SHERMAN OAKS, Calif. — June 7, 2018 — Cherokee Global Brands, a global brand marketing platform that manages a growing portfolio of fashion and lifestyle brands, today announced the sale of Flip Flop Shops®, its franchise retail chain, to Bearpaw Holdings LLC for an undisclosed amount.
“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, CEO. “We’re confident that Bearpaw Holdings is positioned to realize the full potential of Flip Flop Shops.”
Cherokee Global Brands intends to use the sale proceeds to reduce its long-term debt.
Posted June 7, 2018
Source: Cherokee Global Brands