Romania's Flanco buys land for two new stores

The plots are located in commercial areas in Botosani and Brasov and were acquired in the last six months, Flanco said in a press release.

The retailer plans to build stores under a new concept, optimised for operational and energy efficiency. The commercial spaces it targets will have an area of 1,500 sq m, which will be able to accommodate storage areas, presentation areas for a variety of products and dedicated areas for technology testing.

The stores will be complemented by parking spaces, large green spaces, and specially arranged areas for the collection and recycling of electronic waste, Flanco said.

'We are targeting similar acquisitions of land or commercial buildings in 20 medium and large cities in the country. We are prospecting the market for real estate projects with potential. At the same time, we continue our strategy of expanding the network throughout the country," said Dragos Sirbu, CEO of Flanco.

In 2023, Flanco made investments worth over 30.5 million lei ($6.6 million/6.1 million euro), 70% of which was directed towards its network of stores.

The Flanco brand was launched in 1994 and the retailer currently employs over 1,500 people, owning a network of 157 stores in 113 Romanian cities.

(1 euro=4.97764 lei)