Flanco invests over EUR 20 mln in the expansion and modernization of its store network

The retailer Flanco announced that it closed the first quarter of the year with sales of over RON 300 million, up 40 percent compared to the same period of the previous year. This year, the company will invest over RON 20 million in the expansion and modernization of the store network, this being the largest investment budget in the company's history.

"The turnover of the first quarter increased compared to last year, primarily due to the stores located in malls and retail parks. For the current year, we aim to expand the network of stores, but also to modernize the existing stores and digitize them by implementing electronic labels. We have prepared the largest investment budget in the history of Flanco - over RON 20 million allocated to these objectives, so we are currently looking for the most suitable opportunities for us," says Dragoș Sîrbu, CEO of Flanco.

The retailer currently has a network of 158 stores, five of which opened this first quarter.