Cherokee Global Brands Announces License Agreement with Sears Canada for its Liz Lange Brand in Canada

Through an exclusive license agreement effective May 3, 2015, both Cherokee Global Brands (NASDAQ: CHKE) and Sears Canada Inc. (TSX: SCC) (NASDAQ: SRSC) are pleased to announce and welcome Liz Lange Maternity and Sportswear including expanded size ranges to Sears Canada stores and online at www.sears.ca beginning with the Spring 2016 selling season.

A fashion designer and mother, Liz Lange pioneered “maternity chic” by creating stylish, body conscious clothes for pregnant women and revolutionized maternity wear by celebrating the bump. The line to be carried at Sears offers affordable maternity pieces, from flattering jeans and T-shirts to on-trend dresses and swimsuits for pregnancy and beyond.

“With Canadian families being the core of Sears Canada’s customer base, our shoppers are always in demand for well-made stylish yet affordable maternity wear,” said Ron Boire, President and Chief Executive Officer, Sears Canada Inc. “Expectant mothers shop us for nursery equipment and infant apparel in significant numbers, and we expect Liz Lange maternity wear to be a solution that fulfills the needs of expectant moms to find clothes for themselves. We look forward to a rewarding relationship with Liz Lange as we move forward with this exciting new line.”

“The Canadian consumer has truly embraced the Liz Lange brand,” said Liz Lange, Founder and Creative Director of Liz Lange Maternity & Sportswear. “I am very much looking forward to working closely with Sears Canada to continue to bring great style and value to the Canadian market with our fashionably designed maternity and sportswear collections.”

“We are very excited to partner with Sears Canada and to have the opportunity to continue to bring the Liz Lange brand to a broader customer base in Canada. In addition to Liz Lange Maternity wear, the Canadian consumer will now be able to buy stylish sportswear at affordable prices that extends 'Liz Lange Style' beyond maternity,” said Howard Siegel, President & COO, Cherokee Inc. “As we do with all our partners, we will support this relationship with our unique 360 degree service model; enabling us to continue our distribution of the Liz Lange brand in Canada. We look forward to a successful partnership with Sears Canada.”

About Sears Canada

Sears Canada is a multi-channel retailer with a network that includes 172 corporate stores, 201 Hometown stores, over 1,300 catalogue and online merchandise pick-up locations, 96 Sears Travel offices and a nationwide repair and service network. The Company also publishes Canada's most extensive general merchandise catalogue and offers shopping online at www.sears.ca.

About Cherokee Global Brands

Cherokee Global Brands is a global marketer and manager of a portfolio of Fashion and Lifestyle brands including Cherokee®, Carole Little®, Tony Hawk® Signature Apparel and Hawk Brands®, Liz Lange® and Sideout®, in multiple consumer product categories and sectors around the world. The Company has license agreements with premier retailers and manufacturers covering over 50 countries and 7,000 retail doors plus online business around the world including: Target Stores (U.S.), Kohl’s (U.S.), Argos & Sports Direct (UK and Ireland), RT-Mart (Peoples Republic of China), Pick ‘n Pay (South Africa), Falabella (Chile, Peru and Colombia), Arvind Mills (India), Shufersal LTD. (Israel), Comercial Mexicana (Mexico), Eroski (Spain), Nishimatsuya (Japan), Magnit (Russia), Landmark Group’s Max Stores (certain Middle East and North Africa countries), and the TJX Companies (U.S., Canada and Europe).

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, the effect 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 and Carole Little branded products, the Company’s dependence on Target for 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 2014, 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.