Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Sass Lawrence Marc
   2. Issuer Name and Ticker or Trading Symbol
CHEROKEE INC [CHKE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Regional President - Asia
(Last)
(First)
(Middle)
6835 VALJEAN AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
03/23/2011
(Street)

VAN NUYS, CA 91406		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common stock               0 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common stock options $ 23.12             04/07/2006 04/07/2011 Common stock 1,667   1,667 D  
Common stock options $ 23.12             04/07/2007 04/07/2011 Common stock 1,667   3,334 D  
Common stock options $ 34.62             06/30/2006 06/30/2012 Common stock 3,333   6,667 D  
Common stock options $ 34.62             06/30/2007 06/30/2012 Common Stock 3,333   10,000 D  
Common stock options $ 34.62             06/30/2008 06/30/2012 Common Stock 3,334   13,334 D  
Common stock options $ 22.7             08/21/2009 08/21/2015 Common Stock 6,666   20,000 D  
Common stock options $ 22.7             08/21/2010 08/21/2015 Common Stock 6,667   26,667 D  
Common stock options $ 22.7             08/21/2011 08/21/2015 Common Stock 6,667   33,334 D  
Common stock options $ 16.08             02/01/2011 02/01/2015 Common Stock 10,000   43,334 D  
Common stock options $ 16.08             02/01/2012 02/01/2015 Common Stock 10,000   53,334 D  
Common stock options $ 16.08             02/01/2013 02/01/2015 Common Stock 10,000   63,334 D  
Comon Stock Options $ 17.21 03/23/2011 03/23/2011 A   12,333   03/23/2012 03/23/2018 Common Stock 12,333 $ 17.21 75,667 D  
Comon Stock Options $ 17.21 03/23/2011 03/23/2011 A   12,333   03/23/2013 03/23/2018 Common Stock 12,333 $ 17.21 88,000 D  
Comon Stock Options $ 17.21 03/23/2011 03/23/2011 A   12,334   03/23/2014 03/23/2018 Common Stock 12,334 $ 17.21 100,334 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Sass Lawrence Marc
6835 VALJEAN AVENUE
VAN NUYS, CA 91406		       Regional President - Asia  

Signatures

 Mark DiSiena under POA for Lawrence M. Sass   03/24/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
On March 23, 2011 the Compensation Committee of Cherokee Inc. granted Mr. Sass 37,000 stock options as noted above.

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