Flanco World spends 16m euros on expansion

Flamingo International, the third largest home appliances retailer in Romania, will invest 16 million euros to expand its overall retail area to 70,000 square metres this year, with 12 Flanco Worlds scheduled to open. The investment in a Flanco store with more than 1,000 square metres of floor space stands at approximately 1.3 million euros, while the total number of large stores is set to reach 30. The largest Flanco store to open this year will be located in the Colosseum retail park in Bucharest, with a 3,000 square metre area, and an investment worth 1.5 million euros. After the expansion plans were announced, Flamingo representatives said they wanted Flanco network to account for approximately 70% of the company’s overall store network. “The company estimates that Flanco World stores will account for more than 70% of the overall sales area of the group by 2010,” stated Jiri Rizek, general manager of Flamingo.