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Cherokee Inc. Announces its New Corporate Headquarters

Cherokee Inc., the $30 million global fashion marketer, announced today that effective December 1, 2011, it will relocate its corporate headquarters to a larger 10,000-square-foot office facility also in Van Nuys. The move is part of Cherokee’s strategy to better accommodate its growth initiatives, design and merchandising resources, while continuing to enhance the Company’s products internally. “This relocation provides much-needed room and will allow us to better transform our Company and strengthen our relationships and internal operations as we head into Fiscal 2013 and beyond, said Henry Stupp, Chief Executive Officer. “This move ensures that we are in the best position possible to accelerate our planned growth initiatives while still strategically managing our expenses.” Stupp said the location offers “significantly enhanced design and merchandising space” and better reflects the vision of the new Cherokee. “We can now better focus on providing additional creative solutions and delivering ongoing seasonal designs for our major product categories including fashion, accessory, home textile, room décor and footwear.” Cherokee Inc.’s new office is located at 5990 Sepulveda Blvd. The company was able to secure this new lease at advantageous rates with minimal additional annual costs to the company, Stupp said. Cherokee reported fiscal 2011 year-end earnings of $7.7 million for the year ended January, 2011, down almost 40% from the year ago period. Revenues also slid to $12.9 million for the year to $12.9 million from $20.4 million. The company has licensing agreements with Target Stores, TJX Companies, Tesco in the U.K. and others globally.

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