Cherokee buys footwear retailer Flip Flop Shops
Cherokee Global Brands has acquired the franchise retail chain Flip Flop Shops.
Flip Flop Shops, which currently has more than 90 retail shops in the US, Caribbean, the Middle East and South Africa, and a further 100 retail shops in development worldwide.
Cherokee Global Brands wants to continue adding new franchisees to the Flip Flop Shops portfolio. Part of the plan for Flip Flop Shops will be to identify key partners through its relationships in Europe, Asia and Latin America to expand the retail concept.
Henry Stupp, chief executive officer, Cherokee Global Brands said: "Our goal has always been to become the global leader in marketing, selling and distributing a balanced portfolio of brands. Through our acquisition of Flip Flop Shops, we will join the ranks of innovative specialty retailers that successfully operate similar concepts focused on products such as sunglasses and baseball hats. Our mantra, 'think like a retailer' has guided our business since inception. With the acquisition of Flip Flop Shops, we now have the opportunity to 'act like a retailer' and expand our direct relationships with consumers in the process."