Cherokee Global Brands said apparel retailer Target Corp
elected not to renew the license of the Cherokee brand in the United States.
The current license will expire on Jan. 31, 2017, Cherokee said in a statement
on Thursday September 10, 2015.
Target has been licensing the Cherokee brand for almost two
decades.
Cherokee earned $15.0 million in royalty revenue from Target
for the Cherokee brand, excluding Canada sales and school uniforms category
sales, in fiscal 2015, according to Cherokee's annual filing.
Cherokee Global Brands is a marketer
and manager of a portfolio of fashion and lifestyle brands including Cherokee®,
Carole Little®, Tony Hawk® 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 best-in-class retailers and
manufacturers covering over 40 countries around the world.
The Cherokee brand, which began as a footwear brand in 1973,
is an iconic American family lifestyle brand, offering classic, casual comfort
at affordable prices.
Learn more about fashion industry licensing
issues here on Apparel Search.