SHERMAN OAKS, Calif.--Cherokee Global Brands (NASDAQ: CHKE), a global marketer of style-focused lifestyle brands, announced today that it has acquired casual lifestyle brand Everyday California® from owners and founders Michael Samer and Christopher Lynch. The acquisition closed on May 14, 2015.
Crafted in Southern California, Everyday California embodies the California spirit and celebrates living life to the fullest. From California’s snowcapped mountains to the sandy shores, Everyday California apparel and accessories for men and women are the perfect match for any journey. With its flagship retail store in La Jolla, California, Everyday California was born out of a desire to share the California state of mind and the notion that adventure is just around the corner.
“We are very excited to be adding Everyday California to our portfolio of style-focused lifestyle brands,” said Henry Stupp, CEO of Cherokee Global Brands. “Everyday California’s global potential made the acquisition a perfect fit for Cherokee Global Brands. The brand is more than a state of mind, it’s a way of life! Many great active lifestyle brands have been born in California, and we are confident that together with Mike and Chris we can take an already strong brand and make it even more successful.”
As part of the acquisition, founders Michael Samer and Christopher Lynch will retain ownership and continue to grow their flagship store in La Jolla, selling men’s and women’s apparel, accessories and footwear through a licensing agreement with Cherokee Global Brands. Licensees of Everyday California will benefit from the brand’s unique California essence, from surf to ski all in a day’s time. Samer and Lynch will also become global brand ambassadors, leveraging Cherokee’s existing design, marketing, and supply chain infrastructure to expand the brand’s presence internationally.
“We have been actively working to identify new licensee partners for the brand,” Mr. Stupp continued. “Several licensees have already been identified, and we expect to announce them shortly. In addition, through our global platform and expanded licensing network, we are confident that we will be able to swiftly secure international partners for Everyday California.”
“From its humble beginnings in Venice Beach and deeply rooted in California, Cherokee has become a global leader, known for its feel good philosophy, tradition and incredible brands,” said Christopher Lynch, managing partner of Everyday California. “As a quintessential California lifestyle company, living the California dream day in and day out, we are thrilled to partner with such a like-minded corporation to help shepherd and grow the Everyday California brand.”
“This is an exciting time for Everyday California,” said Michael Samer, managing partner of Everyday California. “We are thankful to Coastal Brand Management for helping bring this partnership to fruition and are looking forward to working with Henry Stupp, Howard Siegel and the entire Cherokee team on taking the brand to the next level. It’s going to be fun!”
Everyday California will be formally introduced to the licensing community under the Cherokee Global Brands awning this June 9-11, 2015 at the Licensing Expo in Las Vegas, booth number J81.
About Cherokee Global Brands
Cherokee Global Brands is a global marketer and manager of a portfolio of Fashion and Lifestyle brands including Cherokee®, Carole Little®, Tony Hawk® Signature Apparel and Hawk Brands®, Liz Lange®, Everyday California® and Sideout®, in multiple consumer product categories and sectors around the world. The Company has license agreements with premier retailers and manufacturers covering over 50 countries and 7,000 retail doors plus online business around the world including: Target Stores (U.S.), Kohl’s (U.S.), Sears Canada (Canada), Argos & Sports Direct (UK and Ireland), RT-Mart (Peoples Republic of China), Pick ‘n Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind Mills (India), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain), Nishimatsuya (Japan), Magnit (Russia), Landmark Group’s Max Stores (certain Middle East and North Africa countries), and the TJX Companies (U.S., Canada and Europe).
About Everyday California
Everyday California is a La Jolla-based lifestyle company, offering ocean adventures and California-sourced premium apparel. Operated by managing partners Christopher Lynch and Michael Samer, the company specializes in guided kayak tours of the La Jolla Ecological reserve and offers surfboard, paddleboard, kayak and snorkel rentals. Everyday California’s apparel line includes fine quality womenswear and menswear, sold at its core retail stores in La Jolla, online and in select locations throughout California.
For more information, visit www.everydaycalifornia.com
Statements included within this news release may contain forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. When used, the words “anticipates,” “believes,” “expects,” “may,” “should,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements included in this press release (including, without limitation, express or implied statements regarding potential future business development) involve known and unknown risk and uncertainties that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties, include, but are not limited to, the effect of global economic conditions, the financial condition of the apparel and retail industry, adverse changes in licensee or consumer acceptance of products bearing the Company’s brands, the ability and/or commitment of the Company’s licensees to design, manufacture and market Cherokee, Liz Lange, Completely Me, Tony Hawk and Hawk Brands, Sideout, Everyday California and Carole Little branded products, the Company’s dependence on Target for most of the Company’s revenues and the Company’s dependence on its key management personnel. The risks included here are not exhaustive. A further list and description of these risks, uncertainties and other matters can be found in the Company’s Annual Report on Form 10-K for Fiscal Year 2015, and in its periodic reports on Forms 10-Q and 8-K. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intent or obligation to update any of the forward-looking statements contained herein to reflect future events and developments.
Cherokee Global Brands:For licensing information /Mark Nawrocki, Executive Vice President Global Business Development/818-908-9868 firstname.lastname@example.org
Investor and financial information/Jason Boling, CFO/818-908-9868 email@example.com
Investors:Patricia Nir/Kimberly Esterkinfirstname.lastname@example.org; email@example.com
International Licensing Agents:CPLG (United Kingdom/EU/Nordic Countries)/Rob Spindley, +44 20 8563 firstname.lastname@example.org
Haven (Australia/ New Zealand)/Tom Punch, +61 2 9357 email@example.com
Gaia (Japan)/Grace Morita, +81 3 5459 firstname.lastname@example.org
Segal Licensing (Canada)/Stuart Pollock, 416-545-5589/Stuart.Pollock@segallicensing.com
Everyday California:Media Contact:Anna Crowe, Crowe PRemail@example.com
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