Flamingo considers 40 Romanian cities for expansion

Jiri Rizek, CEO of the electronics and home appliances retailer Flamingo International, says he is examining 40 cities in Romania with a view to opening stores with surface areas of 600-1,000 square metres, developed under the Flamingo brand. “Romania has 40 large cities which can accommodate at least one 600 – 1,000 square-metre store, and, after at least 5 years, the number of profitable branches of an electronics store will reach a similar level to that on the Western European markets,” says Jiri Rizek, CEO of Flamingo International. Flamingo’s CEO says 600 – 1,000 square-metre stores can expand by a maximum 60 to 70 stores, depending on the evolution of the market. “Three years from now, we could potentially cover a 100,000 square-metre sales area, but this is not our target,” said Rizek. In comparison, Flamingo’s main rival on the Romanian market, Altex, has a retail area of almost 100,000 square metres, with its three retail concepts. For next year, Flamingo has announced that, after a return to profit at the end of the first three quarters of the year, it will continue to expand its national network by opening 10 new large-size Flanco World stores in medium-sized cities.