Cherokee Global Brands announced Monday it has inked new deals with four fashion companies to distribute its Cherokee branded products to retailers in the United States, compensating for the loss of its Target Corp. contract in the U.S.
The Sherman Oaks brand licensing company announced new licensing agreements with M. Hidary & Co., a casual and sportswear manufacturer in New York; Bentex Group in Vernon, which produces and sells clothes for newborns and children; New York-based H.I.S. International Group, which specializes in apparel for children; and Dreamwave Apparel, a swimwear and sleepwear distributor in New York.
Each apparel company will distribute Cherokee branded products to specialty and mass retailers in the U.S.
These strategic partnerships follow Cherokee’s announcement last year that Target Corp. will not renew its license for the Cherokee brand in the U.S., a contract that ends February 2017.
Cherokee has been working to replace that business ever since, and earlier this month appointed new Executive Vice President of Business Development Randi Spieker to foster new U.S. wholesale and retail relationships.
“The growing strength of our licensee base will provide our retail partners and their customers full access to an expanded assortment of Cherokee products for the entire family,” said Henry Stupp, Cherokee chief executive, in a statement. “We are currently engaged in discussions with retailers and wholesalers that have expressed strong interest in our expanded category offerings in both the physical and digital space.”
Cherokee announced the deals Monday. Shares closed Tuesday down 39 cents or 2.2 percent to $17.27 on the Nasdaq.