TECHNOLOGY

Flip-Flop Shops on the move

BY Marianne Wilson

Flip Flop Shops is expanding in both the physical and online channels.

The company, which was acquired by Cherokee Global Brands last year, is introducing a new “super kiosk” format. Measuring approximately 300 sq. ft. and built in the shape of a giant flip flop, the concept is slated for national rollout. It is designed to offer a nimble and novel format expansion to Flip Flop Shops’ retail presence.

“We are excited about the potential to scale Flip Flop Shops Super Kiosks through a multitude of partnership models including retail shop-in-shops, and to expand Flip Flop Shops into new venues such as theme parks, resorts, cruise ships, airports and college campuses,” said Brian Curin, president, Flip Flop Shops, which currently operates approximately 100 franchised stores in the U.S., Canada, Caribbean, Middle East and South Africa, with over 100 additional locations in development worldwide.

“Cherokee Global Brands’ existing retailer relationships, along with our growing brand portfolio, will present new opportunities to expand Flip Flop Shops’ presence and brand offerings.”

In more channel expansion, Flip Flop Shops will launch its e-commerce site this October.

“As the one-year anniversary of our acquisition of Flip Flop Shops nears, it’s great to see momentum building on so many levels despite the challenging domestic retail environment. We are looking forward to building on the numerous growth opportunities to come,” said Howard Siegel, president and COO, Cherokee Global Brands.

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A.Ryan says:
Sep-14-2016 12:43 pm

Great News
Now this is thinking out of the box, best of luck Flip Flop Shoppes.

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C-SUITE

Tiffany names former railway exec as new finance head

BY Marianne Wilson

Tiffany & Co. has hired Mark Erceg to become its next executive VP and CFO, effective Oct. 18, 206.

Erceg, 47, who will be responsible for the company’s worldwide financial, indirect procurement and information technology functions, replaces Tiffany’s former CFO who left the retailer in May.

Previously, Erceg was with Canadian Pacific Railway Limited, where he has served as executive VP and CFO since May 2015.

From 2010 – 2015, he was the CFO for Masonite International Corporation. He began his career at The Procter & Gamble Company in 1992 where, over 18 years, he served in positions of increasing responsibility in finance, market strategy, customer response, general management and global investor relations.

“Mark brings an operational process orientation and a broad financial, international and consumer brands background to Tiffany,” said Frederic Cumenal, CEO, Tiffany. “As the new leader of our multi-talented finance, procurement and information technology organizations, his varied experience and global perspective will be important as we continue to work toward strengthening Tiffany’s luxury brand position around the world and enhancing our profitability and productivity.”

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FINANCE

Report: Nasty Gal on hunt for a buyer

BY Marianne Wilson

Apparel retailer Nasty Girl, one of the hottest apparel merchants on the Internet just a few years back, is looking for a possible buyer, Women’s Wear Daily reported.

The company was founded in 2006 by the outspoken and colorful Sophia Amoruso as an eBay retailer selling vintage clothes. Over the years, she grew the company into a thriving online business selling edgy fashions for young women. Fueled by a passionate customer base and a strong social media presence, Nasty Gal branched out with its own label and also opened two brick-and-mortar stores.

In 2014, Amoruso turned over the reins as CEO of the company to former Lululemon president Sheree Waterson, with an eye to expanding the company’s retail presence. But similar to many apparel retailers, Nasty Gal has been caught in the retail tradewinds of late and the brand has been challenged by a number of new competitors.

Amoruso has remained in the public eye — and been active on the speaker circuit — as the author of #GirlBoss,” with a second book due out this fall.

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