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Flamingo retailer invests 10 million euros in opening 10 Flanco World stores

The Flamingo International retailer of electronic and home appliances will invest till the end of the year 10 million euros in opening 10 Flanco World stores, which will cover a total area of 15,000 sq m. The above-mentioned company estimates that the Flanco World network, which will include 31 stores by the end of the year, will account for about 50% of the 115 million euro sales budget. The company stakes on sales of over 210 million euros for the whole year.
The new stores will make the retail area of Flamingo be 70,000 sq m. Besides the expansion of the Flanco World network the company mentioned before informed of the opening of 5 Flamingo Computers stores, a retail concept specialized in commercializing IT&C solutions.

According to Jiri Rizek, Flamingo CEO, after the expansion of the network, the number of employees will rise from 1,000 to 1,360-1,400 people. The final number of the new employees in the second half of the year depends on the supplementary necessity for the winter holidays.
Rizek said that the sales would evolve in an ascending way due to the acquisitions connected to the beginning of a new academic year. Thus, after, two months ago, the company registered sales of air conditioners above average, for the time to come Flamingo estimates that the sales of notebooks and systems will come first again.

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