In its third acquisition in just over a year, Cherokee has bought the Tony Hawk and Hawk apparel brands from Quiksilver for $19 million in cash.
Renowned skateboarder Tony Hawk founded the brands, which were originally sold to Quiksilver in 2000.
The brands will continue its exclusive relationship with Kohl’s in the U.S.
“We identified the Tony Hawk brand for a variety of reasons including the opportunity to further expand into the department store and specialty channels of distribution globally,” says Henry Stupp, chief executive officer, Cherokee. “We expect the transaction to be immediately accretive and look forward to continuing to execute our long-term growth plan that seeks additional new markets for our existing brands, expands our product offerings with our current partners and identifies additional lifestyle brands to add to our portfolio. The Tony Hawk brand fits perfectly into our strategy for the globalization of brands much like we have done for our namesake Cherokee brand and most recently with Liz Lange Maternity.”
"I’ve been working closely with the Cherokee team and will continue to be actively involved in the brand’s development, connecting with fans and action sports enthusiasts worldwide,” says Hawk. “I am very excited to be working with Cherokee and to continue the line’s successful relationship with Kohl’s while expanding our relationships globally."