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Cherokee Buys Everyday California

Cherokee Global Brands has acquired casual lifestyle brand Everyday California in an effort to expand its portfolio. The Sherman Oaks apparel company acquired La Jolla-based Everyday from owners Michael Samer and Christopher Lynch. The purchase price was not disclosed. The deal represents another step in Cherokee’s strategy to diversify its operations. In November, the company signed a partnership with Reliance Retail Ltd., a subsidiary of Reliance Industries Ltd. in Mumbai, to distribute apparel at stores in India. In January, it agreed to launch product lines through Argos, a chain of U.K. stores owned by Home Retail Group plc. In the Everyday deal, Lynch and Samer will stay on to grow their flagship store in La Jolla, selling men’s and women’s apparel through a licensing agreement with Cherokee. “Many great active lifestyle brands have been born in California, and we are confident that together with Mike and Chris we can take an already strong brand and make it even more successful.” Henry Stupp, chief executive of Cherokee, said in a statement. The agreement with Everyday closed May 14. Shares closed down 5 cents, or less than 1 percent, to $23.35 on the Nasdaq.

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