“The evolution is explained through an increase in market share, as well as through the generation of new business, following the implementation of attractive marketing campaigns,” company marketing director Violeta Luca told a news conference.
Flanco continued in 2011 to focus on rendering retail activity more efficient, with sales per square meter reaching EUR3,000, compared to EUR2,500 in 2010.
Last year, the company increased its workforce from 600 to 870 employees.
In 2011, Flanco opened 14 new stores, following an investment of more than EUR8.5 million (including stocks).
For the first quarter this year, the company expects a 40% increase in turnover compared to the same interval of 2011. For the entire 2012, the company expects sales to reach EUR140 million.
In addition, the Flanco plans to invest EUR3.5 million this year, in new store launches.
Flanco Retail operates the business of former Flanco International, and it is one of the largest local retailers of electronics and household appliances.
Flanco International went insolvent in 2009.