Cherokee Global Brands, which is responsible for about US $ 1 billion sales of Target’s annual sale of approximately US $ 73 billion, will be dropped by Target Corp. in 2017, once its license expires. With increasing its focus on kids wear, Target is looking forward to add-on several new brands to its bandwagon. Cherokee has been working with Target, mainly for children’s clothes, since 1997, however the Liz Lange maternity brand for which it has an agreement with Target will remain intact.
Cherokee in its recent annual report had mentioned that it received US $ 15 million in royalties from Target in the last fiscal year, accounting for about 43 per cent of its overall revenue.
