Cherokee Global Brands has acquired Flip Flop Shops, a franchise retail chain offering flip-flops, casual footwear and accessories.

Flip Flop Shops currently has more than 90 retail franchise shops in the U.S.,

Canada, Caribbean, the Middle East and South Africa and over 100 additional retail shops already in development worldwide. Its locations carry an assortment of brands including OluKai, Sanuk, Cobian, Havaianas, Quiksilver, Roxy, Reef and others.

Cherokee Global Brands plans to continue adding new franchises as it expands Flip Flop Shops' assortment with new offerings from brands in its portfolio as well including Cherokee, Tony Hawk and Everyday California.

As part of its growth strategy for Flip Flop Shops, Cherokee Global Brands will also identify key partners through its relationships in Europe, Asia and Latin America to expand the retail concept in those regions as well through a combination of retail stores, shop-in-shops and mobile commerce.

"Our goal has always been to become the global leader in marketing, selling and distributing a balanced portfolio of brands," says Henry Stupp, chief executive officer, Cherokee Global 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. Our mantra, 'think like a retailer' has guided our business since inception. With the acquisition of Flip Flop Shops, we now have the opportunity to 'act like a retailer' and expand our direct relationships with consumers in the process."