Cherokee Acquires Tony Hawk Line From QuiksilverOriginally published January 13, 2014 at 2:35 p.m., updated January 13, 2014 at 1:43 p.m.
Cherokee Inc., the Sherman Oaks apparel and accessories brand-licensing company, has acquired the Tony Hawk and Hawk Signature apparel brands from Quiksilver Inc. of Huntington Beach for $19 million.
The clothing lines were founded by legendary skateboarder Tony Hawk and sold to Quiksilver Inc. in 2000. The brand is exclusively licensed in the U.S. to Kohl’s Corp. and will continue to be, according to Cherokee.
The acquisition will give Cherokee an opportunity to expand the brand into department stores and specialty channels of distribution globally, Cherokee’s Chief Executive Henry Stupp said in a statement.
“The Tony Hawk brand fits perfectly into our strategy for the globalization of brands, much like we have done for our namesake Cherokee brand and most recently with Liz Lange Maternity,” he said.
The announcement comes a week after the brand licensing company extended its licensing agreement with Target Corp. through January 2017.
Shares of Cherokee were up 9 cents to close at $14.22 on the Nasdaq.