08 Jun Flip Flop Shops Acquired By Bearpaw Parent
The parent company to the footwear brand Bearpaw purchased the global “Flip Flop Shops” franchise retail chain from Cherokee Global Brands.
Initially franchising in 2008, Flip Flop Shops now consists of 59 retail locations globally with plans to continue expanding before the end of the year.
Bearpaw Holdings LLC will market and grow the Flip Flop Shops brand, as it has done with Bearpaw.
“The Bearpaw sheepskin boot is the flip flop of winter,” stated Tom Romeo, CEO and founder of Bearpaw. “The alliance between Flip Flop Shops and Bearpaw will create the perfect balance of seasonal products and styles for consumers to enjoy year-round. Bearpaw Holdings is excited to enter the business of the Flip Flops of the summer.”
Bearpaw was founded in 1986 by Tom Romeo and is based in Citrus Heights, CA.
Symphony Investment Partners, a boutique investment firm based in Washington D.C. and in Montecito, CA, advised Cherokee in the transaction.