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


Interviews View All

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search