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| Type | Private |
|---|---|
| Founded | 1994 |
| Headquarters | Bucharest, Romania |
| Website | www.flanco.ro |
Flanco is a Romanian consumer electronics retailer. The company has 120 stores in 74 cities, and has over 1,500 employees. [1]
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]
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]
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Ecaterina Andronescu is a Romanian engineer, professor, and politician. A member of the Social Democratic Party (PSD), she sat in the Romanian Chamber of Deputies from 1996 to 2008, representing Bucharest, and was a Senator from 2008 until 2020, for the same city. In the Adrian Năstase cabinet, she was Education Minister from 2000 until June 2003. She held the same position in the cabinet of Emil Boc from 2008 to 2009, in the Victor Ponta cabinet during 2012, and finally in the Viorica Dăncilă cabinet for under 9 months between November 2018 and August 2019. She is married and has one child.
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