Romanian IT&C retailer Flanco makes EUR 26 mln on Black Friday, not satisfied

Electro-IT retailer Flanco recorded EUR 26.1 million revenues during the Black Friday shopping event, in the November 20-22 weekend. The sales were EUR 3.1 million lower than the initial estimations, according to the company. However, compared to last year, revenues increased by 18%. Flanco sold about 230,000 items, and the visitors’ number exceeded 3 million in its 95 stores as well as on its website. Online sales accounted for about 20% of the total. TVs ranked first in the customers’ preferences, followed by phones, washing machines, photo and gaming products. Flanco is controlled by Romanian entrepreneur Iulian Stanciu, who is also CEO and a minority shareholder in eMAG, the biggest online retailer in Romania. eMAG’s sales on Black Friday were some EUR 45 million this year, also slightly under estimates. editor@romania-insider.com