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CJSC Tander's, Magnit launches Cherokee Brand
09
Feb '11
Cherokee Inc, a global brand management company, announced that it has entered into an exclusive license agreement for its namesake CHEROKEE brand with CJSC Tander's, Magnit Stores. The multi-year agreement covers a wide range of family lifestyle categories including men's, women's, and children's clothing; as well as footwear and accessories. Based in Krasnodar, Russia, Magnit is a leading Russian retailer consisting of hypermarkets and convenience stores in 1,048 locations throughout the Russian Federation.

Aslan Stash, Non-Food Purchasing Director, Magnit Stores said, "We are happy to sign this contract with Cherokee. This exclusive agreement is an important step for Magnit to increase the quality of goods and services that we provide to our customers. The Cherokee brand is positioned around the globe as an iconic American family-lifestyle brand, offering classic, casual comfort at affordable prices. This brand positioning fully aligns with Magnit's concept for its general stores and hypermarkets.

“Today the Russian textile industry has just started growing after the whirlwind of 1990s; various imported apparel and footwear products have flooded the Russian market; creating confusion for consumers with regards to the quality of those goods. In our case: the Cherokee brand will provide Magnit with quality and comfortable clothing, and we, Magnit, as you know, offer affordable prices. As a result, our cooperation should be very beneficial for all market participants".

Mark Nawrocki, Cherokee's Regional President for Europe said, "Magnit is a premier retailer throughout Russia and this partnership will continue to reinforce the Cherokee Brand lifestyle, globally. We are excited to partner with Magnit and look forward to working together to launch and grow Cherokee in Russia." "With this agreement, Cherokee is now licensed in thirty countries and five continents. We plan to continue to build upon our 'global brand vision' throughout Europe as well as Asia, Australia, and Latin America," Nawrocki continued.

The Company also made the following personnel announcements. Fransisca Chang was promoted to Regional Vice President, Asia and Junko Mack was recently hired as Regional Director, Japan; both reporting to Larry Sass, Regional President & Managing Director, Asia. In addition, Mira Skibinska was hired as Regional Director, Europe, reporting to Mark Nawrocki, Regional President and Managing Director, Europe. These appointments all follow recent announcements including the launch of the Cherokee brand in China with RT Mart, the recently announced partnership with Nishimatsuya in Japan and Magnit Stores in Russia.

Cherokee Inc

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