Cherokee Buys Back School Uniform Brand

On Monday, apparel brand licensor Cherokee announced that it has reclaimed its Cherokee School Uniform category from privately held uniform manufacturer Strategic Partners, bringing what Cherokee termed "a strategic business" (apparently with no pun intended) "back within our control."

Cherokee noted that by bringing School Uniform back under its control, it will be able to "further strengthen our relationship" with Target -- to whom it licenses its Cherokee brand -- "through a multiyear license term, which includes separate minimum guarantees and additional royalties." Cherokee added that it expects the move to be "immediately accretive for shareholders."

Other than that, Cherokee disclosed no information on the financial terms of its deal with Strategic Partners.


In other licensing news, Cherokee announced that it has extended its brand license agreement with retailer Comercial Mexicana through Dec. 31, 2019.

Like most stocks on the market Monday, however, Cherokee shares declined in value, closing the day down 0.4% at $13.90.

The article Cherokee Buys Back School Uniform Brand originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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