This means the retailer should increase its business four times over a decade (2023 – 2033).
“We’re aiming for EUR1 billion revenue by 2033. To do that, we need to grow at a rate of 15% a year, three times faster than the market. There will be several growth drivers to help us in the process,” says Dragos Sirbu, Flanco CEO and minority shareholder.
“We are talking expansion first of all, we will open 10 to 15 stores this year alone. In all, we are in talks for another 30 stores. There are also almost 20 shopping centers we do not have a presence in, and we want to. So far, we’ve gotten into only one of them, and that was in 2024.”
Getting into malls is difficult because Flanco needs larger spaces.
“We’ve gone back to 800 to 1,000 square meter stores.”
Another growth driver is the repositioning of the company on the smart discounter segment as of last year. Every new store to be opened will be using this format. All the stores using the new model, 15 in all, are already performing better than the rest and the retailer will remodel the already existing stores in the coming years, at a rate of about 15 a year, Sirbu added.
Other growth factors are the mobile app, which Flanco will launch soon, the addition of new products like detergents, coffee, household cleaning products and the already existing buyback program that will develop further, the official said.
(English version by Loredana Fratila-Cristescu