Licensed apparel company Cherokee Global Brand has acquired franchise retail chain Flip Flop Shops. The move comes weeks after Cherokee announced the end of its partnership with Target, set to expire in 2017.
With over 90 franchise shops in the US, Canada, Caribbean, Middle East and South Africa, Cherokee says it will continue to add new franchises as it expands Flip Flop Shop’s offerings by introducing brands from its own portfolio, including Cherokee, Tony Hawk and Everyday California.
“We are very excited about adding Flip Flop Shops to our global brand portfolio. It’s not often you come across such a rare combination of a seasoned leadership team, perfect portfolio alignment and seamless integration with our unique business model,” said Cherokee CEO Henry Stupp.
He added, “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.”