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
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
SIEGEL HOWARD B
   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)
Chief Operating Officer
(Last)
(First)
(Middle)
6835 VALJEAN AVE		 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               38,718 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

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 Option $ 22.7             08/21/2009 08/21/2015 common stock 3,333   3,333 D  
Common Stock Option $ 22.7             08/21/2010 08/21/2015 common stock 3,333   6,666 D  
Common Stock Option $ 22.7             08/21/2011 08/21/2015 common stock 3,334   10,000 D  
Common Stock Option $ 16.08             02/01/2011 02/01/2015 common stock 16,666   26,666 D  
Common Stock Option $ 16.08             02/01/2012 02/01/2015 common stock 16,667   43,333 D  
Common Stock Option $ 16.08             02/01/2013 02/01/2015 common stock 16,667   60,000 D  
Common Stock Option $ 18.3             08/26/2011 08/26/2017 common stock 16,666   76,666 D  
Common Stock Option $ 18.3             08/26/2012 08/26/2017 common stock 16,667   93,333 D  
Common Stock Option $ 18.3             08/26/2013 08/26/2017 common stock 16,667   110,000 D  
Common Stock Option $ 17.21 03/23/2011 03/23/2011 A   20,000   03/23/2012 03/23/2018 Common Stock 20,000 $ 17.21 130,000 D  
Common Stock Option $ 17.21 03/23/2011 03/23/2011 A   20,000   03/23/2013 03/23/2018 Common Stock 20,000 $ 17.21 150,000 D  
Common Stock Option $ 17.21 03/23/2011 03/23/2011 A   20,000   03/23/2014 03/23/2018 Common Stock 20,000 $ 17.21 170,000 D  
Common Stock Option $ 17.21 03/23/2011 03/23/2011 A   20,000   03/23/2015 03/23/2018 Common Stock 20,000 $ 17.21 190,000 D  
Common Stock Option $ 17.21 03/23/2011 03/23/2011 A   20,000   03/23/2016 03/23/2018 Common Stock 20,000 $ 17.21 210,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SIEGEL HOWARD B
6835 VALJEAN AVE
VAN NUYS, CA 91406		       Chief Operating Officer  

Signatures

 Mark DiSiena under POA for Howard Siegel   03/23/2011
**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. Siegel 100,000 stock options as noted above.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.