Cherokee Inc. has retained UBS Investment Bank to assist its Board of Directors in considering possible strategic alternatives.

Robert Margolis, the Company’s Chairman and Chief Executive Officer, said, “Our Board believes that this is an opportune time for us to explore alternatives for enhancing stockholder value and building upon our accomplishments in our businesses. As we participate in this process, we will continue to focus on ways of strengthening these businesses.”

No decision has been made as to whether the Company will engage in a transaction or transactions resulting from the Board’s consideration of strategic alternatives, and there can be no assurance that any transaction or transactions will occur or, if undertaken, the terms or timing thereof.