Flanco Retail: 2017 was best year in history, sales up to RON 983 mln

Anca Alexe 06/03/2018 | 15:46

Flanco Retail, a Romanian brand active on the domestic market since 1994, ended 2017 with the highest sales in the company’s history, reaching RON 983 million (EUR 210 million), a 7 percent growth from the previous year.

Dragos Sirbu, CEO of Flanco Retail: “2017 was a peak year in Romanian retail, with a strong growth of consumption on several segments. Beyond historic sales, last year for Flanco also meant a rebalancing of our presence in the country, based on efficiency criteria – we opened new stores (expanded to 13 new cities), relocated a few others, closed some with weak performance, especially in a few large commercial centres.”

At the end of 2017, Flanco Retail owned a network of 125 stores, of which 17 newly opened, 8 refurbished and 6 relocated stores. At the same time, the retailer closed 10 stores last year, which were no longer cost effective following the growth of online sales. In the period between January 2017 and February 2018 the company finalised a plan to stop operations in 16 stores.

Of its investments, which went up to RON 8 million last year, the company allocated most (60 percent) to opening, relocating or refurbishing its spaces. Another significant percentage of investments – 20 percent – went to the development of the online and mobile platforms, in which Flanco invested around RON 1.6 million.

In 2017, Flanco improved the quality of its delivery services, implementing a platform for efficiently tracking deliveries. 9 out of 10 clients who chose home delivery received their package in less than 48 hours.

In a context in which employers are making efforts to find the best solutions for retaining and motivating employees, a large part of Flanco’s investments (20 percent) went towards training employees last year. This included improving management solutions, communications, personal productivity, implementing a real time monitoring method of performance indicators as well as an e-learning platform, with adapted internal trainings. All these investments were reflected in the retention of staff, which had a significant improvement in 2017.

For the second year in a row, the company financed the We Care programme, which aims to fight school abandonment by opening afterschool-type centres for disadvantaged children in rural areas. The programme expanded last year from 6 to 15 schools – from 150 children to 600 in the whole country.

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