Tie up between Reliance and Cherokee to develop New Fashion Label
Reliance Retail and US firm ‘Cherokee Global Brands’ are jointly developing a new fashion brand that will be retailed through Reliance Trends outlets to tap the growing demand for such products in the country.
Both the companies announced that they have entered into a “long-term” licensee agreement to develop what will be value brand, which they plan to subsequently expand globally.
“For years, we have been impressed with the quality of brands, managed and developed by Cherokee Global Brands and are now excited to partner with them on this key initiative,” Mr. Akhilesh Prasad, CEO at Reliance Trends said.
The Nasdaq-listed Cherokee owns various fashion and lifestyle brands including Cherokee, Tony Hawk and Liz Lange.
“We are excited to partner with Reliance on this endeavour and continue developing relationships with world-class retailers in all major markets,” Mr. Howard Siegel, president & COO of Cherokee Global Brands said.
This would be the second agreement for Cherokee in India as it has licensed Arvind Brands to manufacture and sell its label in the country. Currently, Cherokee products are sold in 50 countries including the US, UK, Japan and China.