Flanco

Flanco is a Romanian consumer electronics retailer. The company has 120 stores in 74 cities, and has over 1,500 employees.[1]

Flanco
TypePrivate
Founded1994
HeadquartersBucharest, Romania
Websitewww.flanco.ro

History

The company was founded by Florin Andronescu (Flanco is an acronym of Florin Andronescu Company) and the first store opened in 1994.[2] Flanco also became the first Romanian electronics and home appliances retail chain in 1994.[3]

In 1996, Oresa Ventures and the Danube Fund invested in the company, later Oresa purchased the majority shareholding for 1 million.[2][3] By 1999, the company had 50 stores.[2] When Flanco was taken over by Flamingo in 2006, it was valued at 70 million euros.[2]

By the end of 2009, the company was insolvent, and began restructuring.[4] A 60% stake of the company was bought by the Asesoft group for 14 million euros in September 2010.[5] The company has been under the sole ownership of Iulian Stanciu since 2012.[6] Its CEO is Dragoş Sârbu.[7] It recorded sales of over a billion lei in 2018.[8] In 2021, the company opened its largest store in Ploiești.[9]

References
  1. "Flanco Retail SA Company Profile - Romania | Financials & Key Executives | EMIS". www.emis.com. Retrieved 2021-06-29.
  2. "20 de ani de capitalism - Florin Andronescu: de la perioada in care televizoarele se vindeau din camion si "bancile erau neprietenoase", la cel mai mare exit". Ziarul Financiar.
  3. "Afaceri autohtone pornite de la zero, vândute pe şase zerouri". Capital. 4 June 2008.
  4. "Cum a ieşit retailerul Flanco din insolvenţă". Adevarul. 30 July 2010.
  5. "Flanco wants to employ over 150 people this year". Wall-Street. 21 January 2011.
  6. "Iulian Stanciu holds all the reins in Flanco and Network One Distribution". Business Review. 20 August 2012.
  7. Goaga, Alex (12 June 2014). "Dragos Sirbu, Flanco: In Flanco invat mult despre calitate. La Altex am invatat mult despre volum". Wall-Street.
  8. "Flanco has exceeded 1 billion ROL and has increased its profit 4 times in 2018". Financial Intelligence. 13 March 2019.
  9. Chirileasa, Andrei (2021-09-27). "Romanian electro-IT retailer Flanco develops new mixed store format". Romania Insider. Retrieved 2022-05-03.
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