Flanco Retail, one of the biggest electro-IT retailers in Romania, increased its sales by 7% in 2017 versus the previous year, to a record level of EUR 215 million.
This year, the company aims to maintain a 5-7% growth rate and reach sales of over EUR 225 million.
“2017 was the peak year for retail in Romania, with a strong consumption growth on numerous segments,” said Dragos Sirbu, Flanco Retail CEO.
Last year, Flanco invested some EUR 1.75 million in rearranging its store network. The company opened new stores and expanded its presence in 13 new cities but also relocated some stores and closed the units with poor performances, especially in big shopping centers, according to Sirbu.
The company focused its investments in expanding to medium-sized cities and developing its online sales platform. Meanwhile, it closed 16 stores located in big malls from January 2017 until the end of February 2018.
The company currently has 121 stores in 88 cities and over 1,500 employees. The plans for this year include opening 15 new stores.