Flip Flop Shops is making its way to India. The company announced a master franchise agreement with Open Spirit Enterprises, owned jointly by the Solar Group and Elite Group, to establish and develop more than 30 retail locations and an e-commerce presence throughout India.
The first Flip Flop Shops location is expected to open in early 2018, with additional shops opening throughout the region over the next 10 years. The expansion plans also call for future growth in Sri Lanka, Maldives, Bangladesh and Bhutan.
“Footwear retail in India is growing at more than twice the rate of the global footwear industry and this is an exciting opportunity for us to develop the market with a key player in the footwear, fashion, and retail segments”, said Brian Curin, Flip Flop Shops president and founder.
Curin continued, “We have established ourselves as the unequivocal destination for the category in North America, the Caribbean, and South Africa, and we look forward to doing the same throughout India, as the Indian lifestyle and Open Spirit Enterprises embody what Flip Flop Shops is all about—living, working and playing living and working with your toes exposed.”
The Solar Group and Elite Group maintain the largest franchise retail operation in Western India, giving them access to the most sought-after retail real estate and locations. Currently the groups retail and distribute brands such as Calvin Klein, Clarks and Rider Sandals throughout India.
“Given India’s young demographic, growing preferences towards a more casual lifestyle and increase in leisure travel, we believe it is an opportune time to be the first mover in the category,” said Yashesh Mukhi, founding partner of Open Spirit Enterprises.
Development plans will be accelerated with Flip Flop Shops’ flexible retail format including, traditional inline shops, shop-in-shop model and the newly developed “Floating Retail” model, allowing Flip Flop Shops to locate and operate in virtually any given opportunity.