Bluestar Alliance, LLC Today Announces Definitive Agreement To Sell Liz Lange Maternity® And Completely Me by Liz Lange® Brands To Cherokee Inc.

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Sep 05, 2012, 04:05 ET

NEW YORK, Sept. 5, 2012 /PRNewswire/ -- Bluestar Alliance, LLC, a global brand management group, today announced that it is divesting its investment in the Liz Lange Maternity® and Completely Me by Liz Lange® brands to Cherokee Inc. (NASDAQ: CHKE).

The Liz Lange Maternity® brand is renowned for revolutionizing modern maternity-wear by providing pregnant women with stylish, modern and fashion-forward products. The collection can be found in 1764 Target locations nationwide, as well as on Target.com. Through its prosperous ten-year partnership with Target, Liz Lange Maternity® has completely transformed the maternity clothing market.

In addition, Bluestar Alliance, LLC introduced the Completely Me® brand as a Ready-To-Wear extension beyond the maternity line. The Completely Me® collection is available exclusively through the Home Shopping Network (HSN).

"We are pleased to transition the stewardship of the Liz Lange Maternity® and Completely Me ® brands to Cherokee Inc., one of the premier brand management companies in the industry," said Ralph Gindi, President/COO of Bluestar Alliance, LLC. "Bluestar Alliance has a strong commitment to establishing long-term equity for each one of its owned/acquired brands. This commitment will continue to be a key component of success for all future acquisitions."

About Bluestar Alliance, LLC

Bluestar Alliance, LLC, founded in 2007 by Joseph Gabbay and Ralph Gindi, owns, manages and markets a growing portfolio of consumer brands including Kensie®, Mac + Jac®, Joan Vass®, Kooba®, Yak Pak®, English Laundry®, Hot Kiss®, First Kiss®, Bell + Howell® and Harve Benard®. Previous portfolio inclusions are The Sharper Image® and Ron Chereskin®. Bluestar licenses its brands to a network of best in class manufacturers and retailers both in the U.S. and internationally.

About Cherokee Inc.

Cherokee Inc. is a global marketer and manager of a portfolio of Fashion and Lifestyle brands it owns and represents in multiple consumer product categories and sectors around the world. The Company has license agreements with premier retailers and manufacturers covering over 30 countries around the world including Target Stores (U.S.), Tesco (U.K., Ireland and certain Central European countries), Zellers (Canada), RT-Mart (Peoples Republic of China), Pick n' Pay (South Africa), Falabella (Chile, Peru and Columbia), Arvind Mills (India and certain Middle Eastern countries), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain), Nishimatsuya (Japan), Magnit (Russia) and the TJX Companies (U.S., Canada and Europe).