Brand-name marketer CHEROKEE INC. has changed its approach to the Japanese market. Under a long-term agreement, the Van Nuys, California licensor named ITOCHU CORP. as its master licensee. The big trader has the right to manufacture, promote, sell, distribute and sublicense products bearing the Cherokee brand. Cherokee's existing licensees will become part of a group of companies that Itochu will put together to expand the Cherokee name to a broader range of products. The brand currently is licensed for men's casualwear, fashion accessories, luggage and footwear. Additional categories being eyed by Itochu include women's sportswear, kidswear, watches and stationary.
Manhattan's REMINISCENCE LTD., known among teenagers for the retro flair of its clothing and accessories, has granted MITSUBISHI CORP. exclusive rights to license the Reminiscence trademark under a multiyear agreement. LEO CO., LTD., which operates a chain of stores in northern Japan selling jeans and other casual clothing, plans to open Reminiscence stores under an arrangement with Mitsubishi. As part of the deal with the American company, the trader will spend at least $1.6 million to advertise the Reminiscence brand and pay royalties on sales, including a minimum annual amount.
An exchange rate of ¥117=$1.00 was used in this report.aaaaaa