Flanco currently has more than 150 stores.
For 2023, the retailer’s general manager and minority shareholder, Dragos Sirbu, is optimistic as the company estimates a 20% increase in turnover, on a market seen growing 3-8% by value.
Flanco reported a 3% higher turnover for 2022, of RON1.064 billion.
“The number of units sold declined over 5% compared to the previous year. Evidently, the evolution of sales was strongly influenced by the first half of 2022 when the impact of Russia’s invasion of Ukraine was deeply felt,” said Dragos Sirbu.
In 2021, the retailer’s net profit stood at RON15 million, down 33% on the year, while its turnover dropped by 5% compared to 2020.