Flanco to sell more computers than refrigerators

Flamingo International Group will concentrate on selling IT&C products, even though prices are set to drop after integration into the European Union, said Jiri Rizek, managing director of the group’s retail division. The Flamingo group comprises the Flamingo chain, which specialises in IT&C, and the Flanco chain, which specialises in home appliances. “This year, after we took over the Flanco group, we decided to make some changes. Before, we (Flanco) used to focus more on home appliances but now we are focusing on selling IT&C products, LCD TVs, audio and Playstation equipment,” said Rizek. The home appliance market is dropping in value, which resulted in Flamingo reporting 5.2 million-euro losses at an 86 million-euro business for the first nine months. For the whole year, the group had estimated 4.5 million-euro losses. Jiri Rizek specifies that after integration, prices for electronics will fall, but prices of home appliances will rise.