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Cherokee Global Brands Announces the Acquisition of the Everyday California Lifestyle Brand

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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.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150519005927/en/

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.

Posted-In: News M&A Press Releases

 

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