He adds the company will initially have online operations in Hungary.
Flanco, controlled by entrepreneur Iulian Stanciu, has a network of 160 physical stores, in over 110 cities of Romania, plus online operations. Flanco is Romania’s second biggest electronics retailer, with RON1.08 billion in turnover last year, 10.8% less than in 2019.
Its business evolution in 2021 is a positive one, but there are uncertainties for the second half of the year.
“The first half of the year ended with 20% higher sales from the first half of 2020. Unfortunately, at this moment we don’t have clear projections for the second half as we are highly dependent on commodity availability and the well-functioning of freight transportation especially from China. Moreover, we cannot anticipate people’s and authorities’ reaction to pandemics evolution, namely to the fourth wave”.
(English version by Catalina Apostoiu)