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FORM 3 U.S. SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
WASHINGTON, D.C.
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES OMB NUMBER 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ...0.5
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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(f) of the Investment Company Act of 1940
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1.Name and Address of Reporting Person 2.Date of Event 4.Issuer Name and Ticker or Trading Symbol
Requiring Statement
The Newstar Group, Inc. (Month/Day/Year) Cherokee Inc. (CHKE)
03-26-96
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(Last) (First) (Middle) 3. IRS or Social 5.Relationship of Reporting Person to Issuer 6.If Amendment,
Security Number of (Check all applicable) Date of Original
Reporting Person --- Director x 10% Owner (Month/Day/Year)
(Voluntary) --- Officer (give ---
title below) --- Other(specify
below)
6835 Valjean Avenue
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(Street)
Van Nuys California 91406
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(City) (State) (Zip)
TABLE I NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1.Title of Security 2.Amount of Securities 3.Ownership Form: 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Direct (D) or (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
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Common Stock 1,674,739 D
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
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FORM 3 (continued) TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE
SECURITIES)
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1.Title of Derivative 2.Date Exercisable 3.Title and Amount of Securities 4.Conversion 5.Ownership 6.Nature of
Security (Instr. 4) and Expiration Date Underlying Derivative Security or Exercise Form of Indirect
(Month/Day/Year) (Instr. 4) Price of Derivative Beneficial
Derivative Security: Ownership
Security Direct (D) (Instr. 5)
or Indirect (I)
(Instr. 5)
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Date Expiration Title Amount or
Exercisable Date Number of
Shares
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Nonqualified Stock Option 5/4/96 5/4/2000 Common Stock 450,447 $3.00 D
(option to buy)
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Explanation of Responses:
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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**Signature of Reporting Person Date
The Newstar Group, Inc.
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, See Instruction 6 for procedure.
By ______________________ Page 2
SEC 1473 (8/92)
