Flip Flop Shops Packs 2012 Pipeline with 40 New Shops
Global Retail Chain Exclusive to Flip Flops and Sandals Experiences Record-Breaking Expansion as Consumers Free Their Toes®
January 31, 2012 // Franchising.com // ATLANTA – With more than 50 shops currently operating throughout the United States, Canada, Guam and the Caribbean, Flip Flop Shops announces it will expand its footprint to 90-plus shops by the end of 2012, with an additional 40-plus already in the pipeline for 2013 openings.
New shop openings in 2012 include high-profile locations at the Yacht Haven Grande in St. Thomas, U.S. Virgin Islands; Ala Moana Center in Honolulu, Hawaii; Miami International Mall in Miami, Fla.; Destin Commons in Destin, Fla.; and Higuera Street in San Luis Obispo, Calif. Through Flip Flop Shops' controlled, global-expansion strategy, the brand projects 236 locations in its development pipeline by 2013.
“We’re the first and only company to build a concept that capitalizes on the massive market potential of flip flops and sandals by taking the booming, specialty-retail sector mainstream through well-managed, strategic expansion,” said Brian Curin, the President (Size 10) of Flip Flop Shops. “We have a unique, spot-on concept and the right people behind its development. By focusing on growing with the right franchisees, providing the ultimate consumer experience, and offering the hottest brands, we developed a breakthrough brand that is attracting a cult-like following. We kicked our growth up a notch in 2011, but we’re taking Flip Flop Shops to the next level in 2012.”
While the past few years have been challenging for most retailers, the global retail chain exclusive to the hottest brands and latest styles of flip flops and sandals has defied the odds and grown its franchise system at a record pace.
Since launching its franchise opportunity in 2008, Flip Flop Shops has received more than 10,000 franchise applications, continuously moved up the ranks of Entrepreneur’s prestigious Franchise 500 ranking, and generated nearly $4 million in franchise fees and over $16 million in system-wide sales with significant same-shop sales growth. In 2011, the lifestyle franchise nearly doubled its number of locations.
Recent company accomplishments include:
- Recognized in the 2011 Inc. 500|5000 listing as the sixth fastest-growing franchise and 12th fastest-growing retailer in the nation, the brand continued its Free Your Toes® promise and grew with more than 40 signed franchise agreements, including expansion into the U.S. Virgin Islands and Puerto Rico.
- The ICSC Hot Retailer Award recipient, Flip Flop Shops, has opened locations in iconic sites, such as: Mandalay Bay in Las Vegas; Moana-Waikiki in Honolulu; Hawaii; Micronesia Mall in Dededo, Guam; Aventura Mall in Miami, Fla.; West Edmonton Mall in Edmonton, Alberta; and Universal Studios Theme Park and CityWalk in Los Angeles and Irvine Spectrum Center in Irvine, Calif.
“Flip Flop Shops was created to fill a distinct void in the retail industry while promoting the flip flop lifestyle and culture,” said Darin Kraetsch, the CEO (Size 10) of Flip Flop Shops. “Take a look at our growth—it’s proof that there are droves of people who are just as passionate about freeing their toes as we are. From our executive team and corporate support to shop owners and their staff, all have played an integral role in expanding this niche concept worldwide despite an unfavorable economy. We’re thankful for the support and look forward to an even more epic 2012.”
Once reserved only for poolside or beachwear, flip flops have grown to become the “global youth uniform,” as well as accepted footwear for anyone ranging from surfers to high-level corporate executives. In fact, a recent report from the Surf Industry Manufacturers Association (SIMA) revealed that while overall U.S. surf-wear retail sales have fallen in the past few years, footwear continues to be a driving growth vehicle for the industry, accounting for $1.5 billion in sales and increasing its market share by 8.2 percent since 2008.
Flip Flop Shops’ mission is to provide the opportunity for anyone, in any climate, to Live…Work…Play With Their Toes Exposed® with the freedom of flip flops on their feet. The shops carry the hottest brands of flip flops and sandals—such as Quiksilver, Roxy, REEF, Sanuk, OluKai, and Cobian, among others.
For more information on Flip Flop Shops or its franchise opportunity, visit http://www.flipflopshops.com.
About Flip Flop Shops
Founded in 2004, Flip Flop Shops is North America’s first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals from big names such as Quiksilver, Roxy, REEF, Sanuk, OluKai, and Cobian. The recipient of the International Council of Shopping Centers’ prestigious “Hot Retailer Award,” Flip Flop Shops began franchising in January 2008. Flip Flop Shops is an Environmentally Responsible Retailer™ and encourages the nation to Free Their Toes®. The executive team boasts more than 50 years of franchise experience building and growing some of the world’s fastest-growing franchise concepts, category leaders and some of the world’s most well-known brands, including Cold Stone Creamery, Moe’s Southwest Grill and Nike. Recognized in the 2011 Inc. 500|5000 listing as the sixth fastest-growing franchise and 12th fastest-growing retailer in the nation, the brand currently boasts more than 50 shops in operation and more than 80 in the development pipeline. Through its well-managed, global-expansion strategy, the brand projects 236 locations in its development pipeline by 2013. For more information on the franchise opportunity, visit http://franchise.flipflopshops.com/.
Fishman Public Relations
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