Flanco

Flanco is a Romanian consumer electronics retailer. The company has 120 stores in 74 cities, and has over 1,500 employees.[1]

Flanco
TypePrivate
Founded1994
HeadquartersBucharest, Romania
Websitewww.flanco.ro

History

1994-1999

The company was founded by Florin Andronescu (Flanco is an acronym of Florin Andronescu Company).[2] The first store opened in 1994, making it the first Romanian electronics and home appliances retail chain.[2]

In 1996, Oresa Ventures and the Danube Fund invested in the company. Later, Oresa purchased the majority shareholding for 1 million.[3][2] By 1999, the company had 50 stores.[3]

2006-2021

When Flanco was taken over by Flamingo in 2006, it was valued at 70 million euros.[3]

By the end of 2009, the company was insolvent, and began restructuring.[4] A 60% stake of the company was bought by the Asesoft group for 14 million euros in September 2010.[5] The company has been under the sole ownership of Iulian Stanciu since 2012.[6] Its CEO is Dragoş Sârbu.[7] It recorded sales of over a billion lei in 2018.[8] In 2021, the company opened its largest store in Ploiești.[9]

References
  1. "Flanco Retail SA Company Profile - Romania | Financials & Key Executives | EMIS". www.emis.com. Retrieved 2021-06-29.
  2. "Afaceri autohtone pornite de la zero, vândute pe şase zerouri". Capital. 4 June 2008.
  3. "20 de ani de capitalism - Florin Andronescu: de la perioada in care televizoarele se vindeau din camion si "bancile erau neprietenoase", la cel mai mare exit". Ziarul Financiar.
  4. "Cum a ieşit retailerul Flanco din insolvenţă". Adevarul. 30 July 2010.
  5. "Flanco wants to employ over 150 people this year". Wall-Street. 21 January 2011.
  6. "Iulian Stanciu holds all the reins in Flanco and Network One Distribution". Business Review. 20 August 2012.
  7. Goaga, Alex (12 June 2014). "Dragos Sirbu, Flanco: In Flanco invat mult despre calitate. La Altex am invatat mult despre volum". Wall-Street.
  8. "Flanco has exceeded 1 billion ROL and has increased its profit 4 times in 2018". Financial Intelligence. 13 March 2019.
  9. Chirileasa, Andrei (2021-09-27). "Romanian electro-IT retailer Flanco develops new mixed store format". Romania Insider. Retrieved 2022-05-03.
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