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)
C/O CHEROKEE INC., 5990 SEPULVEDA BLVD #600
3. Date of Earliest Transaction (Month/Day/Year)
06/08/2015
(Street)

SHERMAN OAKS, CA 91411
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 06/08/2015   A   40,000 A $ 0 138,913 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 (right to buy) $ 13.06             06/18/2012 06/18/2019 Common Stock 5,500   5,500 D  
Common Stock Options (right to buy) $ 12.65             06/27/2013 06/27/2020 Common Stock 5,500   5,500 D  
Restricted Stock Units (1)             06/27/2016 06/27/2016 Common Stock 1,500   1,500 D  
Common Stock Options (right to buy) (2) $ 22.94 06/08/2015   A   16,666   06/08/2016 06/08/2022 Common Stock 16,666 $ 0 16,666 D  
Common Stock Options (right to buy) (2) $ 22.94 06/08/2015   A   16,667   06/08/2017 06/08/2022 Common Stock 16,667 $ 0 33,333 D  
Common Stock Options (right to buy) (2) $ 22.94 06/08/2015   A   16,667   06/08/2018 06/08/2022 Common Stock 16,667 $ 0 50,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
RAVICH JESS M
C/O CHEROKEE INC.
5990 SEPULVEDA BLVD #600
SHERMAN OAKS, CA 91411
  X      

Signatures

 Jason Boling under POA for Jess M. Ravich   06/10/2015
**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).
(1) Each restricted stock unit represents a contingent right to receive one share of common stock of Cherokee Inc.
(2) Represents an award of a single stock option approved on June 8, 2015.
 
Remarks:
On June 8, 2015, the Compensation Committee of the Board of Directors of Cherokee Inc. granted Mr. Ravich 50,000 stock options and 40,000 restricted stock units as noted above. Such options and restricted stock units vest in three annual installments on each yearly anniversary of the grant date, which vesting may accelerate in certain circumstances.

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