8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d)

of The Securities Exchange Act OF 1934

Date of Report: January 23, 2003

(Date of earliest event reported)

CHEROKEE INC.

(Exact name of Registrant as specified in its Charter)

Delaware	1-18640	95-4182437
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

6835 Valjean Avenue

Van Nuys, California 91406

(Address of Principal Executive Offices, including Zip Code)

(818) 908-9868

(Registrant’s telephone number, including area code)

Item 5.

Cherokee Inc. announced today that the arbitration panel in the Cherokee-Mossimo arbitration issued its final award on January 17, 2003, in Cherokee’s favor. The arbitration panel ruled in its final award that Cherokee shall recover from Mossimo, Inc. the finder’s fee that it is entitled to receive pursuant to its finder’s agreement with Mossimo as well as its attorneys’ fees, costs and interest. They also reaffirmed the validity of the original Finder’s Agreement between Cherokee, Inc. and Mossimo Inc. Cherokee will file a petition in the Los Angeles County Superior Court to confirm the arbitration award and enter judgment in its favor. Cherokee does not know whether Mossimo plans to further contest this award.

ITEM 7.    Exhibits.

Exhibit No.	Description
99.1	Press Release dated January 23, 2003

ITEM 9.    Registration FD Disclosure.

On January 23, 2003, Cherokee Inc. issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Pursuant to the requirements of the Securities Exchange act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CHEROKEE INC.
Date: January 23, 2003	By:	/s/    KYLE B. WESCOAT
		Name:   Kyle B. Wescoat
		Title:   Chief Financial Officer

EX-99.1

EXHIBIT 99.1

Cherokee Inc.	Integrated Corporate Relations, Inc.
6835 Valjean Ave.	3780 Kilroy Airport Way, Suite 200
Van Nuys, CA 91406	Long Beach, CA 90806
(818) 908-9868	(562) 256-7050
Contact: Kyle Wescoat, Chief Financial Officer	Contact: Brian Yarbrough, Director

For Immediate Release:

Final Arbitration Award Issued in Cherokee’s Favor

VAN NUYS, CA. (January 23, 2003)- CHEROKEE INC. (NASDAQ:CHKE) announced today that the arbitration panel in the Cherokee-Mossimo arbitration that issued an interim award on November 11, 2002, issued a final award in Cherokee’s favor on January 17, 2003. The final arbitration award held that Cherokee shall recover from Mossimo, Inc. (NASDAQ:MOSS) all finder’s fees withheld under the finder’s agreement, interest at the legal rate on all monies previously withheld, and Cherokee’s full attorney’s costs. The panel further reaffirmed the validity of the original finder’s agreement between Cherokee, Inc. and Mossimo, Inc. Cherokee will file a petition in the Los Angeles County Superior Court to confirm the arbitration award and enter judgment in its favor. Cherokee does not know whether Mossimo plans to further contest this award.

Statements included within this news release that are not historical in nature constitute forward-looking statements for the purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. When used, the words “anticipates”, “believes”, “expects”, “may”, “should” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements involve known and unknown risk and uncertainties that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties, include, but are not limited to, the effect of national and regional economic conditions, the financial condition of the apparel industry and the retail industry, the overall level of consumer spending, the effect of intense competition in the industry in which the Company operates, adverse changes in licensee or consumer acceptance of products bearing the Company’s brands as a result of fashion trends or otherwise, the ability and/or commitment of the Company’s licensees to design, manufacture and market Cherokee and Sideout branded products, the Company’s dependence on a single licensee for most of the Company’s revenues, the Company’s dependence on its key management personnel, and adverse determinations of claims, liabilities or litigations and the effect of a breach or termination by the Company of the management agreement with the Company’s CEO. A further list and description of these risk, uncertainties and other matters can be found in the Company’s Annual Report on Form 10-K for Fiscal year 2002, and in its periodic reports on Forms 10-Q and 8-K (if any). Undue reliance should not be placed on the forward-looking statements contained herein because some or all of them may turn out to be wrong. The Company disclaims any intent or obligation to update any of the forward-looking statements contained herein to reflect future events and developments.

####

.