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 * 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) President (Last) (First) (Middle) 6835 VALJEAN AVE 3. Date of Earliest Transaction (Month/Day/Year) 01/04/2005 (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 01/04/2005 01/04/2005 S   3,000 D $ 35.35 66,994 D   Common Stock 01/05/2005 01/05/2005 S   13,002 D $ 34.459 53,992 D   Common Stock 01/06/2005 01/06/2005 S   11,185 D $ 33.494 42,807 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 option

$ 8.97

11/10/1998

11/10/2007

common stock

17,823

17,823

D

Common stock option

$ 9.86

11/10/1999

11/10/2007

common stock

18,829

36,652

D

Common stock option

$ 10.85

11/10/2000

11/10/2007

common stock

19,754

56,406

D

Common stock option

$ 23.12

04/07/2005

04/06/2011

common stock

3,333

59,739

D

Common stock option

$ 23.12

04/07/2006

04/06/2011

common stock

3,333

63,072

D

Common stock option

$ 23.12

04/07/2007

04/06/2011

common stock

3,334

66,406

D

Reporting Owners

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

Signatures

Russell J. Riopelle under POA for Howard Siegel		01/06/2005
**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 the days noted above (January 4th, 5th and 6th, 2005) Mr. Siegel sold a total of 27,187 shares of common stock of Cherokee at the average prices noted above. Also, it was determined that the total number of shares owned by Mr. Siegel and previously disclosed on prior Form 4 filings was under-stated by 9,950 shares.  These 9,950 shares were purchased by Mr. Siegel on the open market several years ago (in the late 1990's) and were inadvertently omitted from his previous filings.

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