SHERMAN OAKS, Calif., Nov. 01, 2018 (GLOBE NEWSWIRE) -- Cherokee Global Brands (CHKE), a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands, today announced that it has appointed Evan Hengel to the Company’s Board of Directors. Mr. Hengel will serve as a director of the Company effective immediately.
“Evan is an inspirational leader and the perfect addition to our Board of Directors,” commented Henry Stupp, Chief Executive Officer of Cherokee Global Brands. “Having worked with him and the Berkeley Research Group on our debt refinancing with Gordon Brothers, I have witnessed firsthand his extensive operational experience, as well as his financial and industry acumen. We look forward to working closely with Evan and with the rest of the Board to scale our brands, enhance productivity and grow profitably.”
Mr. Hengel brings over 11 years of experience navigating complex financial, operational, and M&A processes. Mr. Hengel has led engagements that have resulted in numerous honors, professional awards, and recognition. He holds a Bachelor of Science with Honors from the University of Kansas.
“I’m honored to join Cherokee Global Brands’ Board of Directors,” commented Mr. Hengel. “Having worked with the company this past year, I believe that the senior leadership team has a compelling vision for the future of its brand portfolio, and I look forward to helping guide that strategic direction.”
About Cherokee Inc.
Cherokee is a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands including Cherokee®, Hi-Tec®, Magnum®, 50 Peaks® and Interceptor®, Tony Hawk® Signature Apparel and Hawk Brands®, Carole Little®, Liz Lange®, Everyday California®, Sideout®, across multiple consumer product categories and retail tiers around the world. The Company currently maintains license agreements with leading retailers and manufacturers that span over 100 countries, with distribution across 20,000+ retail locations and multiple ecommerce platforms.
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.
Cherokee Global Brands
Steven Brink, CFO
Addo Investor Relations
Laura Bainbridge/Patricia Nir