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Spanish Grupo Eroski to work closely with Cherokee team
04 Mar '08
3 min read
Russell J. Riopelle, CFO of Cherokee, added, "For the past several years, while there has been a lot of talk in the industry about international licensing opportunities, Cherokee has gone out and accomplished its goals. Our international retail sales continue to grow, and royalty revenues from our current international retail markets now account for over 50% of our total annual royalties, which is a true testament to our international efforts. As a result, we believe that we are well-positioned and that our growing geographic diversification will continue to benefit our shareholders."
Larry Sass, Senior Vice President, Business Development said, "We are pleased with our continued progress of our 'world brand' strategy. We are continuing to aggressively pursue new partnerships throughout the remainder of Western Europe, part of Asia and Africa as well as Russia and Australia.
Our goal is to develop many new partnerships over the next 12 to 24 months. In addition, we will begin to expand our brand representation business by selectively representing brands internationally to capitalize on new opportunities."
Robert Margolis, CEO of Cherokee, stated: "I'm very proud of the success the Cherokee brand has achieved worldwide. During the next six months, we expect the Cherokee brand will be launched in Brazil with Pao de Acucar; in Peru with Tottus; in Israel with Supersol; and in the Middle East with Al Hokair.
Over the subsequent twelve months we expect the Cherokee brand to be launched in the larger countries of India with Arvind; in selected Asian countries with Tesco, including China, South Korea, Thailand and Malaysia; and in 2009 in Spain with Grupo Eroski. Although we cannot yet predict the magnitude of our upcoming launches of Cherokee in these larger countries, we have a lot of confidence in our retail partners and the vision we share for the Cherokee brand."
Larry Sass, Senior Vice President, Business Development said, "We are pleased with our continued progress of our 'world brand' strategy. We are continuing to aggressively pursue new partnerships throughout the remainder of Western Europe, part of Asia and Africa as well as Russia and Australia.
Our goal is to develop many new partnerships over the next 12 to 24 months. In addition, we will begin to expand our brand representation business by selectively representing brands internationally to capitalize on new opportunities."
Robert Margolis, CEO of Cherokee, stated: "I'm very proud of the success the Cherokee brand has achieved worldwide. During the next six months, we expect the Cherokee brand will be launched in Brazil with Pao de Acucar; in Peru with Tottus; in Israel with Supersol; and in the Middle East with Al Hokair.
Over the subsequent twelve months we expect the Cherokee brand to be launched in the larger countries of India with Arvind; in selected Asian countries with Tesco, including China, South Korea, Thailand and Malaysia; and in 2009 in Spain with Grupo Eroski. Although we cannot yet predict the magnitude of our upcoming launches of Cherokee in these larger countries, we have a lot of confidence in our retail partners and the vision we share for the Cherokee brand."
Cherokee Inc
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