Cherokee Global Brands changes name to Apex Global Brands
According to a press release from the company, the name change is meant to reflect the company's expanded brand portfolio, marketing and design services.
“Over the last decade, we expanded our offering beyond our namesake Cherokee brand to a well-rounded assortment of high-equity lifestyle brands,” said Henry Stupp, the company’s chief executive officer.
"Through the Apex platform, our owned brands will be able to grow into new categories, multiple distribution channels and new geographies without limitation.”
Recent additions to the company’s portfolio of brands include Hi-Tec, Magnum, Interceptor and 50 Peaks.
“Our retail partners and licensees will be able to expand their global reach and relevance, and our shareholders will benefit from our transformation into a streamlined organization that can reach new levels of profitability,” Stupp continued.
“We are now positioned to deepen our relationships with licensees as we assist our partners to deliver more product and introduce new categories faster and more efficiently than ever before."
Earlier this year in April, the company announced a fourth-quarter net loss of $0.6 million, marking a major improvement from the loss of $45.2 million it reported in the prior-year period, thanks to the company’s successful restructuring efforts.
On June 27, the company's common stock will trade on the Nasdaq Capital Markets under the ticker "APEX," previously "CHKE". The company's corporate rebranding will also include updates to its website and a revised communications offering.
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