USA: Cherokee Signs Agreement to Represent Aspen Brand Worldwide
Cherokee will engineer strategic licensing agreements for the brand's expansion in the United States and throughout the world. The Aspen brand has enjoyed a 50-year history beginning as a functional performance brand for outdoors enthusiasts, and evolving into a broader lifestyle brand representing fashionable, rugged looks with an upscale attitude.
The products include: outdoor and casual sportswear, accessories, outerwear, watches, sunglasses and footwear, as well as sports, recreational and home products for all ages and genders.
Howard Siegel, President of Cherokee Inc., said: "Combining our licensing strategies with Aspen's distinctive and authentic heritage franchise should enable the brand to significantly increase its market share in North America and around the world. Due, in part, to the tremendous success of Coty's Aspen fragrances, the brand today exceeds $80 million in sales worldwide and enjoys immense consumer awareness."
Allan Metsky, President of Aspen Licensing International Inc., stated: "Cherokee's preeminent market position, unparalleled success, and unique licensing strategies are transforming the retail industry in a very short period of time. We've been very impressed with Cherokee's fresh, innovative approach to leveraging brand equity. They have developed a business template that is extremely successful in America today. We are delighted to join forces with Cherokee as we seek to expand our presence in North America and beyond."
Robert Margolis, Chairman and CEO of Cherokee, added: "Aspen is an ideal brand to expand worldwide. We screen several companies weekly but are very selective to choose only those that have equity and favorable consumer awareness. So many names are labels, not brands. Aspen is a powerful brand whose lifestyle and popularity will grow exponentially. We are excited to represent the Aspen brand."
Cherokee's announcement today follows the recent announcement of its representation agreement with Maui and Sons as well as the industry-rocking agreement it engineered between Target Stores Inc. (NYSE:TGT) and Mossimo Inc. (NYSE:MGX) using the Cherokee template. Recently Cherokee also announced record earnings for fiscal 2000 and a new license agreement with DongKwang International Co. Ltd., to open Cherokee stores in Korea beginning in 2001.
Cherokee, based in Van Nuys, is a marketer, licensor and manager of a variety of brands it owns or represents, and is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel, fashion accessories, as well as luggage, cosmetics and footwear.
Statements included within this news release that are not historical in nature constitute forward-looking statements for the purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Investors are cautioned that this news release contains certain such forward-looking statements that involve substantial risks and uncertainties. When used, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they related to the Company or its management are intended to identify such forward-looking statements. The company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements. Further management discussion of risks and uncertainties can be found in the company's quarterly filing with the Securities and Exchange Commission and other periodic filings.
Companies: Cherokee Inc
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