“The first months of the year look encouraging, with an over 10% market increase by value, brought about by rising incomes at end-2023, the mild winter and political stability,” says Dragos Sirbu, CEO and a minority stakeholder in electro-IT retailer Flanco, the second major player in the field by turnover.
Inflation also contributed to this evolution.
He hopes consumers’ confidence in the future will rebound in 2024. He also hopes for a purchasing power revival.
“We’ve built a budged based on a 6% market increase and a 14% company advance. In terms of profitability, if we get RON1 above zero at the end we will be very happy”.
2023 was the year with the best sales in the company’s history, with turnover reaching some RON1.275 billion, up 20.5% from the previous year. The advance was partially supported by expansion. The retailer has around 160 stores.
“For Flanco, we want to continue nationwide expansion eyeing opportunities”.
The company’s plans also include store refurbishments, as Flanco has repositioned itself as a smart discounter.
(English version by Catalina Apostoiu)