Romanian electro-IT retailer Flanco reached sales of RON 369 million (EUR 79 million) in the first half of this year, up by 12% compared to the same period of 2017. The company said these were its highest first-half sales ever.

The company has carried out a program aimed at streamlining its activity and making it more efficient. It closed the stores with weak sales performances, especially in some malls where it also paid high rents, and opened others, while also focusing on online sales.

The retailer currently has a network of 124 stores and plans to reach 132 by year-end. In 2016, Flanco had sales of EUR 215 million.

The company is controlled by Romanian investor Iulian Stanciu, the CEO of the biggest local online retailer – eMAG. Flanco’s main competitor is Altex, which is controlled by Romanian entrepreneur Dan Ostahie.

Flanco opens discount electro-IT shop in Bucharest

editor@romania-insider.com