Romanian Flanco Opens Four New Stores In RON5M Investment

04.14.2011 By Andrei Circhelan

Romanian electronics retailer Flanco on Thursday said it has invested some 5 million lei (EUR1=RON4.1021) over the past month in launching four new stores across Romania.

Romanian electronics retailer Flanco on Thursday said it has invested some 5 million lei (EUR1=RON4.1021) over the past month in launching four new stores across Romania.

The four new units have a cumulated surface of 2,300 square meters, which brings the network's total to 35,000 sqm, in 75 stores.

The new launches are part of Flanco's development strategy, which aims at a market share of more than 10% in 2011.

"The four new stores will bring sales worth a total RON30 million within the first year of operations," Flanco chief executive Adrian Olteanu said in a statement.

In the second half of the year, Flanco plans to launch another 5 to 8 units.

Flanco International operates retail networks Flanco and Flanco World. The company is owned by the Asesoft group.