Is it legal for me to sell this for profit if the shoe charm was bought from a licensed retailer of the shoe charm?

Generally speaking, if someone purchases a product with a logo on it and that purchase is authorized by the owner of the logo, the person can then resell that same product without having to get permission from the logo owner. This is the First-Sale doctrine, if you want to research it. However, if that person materially alters the product, they generally, cannot take advantage of the first sale doctrine. As to whether taking a shoe charm and incorporating it into a paracord bracelet is a material alteration, I don't know. That would take some research, even to make a guess. You may want to speak with an attorney in private about that specific question.