Flanco overshoots 100m-euro mark

Electronics and home appliances retailer Flanco anticipates turnover of more than 100 million euros this year, while the store chain will reach 100 locations, the company”s general manager Cornel Marian says. “The sales in September and October are affected by the new policy of NBR to limit consumer lending. Still, I don”t believe administrative restrictions will affect the level of consumer loans or the sales on medium and long term,” Marian says. Flanco invested 4.2 million euros in a large surface area store, Flanco World, on the commercial platform in the outskirts of the city of Brasov, with this value including the price paid to Mobexpert for the building. “Despite there being a tight competition in this location, this is the best place to test if the concept really works,” Marian explains. The store takes up 3,000 square metres and has 64 employees. Several tens of metres away there is an Altex-owned Media Galaxy store. “Even though there is a large surface area store chain on the market that is a competitor, we feel our move is not tardy, because we estimate the market will reach one billion euros this year and double in three to four years,” Flanco”s general manager says. ZF