Exhibit 21

  

Subsidiaries of Rocky Brands, Inc. as of March 15, 2024

  

Five Star Enterprises Ltd.,
a Cayman Islands corporation

  

Lifestyle Footwear, Inc.,
a Delaware corporation

  

Rocky Brands Canada, Inc.,
a Nova Scotia corporation

  

Rocky Brands US, LLC,
a Delaware limited liability company

  

Rocky Brands International, LLC 

an Ohio limited liability company 

  

Lehigh Outfitters, LLC,
a Delaware limited liability company

 

US Footwear Holdings, LLC

a Delaware limited liability company

 

Rocky Outdoor Gear Store, LLC 

an Ohio limited liability company 

 

Rocky Brands (Australia) Pty Ltd.

an Australian limited liability company

 

Mexico FW Holdings, S. de R.L. de C.V.

a Mexico private limited liability company

 

Rocky Footwear (Chuzhou) Co. Ltd.

a China private limited liability company

 

UK Footwear Holdings Limited

a UK private limited company