Cherokee to Acquire Flip Flop Shops

Cherokee Global Brands (Van Nuys, Calif.) has announced that it will acquire the Flip Flop Shops (Irvine, Calif.) retail chain. The announcement follows Cherokee’s statement that it would end its partnership with Target Corp. (Minneapolis).

Retailing Today reports the company has stated its interest in diversifying its brand portfolio and will acquire Flip Flop Shops as part of that effort.

Flip Flop Shops currently operates more than 90 franchise shops across the world, with more than 100 stores openings planned. Cherokee announced that it intends to expand the company’s footwear and accessories by stocking other lines from the company’s existing brands.