SHERMAN OAKS, Calif., Dec. 20, 2018 (GLOBE NEWSWIRE) — The Batra Group and Cherokee Global Brands (NASDAQ: CHKE), a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands, today announced a new license agreement for the TONY HAWK® brand for apparel and accessories in Europe, Middle East and Africa.
Celebrating the lifetime success of Tony Hawk as an iconic skateboarder, global sports personality, entrepreneur and philanthropist, the TONY HAWK® Signature Line collection ties all these successes together. The line will debut in influential top tier fashion stores and specialty skate stores.
Tony Hawk, commenting on the collection launch, said, “The vision behind the range was to give fashion and skate enthusiasts alike a rare glimpse into my life before and beyond skating. The collection was designed for both innovators and iconoclasts.”
Rajiv Batra, Executive Chairman of the Batra Group, stated, “The TONY HAWK® license is a strategic and natural fit to our group’s portfolio with the influence of skateboarding set to increase within the lifestyle market over the next few years. It is a great pleasure to add the iconic TONY HAWK® brand license to our portfolio of globally recognized brands.”
Henry Stupp, CEO of Cherokee Global Brands, added, “We are pleased to expand our successful relationship and grow the TONY HAWK® brand strategically with the Batra Group through this new license partnership. The positive momentum of the skate and streetwear segments combined with the addition of skateboarding to the 2020 Summer Olympics will raise the profile of skateboarding globally. We are thrilled to be playing a part in driving the cultural conversation around skate through an introduction of a product range, honoring the greatest skateboarder of all time.”
Website: www.tonyhawksignatureline.com
Instagram: @tonyhawksignatureline
For more information, please contact:
Investor Relations:
Patricia Nir, Addo Investor Relations
pnir@addoir.com
Cherokee Global Brands:
Nadine Iacocca, VP Global Marketing
nadinei@cherokeeglobalbrands.com
Batra Group:
Dave Hendriks, Brand Manager
dh@tonyhawksignatureline.com
About Batra Group
The Batra Group was formed in 1947 and it has gone from strength to strength under its Indian ownership. BG specializes in Manufacture, Brand Distribution and Marketing and has a wealth of experience in Apparel, Accessories and Footwear sourcing. It has a Global presence and have headquarters in London and Mumbai with offices across India, Singapore, China, Indonesia and Portugal.
The Batra Group’s vision is to build sustainable businesses that create shareholder and brand values whilst sticking to its core values of Humility, Ownership, Passion, Family Ethics and Transparency.
About Cherokee Global Brands
Cherokee Global Brands is a global brand marketing organization that manages a growing portfolio of fashion and lifestyle brands including Cherokee®, TONY HAWK® Signature Apparel and Hawk Brands®, Liz Lange®, Everyday California®, Sideout®, Hi-Tec®, Magnum®, 50 Peaks® and Interceptor® across multiple consumer product categories and retail tiers around the world.
The Company currently maintains license and franchise agreements with leading retailers and manufacturers that span over 110 countries in 12,000 retail locations and digital commerce.
Safe Harbor Statement
This news release may contain forward-looking statements regarding future events and the future performance of Cherokee Global Brands. Forward-looking statements in this press release include, without limitation, express or implied statements regarding: the Company’s forecasted operating results for fiscal year 2019; the Company’s expectations regarding its new and existing license agreements and the performance of its licensees thereunder; the Company’s ability to sustain necessary liquidity and grow its business; and anticipated market developments and opportunities. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances and is based on currently available market, operating, financial and competitive information and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expected or projected, including, among others, risks that: the Company and its partners will not achieve the results anticipated in the statements made in this release; global economic conditions and the financial condition of the apparel and retail industry and/or adverse changes in licensee or consumer acceptance of products bearing the Company’s brands may lead to reduced royalties; the ability and/or commitment of the Company’s licensees to design, manufacture and market Cherokee®, Hi-Tec®, Magnum®, 50 Peaks®, Interceptor®, Carole Little®, Tony Hawk® and Hawk Brands®, Liz Lange®, Everyday California® and Sideout® branded products could cause our results to differ from our anticipations; the Company’s dependence on a select group of licensees for most of the Company’s revenues makes us susceptible to changes in those organizations; and the Company’s dependence on its key management personnel could leave us exposed to disruption on any termination of service. A more detailed discussion of such risks and uncertainties are described in the Company’s annual report on Form 10-K filed on April 19, 2018, its periodic reports on Forms 10-Q and 8-K, and subsequent filings with the SEC the Company makes from time to time. Except as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.