Romanian IT&C retailer Flanco has recently finished revamping eight of the 20 stores planned for redevelopment this year, following a total investment of EUR 350,000, according to the company.

Flanco has a total budget of EUR 2 million this year for the redevelopment and expansion of its national stores network. The retailer currently has a total of 78 stores across Romania and plans further expansion.

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 in 2012. For 2013, the company estimates a 15 percent advance in business.

Irina Popescu, irina.popescu@romania-insider.com