-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 KZ7vmpCrdXIAd6syD1wvEw==

<SEC-DOCUMENT>0001181431-11-013613.txt : 20110228
<SEC-HEADER>0001181431-11-013613.hdr.sgml : 20110228
<ACCEPTANCE-DATETIME>20110228175448
ACCESSION NUMBER:		0001181431-11-013613
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110128
FILED AS OF DATE:		20110228
DATE AS OF CHANGE:		20110228

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHEROKEE INC
		CENTRAL INDEX KEY:			0000844161
		STANDARD INDUSTRIAL CLASSIFICATION:	WOMEN'S, MISSES', AND JUNIORS OUTERWEAR [2330]
		IRS NUMBER:				954182437
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0203

	BUSINESS ADDRESS:	
		STREET 1:		6835 VALJEAN AVE
		CITY:			VAN NUYS
		STATE:			CA
		ZIP:			91406-4713
		BUSINESS PHONE:		8189511002

	MAIL ADDRESS:	
		STREET 1:		6835 VALJEAN AVE
		CITY:			VAN NUYS
		STATE:			CA
		ZIP:			91406-4713

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREEN ACQUISITION CO
		DATE OF NAME CHANGE:	19900814

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARGOLIS ROBERT
		CENTRAL INDEX KEY:			0000942056

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18640
		FILM NUMBER:		11648018

	MAIL ADDRESS:	
		STREET 1:		C/O THE WILSTAR GROUP
		STREET 2:		6835 VALJEAN AVE
		CITY:			VAN NUYS
		STATE:			CA
		ZIP:			91406
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>rrd303026.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2011-01-28</periodOfReport>

    <dateOfOriginalSubmission>2011-02-01</dateOfOriginalSubmission>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000844161</issuerCik>
        <issuerName>CHEROKEE INC</issuerName>
        <issuerTradingSymbol>CHKE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000942056</rptOwnerCik>
            <rptOwnerName>MARGOLIS ROBERT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6835 VALJEAN AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>VAN NUYS</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91406</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Chairman (1)</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>583087</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>135000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Newstar Group, dba The Wilstar Group</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>160000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By BMAC Enterprises, LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2011-01-28</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2011-01-28</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>160000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>18.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By BMAC Enterprises, LP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2011-01-28</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2011-01-28</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>135000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>18.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Newstar Group, dba The Wilstar Group</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2011-01-28</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2011-01-28</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>90000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>18.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>493087</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Common Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>18.49</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2011-01-28</value>
            </exerciseDate>
            <expirationDate>
                <value>2015-06-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Common Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>18.49</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2011-01-28</value>
            </exerciseDate>
            <expirationDate>
                <value>2015-06-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>100000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <remarks>The purpose of this amendment is to correct certain inadvertent errors contained in the original Form 4 filed with the Securities and Exchange Commission (&quot;SEC&quot;) on February 1, 2011.  (1) As previously reported on Cherokee Inc.'s (&quot;Cherokee&quot;) Current Report on Form 8-K, which was filed with the SEC on January 31, 2011, Robert Margolis resigned his positions as Executive Chairman and as a director of Cherokee on January 28, 2011. In connection with Mr. Margolis' resignation, Mr. Margolis and Cherokee entered into a Separation Agreement (&quot;Separation Agreement&quot;). Pursuant to the Separation Agreement, Cherokee or its designees agreed to purchase from Mr. Margolis or his assigns a total of 460,000 shares of Cherokee's Common Stock at a per share price of $18.15. Accordingly, on February 7, 2011, (i) The Robert Margolis Living Trust dtd 4/6/94, of which Mr. Margolis is the trustee, sold to Cherokee 90,000 shares of its Common Stock, (ii) BMAC Enterprises, LP, of which Rob
ert Margolis is the general partner, sold to Cherokee 160,000 shares of its Common Stock, (iii) The Newstar Group Inc., dba The Wilstar Group sold to Cherokee 135,000 shares of its Common Stock and (iv) The Robert Margolis Foundation (&quot;Foundation&quot;), of which Mr. Margolis does not have a pecuniary interest and expressly disclaims beneficial ownership, sold to Cherokee 15,000 shares of its Common Stock. In addition, and pursuant to the Separation Agreement (i) on February 7, 2011, the Foundation sold 50,000 shares of Cherokee's Common Stock to Cherokee's chairman, Jess Ravich and (ii) on February 17, 2011, the Foundation sold 10,000 shares of Cherokee's Common Stock to Cherokee's CEO, Henry Stupp.  In addition, pursuant to the Separation Agreement, Mr. Margolis' outstanding option to purchase up to 100,000 shares of Cherokee's Common Stock became fully vested and exercisable. Following such transactions, Mr. Margolis beneficially owns a total of 493,087 shares of Cherokee's Common Stock.</remarks>

    <ownerSignature>
        <signatureName>Mark DiSiena under POA for Robert Margolis</signatureName>
        <signatureDate>2011-02-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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