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]
