Flanco invests EUR 1.8 mln in expanding its network

IT retailer invested over EUR 1.8 million in expansion: opening new stores and upgrading the ones already in function. The investment budget is 80 percent higher than the budget posted at the start of the year and the company also anticipates it will finish 2014 with a 10 percent turnover increase, writes Mediafax.

At the start of the year, Flanco opened stores in the Winmarkt center in Cluj, the Sugas center in Sf. Gheorghe, in the Pavcom complex in Targoviste, in the Carpati shopping center in Sinaia. in Arcade Pallady in Bucharest, in Hunedoara and Timisoara. At the same time, the retailer relocated the Targu JHiu unit from Shopping City and the one in Miercurea Ciuc.

Flanco also renovated 42 units.

At present, the Flanco network includes 87 stores and after expanding the network, by the end of the year, it will reach a total retail surface of 55,000 square meter.

Flanco is also planning on expanding the unit in Bacau mall.  Also this year Flanco rented 5,000 square meters in the H.Essers logistical center in Bucharest.

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In the first nine months, the company posted sales of RON 480 million, up 10 percent compared to the same period in 2013.