Flanco

Flanco is a Romanian consumer electronics retailer. 
The retailer employs over 1,500 people and operates more than 150 stores in Romania as of 2019. 
History.
The company was founded by Florin Andronescu (Flanco is an acronym of Florin Andronescu Company) and the first store opened in 1994. Flanco introduced monthly payments on its purchase by customers in 1994, which allowed it to grow rapidly, and it became 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. By 1999, the company has 50 stores, and 75 by 2009. When Flanco was taken over by Flamingo in 2006, it was valued at 70 million euros. 
After years of growth, economic downturn impacted on its business, which led to insolvency by the end of 2009 and restructuring of the company. A 60% stake of the company was bought by the Asesoft group for 14 million euros in September 2010. The company has been under the sole ownership of Iulian Stanciu since 2012. Its CEO is Dragoş Sârbu. It recorded sales of over a billion lei in 2018.