Home / Knowledge / News / Apparel/Garments / Cherokee acquires Tony Hawk & Hawk brands from Quiksilver
Cherokee acquires Tony Hawk & Hawk brands from Quiksilver
16
Jan '14
Cherokee Inc., a global marketer of style-focused lifestyle brands, announced that it has acquired the worldwide Tony Hawk and Hawk signature apparel brands from Quiksilver, Inc. for an all-cash purchase price of $19 million. The acquisition closed on January 10, 2014.

Tony Hawk, the most dominant athlete in skateboarding history, is the founder of Tony Hawk clothing which was originally sold to Quiksilver, Inc. in 2000. The brand was, and will continue to be, exclusively licensed in the United States to Kohl’s Corporation with Tony Hawk clothing and accessories sold in 1,158 Kohl’s Department Stores and online.

Hawk was ranked the number-one vertical ramp skateboarder in the world every year from 1984 to 1996 and is best known for completing the first documented 900-degree aerial spin at the 1999 X Games. Over the past 12 years, the Tony Hawk Foundation has donated over $4.6 million to help create 537 skateparks throughout the U.S. Hawk continues to be the most prominent athlete bridging action sports with the consumer market, solidifying his legacy as the “Original Innovator” promoting “board” culture worldwide.

Tony Hawk commented on the recent acquisition, "I’ve been working closely with the Cherokee team and will continue to be actively involved in the brand’s development, connecting with fans and action sports enthusiasts worldwide. I am very excited to be working with Cherokee and to continue the line’s successful relationship with Kohl’s while expanding our relationships globally."

“The acquisition of the Tony Hawk signature apparel brand is a great way to start the New Year for Cherokee,” Henry Stupp, Cherokee’s Chief Executive Officer, noted. “This is Cherokee’s third strategic acquisition in just over a year. We identified the Tony Hawk brand for a variety of reasons including the opportunity to further expand into the department store and specialty channels of distribution globally.

"We expect the transaction to be immediately accretive and look forward to continuing to execute our long-term growth plan that seeks additional new markets for our existing brands; expands our product offerings with our current partners; and identifies additional lifestyle brands to add to our portfolio.”

Mr. Stupp continued, “The Tony Hawk brand fits perfectly into our strategy for the globalization of brands much like we have done for our namesake Cherokee brand and most recently with Liz Lange Maternity. We’d like to welcome Tony and his over 5 million Facebook fans, his more than 3.5 million Twitter followers, his YouTube fans with over 20 million views and his more than 1 million Instagram followers to the Cherokee family of brands. We look forward to much success together.”

Financo acted as exclusive financial advisor to Cherokee Inc. in the transaction.

On January 10, 2014 in connection with the acquisition, Cherokee and JPMorgan Chase Bank entered into a credit agreement to finance the purchase of the Tony Hawk and Hawk signature apparel brands. The Company intends to file a Current Report on Form 8-K with the Securities and Exchange Commission with additional information regarding the terms of the acquisition, the agreement with Kohl’s and the credit agreement.

Cherokee

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search