08/13/2019 | Press release | Distributed by Public on 08/13/2019 14:21
SHERMAN OAKS, Calif., Aug. 13, 2019 (GLOBE NEWSWIRE) -- APEX Global Brands (NASDAQ: APEX), a global brand ownership and marketing organization that manages, creates and elevates a growing portfolio of high-equity lifestyle brands, today announced the launch of Everyday California® at Tiendas Chedraui, one of the largest retailers in Mexico with over 260 locations throughout the country.
The Everyday California® brand embraces the choice to live life to the fullest. From California's sandy shores to its snowcapped mountains, Everyday California® offers cool casual pieces to outfit every adventure. Everyday California's 'beach life' inspired collection is now available at Chedraui stores, and beginning this Fall 2019, stores will also carry an expanded assortment of products for men's, women's and children's apparel, accessories and casual footwear. Further brand expansion in stores, including home goods, is planned for Spring 2020.
'We are very pleased to partner with Chedraui to further develop our Everyday California brand in Mexico,' said Howard Siegel, president and chief operating officer of APEX Global Brands. 'Chedraui's speed to market, from conception to product in stores, was extremely impressive and positions us well to capitalize on demand in the marketplace. We look forward to a successful partnership.'
'We are excited to welcome the Everyday California team and brand to Chedraui,' said Maviael Rodea, License Coordinator for Tiendas Chedraui. 'Everyday California is the perfect example of a brand that provides the possibility to wear and live the 'cool and fresh' lifestyle. Chedraui is one of the most important retailers in Southeastern Mexico. The weather and the consumers in this region make the perfect match for Everyday California at Chedraui stores. We will be the first retailer to bring this type of lifestyle clothing to Mexico, and our whole team is pleased to include Everyday California in Chedraui's family of brands. APEX's knowledge of the Mexican retail market will ensure that the product offered satisfies our consumers' needs.'
About APEX Global Brands
APEX Global Brands is a global brand ownership and marketing organization that manages, creates and elevates a growing portfolio of high-equity lifestyle brands. The brand portfolio spans multiple consumer product categories and retail tiers around the world and includes Hi-Tec®, Magnum®, 50 Peaks®, Interceptor®, Cherokee®, Tony Hawk®, Liz Lange®, Point Cove®, Carole Little®, Everyday California® and Sideout®. The Company currently maintains license agreements with leading retailers and manufacturers that span approximately 140 countries in over 20,000 retail locations and digital commerce. For more information, please visit the Company's website at apexglobalbrands.com.
Safe Harbor Statement
This news release may contain forward-looking statements regarding future events and the future performance of Cherokee Global Brands. 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; our level of indebtedness and restrictions under our indebtedness; 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 23, 2019, 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.
APEX Global Brands
Steve Brink, CFO
Addo Investor Relations
Kimberly Esterkin/Patricia Nir
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf5a6025-56f9-402e-a7c0-875f81b81b72