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Tuesday, May 30, 2023

Cherokee Strikes India Deal

Cherokee Inc., the apparel and accessories brand-licensing company, announced Tuesday it struck a deal to have its Liz Lange Maternity Brand sold online and at retail stores in India. The Van Nuys company reached an agreement with Mahindra Group of Mumbai to have the maternity brand sold at Mahindra’s Mom & Me retail stores and web sites. Mom & Me features baby apparel, baby care products and apparel for children. “This is an important step towards our globalization of the Liz Lange brand as we continue to pursue additional partnerships around the world,” said Cherokee Chief Executive Henry Stupp in a statement. Cherokee acquired the Liz Lange brand in the second fiscal quarter of this year, according to documents filed with the Securities and Exchange Commission. The India venture marks Cherokee’s latest push into international markets. Earlier this year, Landmark Group of Dubai began selling Cherokee’s collection of men’s, women’s and children’s clothing at its Max stores in the United Arab Emirates, Saudi Arabia and Kuwait. And in August, Cherokee inked a deal to sell its brands in Indonesia at department stores SOGO and SEIBU, both of which are owned by retailer PT Mitra Adiperkasa Tbk of Jakarta. Cherokee’s portfolio includes Cherokee, Liz Lange, Sideout and Carole Little. The company has licensing agreements in 40 countries. Shares closed unchanged at $14.36 on the Nasdaq.

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