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

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Top executives
Textile industry, India

The event should be organised every year

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search