Cherokee Sells Flip Flop Shops to Bearpaw Holdings

Cherokee Global Brands today announced the sale of Flip Flop Shops, its franchise retail chain, to Bearpaw Holdings, LLC for an undisclosed amount. Cherokee Global Brands intends to use the sale proceeds to reduce its long-term debt. Flip Flop Shops carry sandal brands including Cobian, Havaianas, Olukai, Reef and Sanuk.

“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, chief executive officer. “We’re confident that Bearpaw Holdings is positioned to realize the full potential of Flip Flop Shops.”