Flanco expands Sibiu store on new retailer concept with EUR 0.75 mln

Romanian IT&C retailer Flanco invested EUR 750,000 in expanding its store in the central city of Sibiu, bringing its chain of stores where customers can test products before buying to eight. The store, in the Shopping City Sibiu, covers 1,200 sqm, double the previous size. The retailer has another store in Sibiu, in the Carrefour galleria in the city.

Flanco estimates EUR 3.5 million investments in new store openings and revamping this year, it hopes to achieve a EUR 140 million turnover, compared to EUR 110 million last year. Flanco owns 77 stores in Romania. Earlier in February, Flanco announced a planned new retail concept, and is hiring 100 new employees as a result. Flanco is majority owned by Asesoft Web, owned by Iulian Stanciu and Sebastian Ghita. Asesoft bought the retailer in 2010, when it was on the brink of bankruptcy. The retailer became insolvent after accumulating debts to several banks. editor@romania-insider.com