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Cherokee sells Flip Flop Shops to Bearpaw Holdings
15
Jun '18
Courtesy: Cherokee Global Brands
Courtesy: Cherokee Global Brands
Cherokee Global Brands, a global brand marketing platform which manages a growing portfolio of fashion and lifestyle brands, has announced the sale of Flip Flop Shops, its franchise retail chain to Bearpaw Holdings for an undisclosed amount. It is learnt that Cherokee Global Brands intends to use the sale proceeds to reduce its long-term debt.

"We are pleased with the transaction, which aligns with our strategy to focus on scaling our high-growth brands through global licensed partnerships," said Henry Stupp, chief executive officer, Cherokee Global Brands. "We are confident that Bearpaw Holdings is positioned to realise the full potential of Flip Flop Shops."

Bearpaw Holdings offers a range of leather and fur boots, slippers, suede and oily pressed uppers, and knit shafts and uppers. It serves customers through retailers in the United States and internationally, as well as online. (RR)

Fibre2Fashion News Desk – India


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