Fast-growing Russian mass merchant Magnit will be carrying an American asset as it continues its expansion push.
The Krasnodar-based retailer, which exceeded $11.5 billion in sales in 2011, its 18th year in business, has launched Cherokee apparel for men, women and kids in select units among its fleet of more than 5,000 convenience stores and 93 hypermarkets. The arrival of Cherokee merchandise, undertaken with a marketing campaign including in-store promotion and print, television and other advertising, comes about nine months after Cherokee signed a licensing agreement giving Magnit exclusive rights to the brand name in Russia, according to Henry Stupp, chief executive officer of Cherokee Inc.
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