Cherokee Global Brands sells Flip Flop Shops to Bearpaw Holdings

Cherokee Global Brands has announced the sale of Flip Flop Shops, its franchise retail chain, to Bearpaw Holdings, LLC for an undisclosed amount. The company added that it intends to use the sale proceeds to reduce its long-term debt.

“We’re pleased with the transaction, which aligns with our strategy to focus on scaling our high-growth brands through global licensed partnerships,” commented Henry Stupp, the company’s Chief Executive Officer in a press release, adding, “We’re confident that Bearpaw Holdings is positioned to realize the full potential of Flip Flop Shops.”

Cherokee, a global brand marketing platform manages a portfolio of fashion and lifestyle brands including Cherokee, Hi-Tec, Magnum, 50 Peaks, Interceptor, Tony Hawk Signature Apparel and Hawk Brands, Liz Lange, Everyday California, Sideout and Carole Little. The company currently maintains license and franchise agreements with retailers and manufacturers across 80 countries and around 20,000 retail doors plus ecommerce platforms.

Based in Citrus Heights, California, parent company to Bearpaw Footwear, Bearpaw Holdings founded by Tom Tomeo in 1986, manufactures and sells footwear for men, women, and children, offering a range of leather and fur boots, slippers, suede and oily pressed uppers, and knit shafts and uppers.

Picture:Cherokee Global Brands website