Romanian retailer Flanco increases turnover by 25% in 2012, to over EUR 130 mln

Romanian IT&C retailer Flanco posted a turnover of EUR 137 million in 2012, up 25 percent compared to the previous year, mainly due to the investments made in modernization of stores, in team development and in product portfolio management, reads a statement of the company. The retailer’s market share also increased to 13 percent. Flanco’s investments in modernizing and expanding the existing stores, but also in opening new stores, amounted to over EUR 2.5 million last year. The company currently owns 78 stores across the country, with a total area of over 44,000 sqm. According to the retailer, with a total sales area 10 percent bigger than in 2011, the profitability of sales per sqm also went up to EUR 3,200 last year. In Romania, the electrical/electronic/IT market increased by 5 percent in 2012. The growth was mainly supported by the sales of IT products, such as laptops, notebooks and tablets, which went up 15 percent. The electronics, namely televisions, audio systems and photo-video cameras posted a 5 percent increase last year, while large and small appliances maintained to the level of 2011. Romanians’ average investments in electrical/electronic/IT products amounts to only EUR 70 per year, compared to Germany, where the average consumption amounts to some EUR 600 per year, or Greece - EUR 160 per year. Irina Popescu, irina.popescu@romania-insider.com