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 *
RAVICH JESS M
  2. Issuer Name and Ticker or Trading Symbol
CHEROKEE INC [CHKE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
149 S. BARRINGTON, #828
3. Date of Earliest Transaction (Month/Day/Year)
06/18/2012
(Street)

LOS ANGELES, CA 90049
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               23,969 D  
Common Stock               50,000 I The Ravich Revocable Trust of 1989
Common Stock               60,000 I The Ravich Revocable Trust of 1989
Restricted Common Stock Award 06/18/2012   A   1,500 A $ 0 61,500 D  

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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 $ 16.08             02/01/2011 02/01/2015 Common Stock 2,666   2,666 D  
Common Stock Options $ 16.08             02/01/2012 02/01/2015 Common Stock 2,667   5,333 D  
Common Stock Options $ 16.08             02/01/2013 02/01/2015 Common Stock 2,667   8,000 D  
Common Stock Options $ 18.15             01/28/2011 01/28/2016 Common Stock 100,000   108,000 D  
Common Stock Options $ 13.06 06/18/2012 06/18/2012 A   5,500   06/18/2012 06/18/2019 Common Stock 5,500 $ 13.06 113,500 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
RAVICH JESS M
149 S. BARRINGTON, #828
LOS ANGELES, CA 90049
  X      

Signatures

 Mark DiSiena under POA for Jess M. Ravich   06/20/2012
**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 June 18, 2012, the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Cherokee Inc. ("Cherokee") granted Mr. Ravich a restricted stock award for 1,500 shares as noted above. There is no purchase price required by the recipient in connection with this award.  Such restricted stock award will vest in a single installment of 1,500 shares on the three year anniversary of the grant date. Such vesting will accelerate upon the earlier of (i) a change in control of Cherokee, (ii) the death of the recipient or (iii) the recipient's failure to be re-elected to the Board of Directors in any election in which the recipient stands for re-election.

In addition, on June 18, 2012, the Committee granted Mr. Ravich 5,500 stock options as noted above. Such options are fully vested as of the grant date.

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