans for the Cherokee brand, and we are delighted that Argos shares the same vision for Cherokee."
David Robinson, Chief Operating Officer at Argos said, "One of the strategies in our transformation programme is to broaden our product ranges and bring on board more great brands which our customers know and want. Cherokee is already a well-established clothing brand with UK shoppers, and we are pleased to be able to offer our customers convenient, nationwide access to a range of quality Cherokee products later this year."About Argos Argos is a leading UK digital retailer, offering around 50,000 products through www.argos.co.uk, its growing mobile channels, stores and over the telephone. Argos continues to be the UK's largest high street retailer online with around 123 million customer transactions a year through its stores and 738 million website and app visits in the 12 months to February 2014. Customers can take advantage of Argos' convenient Check & Reserve service available through its network of 756 stores across the UK and Republic of Ireland. In the financial year to February 2014, Argos sales were £4.1 billion and it employed some 29,000 people across the business. Argos is part of Home Retail Group, the UK's leading home and general merchandise retailer. About Home Retail Group plc (LSE: HOME) Home Retail Group is the UK's leading home and general merchandise retailer with sales of around £5.7 billion in the financial year to February 2014. We sell products under three distinct and complementary retail brands - Argos, Homebase and Habitat. The Group employs some 47,000 people across the business. For more information visit www.homeretailgroup.com. About Cherokee Global Brands Cherokee Global Brands is a global marketer and manager of a portfolio of Fashion and Lifestyle brands including Cherokee®, Carole Little®, Tony Hawk® Signature Apparel and Hawk Brands®, 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 50 countries and 7,000 retail doors plus online business around the world including: Target Stores (U.S.), Kohl's (U.S.), Argos (UK and Ireland), 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), Landmark Group's Max Stores (certain Middle East and North Africa countries), 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, 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 for Fiscal Year 2014, 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.