The company plans to expand its store network and refurbish existing units.
“First quarter turnover rose from last year, primarily owing to stores located in malls and retail parks. For 2023, we envisage expanding the store network, as well as modernizing and digitalizing the existing units. We’ve prepared the biggest investment budget in Flanco history, over RON20 million, so that we are currently seeking the most suitable opportunities for us,” stated Dragos Sirbu, Flanco CEO.
He added the company budgeted a 20% turnover increase against a slower market advance it puts at 3, maximum 8%.
At present, the retailer has over 1,500 employees and a network made up of 158 stores, of which five opened in the first quarter of 2023.
(English version by Catalina Apostoiu)