Flip Flop Shops Rides Wave to No. 170 on 2012 Inc. 500 I 5000 List
The Global Retail Franchise Exclusive to Flip Flops and Sandals Rose 255 Spots, Breaking into the Top 200 on the Noteworthy List of the Nation’s Fastest-Growing Private Companies
August 23, 2012 // Franchising.com // ATLANTA – Flip Flop Shops, North America’s first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals, today announced that Inc. magazine has ranked the growing retail franchise at No. 170 on the publication’s annual 500 | 5000 list of the fastest-growing private companies in the United States, up an astounding 255 spots from 2011.
With a three-year percentage growth of 2,008 percent, Flip Flop Shops ranked No. 9 on the Inc. list of Top Retail Companies, No. 6 on the list of Top Franchise Companies and No. 4 on the list of Top Atlanta-based Companies.
“In the past two years we’ve risen almost 1,300 spots on this prestigious list,” said Brian Curin, the President (Size 10) of Flip Flop Shops, adding that the company ranked No. 1469 in 2010. “This ranking is a testament to the hard work of our franchisees and everyone involved with Flip Flop Shops on the corporate level. We truly believe in spreading the Flip Flop Shops lifestyle throughout the world and look forward to moving up the Inc. 500 | 5000 list for many years to come.”
The 2012 Inc. 500 | 5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2011.
“To rank among the top 500, Flip Flop Shops had to thrive through three of the toughest years this economy has seen in living memory. Its success is eloquent testimony to its team’s creativity, resilience, and tenacity,” said Eric Schurenberg, the Editor of Inc. magazine. “Flip Flop Shops shares a pedigree with companies like Intuit, Zappos, Under Armor, Microsoft, Jamba Juice and Timberland. Now, more than ever, we depend on these Inc. 500 | 5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is.”
Bursting onto the retail scene in 2004, Flip Flop Shops quickly became North America's first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals from leading brands, such as: SANÜK, OluKai, Quiksilver, ROXY, Reef, Cobian and Cushe, among others. Its mission: 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.
“In the last two years we’ve seen a gnarly amount of growth, which is our global expansion strategy working successfully,” said Darin Kraetsch, the CEO (Size 10) of Flip Flop Shops. “In addition to all of the shops we’ve opened this year, we have more than 100 in the development pipeline. All of this is a result of consumers resonating with our ‘Free Your Toes’ mentality and having the ability to walk into a Flip Flop Shops location and find the hottest brands and latest styles of flip flops at any time of the year.”
Since 2008, Flip Flop Shops has received more than 10,000 franchise applications, generated nearly $4 million in franchise fees and over $16 million in system-wide sales with significant same-shops sales growth and has been awarded the International Council of Shopping Centers “Hot Retailer” of the year award. The lifestyle franchise currently has more than 60 shops throughout the United States, Canada, Guam and the Caribbean. With more than 100 shops in the development pipeline, the brand is on-track to achieve its well-managed global expansion strategy, which calls for 236 locations to be open or in development throughout select markets by 2013.
Complete results of the Inc. 500 | 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/5000.
For more information about Flip Flop Shops, visit the company’s Inc. profile at http://www.inc.com/inc5000/profile/flip-flop-shops or company site at http://franchise.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 SANÜK, OluKai, Quiksilver, ROXY, Reef, Cobian and Cushe. Flip Flop Shops began franchising in January 2008 and continues to be recognized by industry leaders as one of the fastest-growing franchises and retailers in the nation. Company accolades include: the International Council of Shopping Centers’ prestigious “Hot Retailer Award” and ranking No. 170 in the 2012 Inc. 500 | 5000 list of fastest-growing private companies in the United States, as well as the sixth fastest-growing franchise and ninth fastest-growing retailer in the nation.
Growing the brand to more than 60 shops in operation and 100-plus in the development pipeline, 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. The lifestyle franchise is an Environmentally Responsible Retailer™ encouraging the nation to Free Their Toes®. For more information on the franchise opportunity, visit http://franchise.flipflopshops.com/.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.
Fishman Public Relations
847-945-1300 ext. 225