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Cherokee Makes Stock Option Grant to New Chief Financial Officer, Jason Boling

  Cherokee Makes Stock Option Grant to New Chief Financial Officer, Jason
  Boling

Business Wire

SHERMAN OAKS, Calif. -- March 28, 2013

Cherokee Inc. (NASDAQ: CHKE), a global marketer of style-focused lifestyle
brands, today announced, as required by NASDAQ Listing Rule 5635(c)(4), that
the Company has made a stock option grant to a new employee, Chief Financial
Officer Jason Boling.

Cherokee’s Compensation Committee of its Board of Directors approved a grant
of stock options as an inducement grant outside of Cherokee’s 2006 Equity
Incentive Plan ("Plan"). The stock option grant was entered into as an
inducement material for the employee to enter into employment with Cherokee.
Cherokee expects to file a Form S-8 to register this stock option grant.
Cherokee is providing this information in accordance with NASDAQ Listing Rule
5635(c) (4).

The stock option grant has an exercise price equal to the closing price of
Cherokee's common stock on the grant date. The option has a term of seven (7)
years and will be generally forfeited if not exercised before the expiration
of the term. If the applicable employee's employment with Cherokee is
terminated for any reason, the terminated employee's option shall cease
vesting upon such termination. There was one option grant totaling 30,000
underlying shares, as follows:

On March 25, 2013, an option to acquire an aggregate of 30,000 shares was
granted to Jason Boling, Cherokee’s Chief Financial Officer. One-third of the
option vests on March 25, 2013, the one-year anniversary of the grant date,
and the remainder vests thereafter in two equal annual installments, so that
the option is vested in full on the three-year anniversary of the grant date.

AboutCherokee Inc.

Cherokee Inc.is a global marketer and manager of a portfolio of Fashion and
Lifestyle brands including Cherokee®, Carole Little®, Liz Lange® and Sideout®,
in multiple consumer product categories and sectors around the world. The
Company's annual global retail sales of owned brands are approaching$2
billionwith license agreements with premier retailers and manufacturers
covering over 40 countries around the world including Target Stores
(U.S.),Tesco(U.K.,Irelandand certain Central European countries),Zellers
(Canada), RT-Mart (Peoples Republic of China), Pick ‘n Pay (South Africa),
Falabella (Chile,PeruandColombia),Arvind Mills(Indiaand certain Middle
Eastern countries),Shufersal LTD.(Israel), Comercial Mexicana (Mexico),
Eroski (Spain), Nishimatsuya (Japan),Magnit(Russia), Landmark Group’sMax
Stores(certainMiddle EastandNorth Africacountries), and theTJX
Companies(U.S., CanadaandEurope).

Statements included within this news release may contain forward-looking
statements for purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995.When used, the words “anticipates,” “believes,”
“expects,” “may,” “should” and similar expressions are intended to identify
such forward-looking statements.Forward-looking statements included in this
press release (including, without limitation, express or implied statements
regarding potential future business development) involve known and unknown
risk and uncertainties that may cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.Such risks and uncertainties include, but are not
limited to,theeffect of global economic conditions, the financial condition
of the apparel and retail industry, adverse changes in licensee or consumer
acceptance of products bearing the Company’s brands, the ability and/or
commitment of the Company’s licensees to design, manufacture and market
Cherokee,Liz Lange, Completely Me, Sideout andCarole Littlebranded
products, the Company’s dependence onTargetfor most of the Company’s
revenues and the Company’s dependence on its key management personnel.The
risks included here are not exhaustive. A further list and description of
these risks, uncertainties and other matters can be found in the Company’s
Annual Report on Form 10-K for Fiscal Year 2012, and in its periodic reports
on Forms 10-Q and 8-K. Given these risks and uncertainties, you should not
place undue reliance on forward-looking statements as a prediction of actual
results. The Company disclaims any intent or obligation to update any of the
forward-looking statements contained herein to reflect future events and
developments.

Contact:

Cherokee Inc.
Jason Boling, CFO
818-908-9868
or
Addo Communications, Inc.
Patricia Nir/Kimberly Esterkin
310-829-5400
 
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