Flanco

{{Infobox company

| name = Flanco

| logo = Flanco logo.png

| type = Private

| slogan =

| foundation = 1994

| location = Bucharest, Romania

| key_people =

| num_employees =

| industry =

| revenue =

| products =

| website = [https://www.flanco.ro/ www.flanco.ro]

}}

Flanco is a Romanian consumer electronics retailer. The company has 120 stores in 74 cities, and has over 1,500 employees.{{Cite web|title=Flanco Retail SA Company Profile - Romania {{!}} Financials & Key Executives {{!}} EMIS|url=https://www.emis.com/php/company-profile/RO/Flanco_Retail_SA_en_4298009.html|access-date=2021-06-29|website=www.emis.com}}

History

= 1994-1999 =

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

In 1996, Oresa Ventures and the Danube Fund invested in the company. Later, Oresa purchased the majority shareholding for 1 million.{{cite web |title=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 |url=https://www.zf.ro/companii/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-4938379 |work=Ziarul Financiar}}{{cite web |url=https://www.capital.ro/afaceri-autohtone-pornite-de-la-zero-vacircndute-pe-x15fase-zerouri-109159.html |title=Afaceri autohtone pornite de la zero, vândute pe şase zerouri|work= Capital |date= 4 June 2008 }} By 1999, the company had 50 stores.

= 2006-2021 =

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

By the end of 2009, the company was insolvent, and began restructuring.{{cite web |url=https://adevarul.ro/economie/stiri-economice/cum-iesit-retailerul-flanco-insolventa-1_50ba08067c42d5a663b0f4ee/index.html |title=Cum a ieşit retailerul Flanco din insolvenţă |date=30 July 2010 |work=Adevarul }} A 60% stake of the company was bought by the Asesoft group for 14 million euros in September 2010.{{cite web |url=https://www.wall-street.ro/articol/IT-C-Tehnologie/98048/Flanco-vrea-sa-angajeze-peste-150-de-oameni-anul-acesta.html |title=Flanco wants to employ over 150 people this year |work=Wall-Street |date=21 January 2011 }} The company has been under the sole ownership of Iulian Stanciu since 2012.{{cite web |url=http://business-review.eu/featured/iulian-stanciu-holds-all-the-reins-in-flanco-and-network-one-distribution-30875 |title=Iulian Stanciu holds all the reins in Flanco and Network One Distribution |date= 20 August 2012 |work=Business Review}} Its CEO is Dragoş Sârbu.{{cite news |url=https://www.wall-street.ro/articol/eCommerce/167424/dragos-sirbu-flanco-altex-am-invatat-mult-despre-volum-in-flanco-invat-mult-despre-calitate.html |title=Dragos Sirbu, Flanco: In Flanco invat mult despre calitate. La Altex am invatat mult despre volum. |work=Wall-Street |first=Alex |last=Goaga|date=12 June 2014 }} It recorded sales of over a billion lei in 2018.{{cite web |url=https://financialintelligence.ro/flanco-a-depasit-1-miliard-de-lei-cifra-de-afaceri-si-si-a-crescut-profitul-de-4-ori-in-2018/ |title=Flanco has exceeded 1 billion ROL and has increased its profit 4 times in 2018 |work=Financial Intelligence |date=13 March 2019 }} In 2021, the company opened its largest store in Ploiești.{{Cite web |last=Chirileasa |first=Andrei |date=2021-09-27 |title=Romanian electro-IT retailer Flanco develops new mixed store format |url=https://www.romania-insider.com/flanco-mixed-store-format-sept-2021 |access-date=2022-05-03 |website=Romania Insider |language=en}}

References

External links

[http://www.flanco.ro/ Official site in Romanian]
[http://www.flanco.ro/ E-commerce site in Romanian]

Category:Retail companies of Romania

Category:Retail companies established in 1994

Category:Consumer electronics retailers