Cherokee Inc. (CHKE) said Thursday it is branching into China with the launch of its apparel brand at Chinese retailer RT Mart Stores.
Cherokee, based in Van Nuys, Calif., licenses its namesake clothing brand as well as products under the names Laila Ali, Carole Little and others. Its brands are sold in multiple countries at retailers such as Target and T.J. Maxx in the U.S. and Tesco in the U.K.
RT Mart is a unit of Ruentex Industries Ltd., a textile, retail and trading company. It operates more than 134 stores.
Shares fell 25 cents to $19.63 in morning trading.
Disclosure I am long CHKE shares.
Cherokee Inc., together with its subsidiary, SPELL C. LLC, markets and licenses brand names and trademarks for apparel, footwear, and accessories primarily in the United States, Canada, Mexico, the United Kingdom, Europe, and South Africa. It owns various trademarks, including Cherokee, Sideout, Sideout Sport, Carole Little, CLII, Saint Tropez-West, Chorus Line, All That Jazz, and Molly Malloy. The company also assists other brand-owners, companies, wholesalers, and retailers in identifying licensees or licensors for their brands or stores. As of January 30, 2010, it had 25 licensing agreements. The company has a strategic relationship with Target Corporation (Target) that grants Target the exclusive right in the United States to use the Cherokee trademarks in certain categories of merchandise. Cherokee Inc. was founded in 1988 and is based in Van Nuys, California.
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