Polish companies are balancing its need to strengthen their growth on the domestic front while developing products and services that can compete with the best global brands.
“We need to change the mindset of the Polish customer. We want to start locally as we grow globally. Our biggest challenge is the transition from a local department store to an international store,” said Vitkac President Arkadiusz Likus.
Only five years old, Vitkac, located in central Warsaw, is becoming the go-to department store for luxury fashion and furniture brands from France and Italy. Likus is confident of the store’s growth as Poland expands its middle class and disposable income rises.
Like Vitkac, high-end cosmetic brand Dr. Irena Eris aspires to reach a wider international market.
Its efforts have paid off. Dr. Irena Eris is the only Polish company and non-French cosmetics brand that has been admitted as a member of Comite Colbert, a Paris-based association dedicated to promoting the best of French craftsmanship and luxury.
“On exports, we have to work with our partners and convince our consumers that Poland is a trustworthy brand and a place for cosmetic production,” said Dr. Irena Eris President Irek Sudnik.
Sudnik also revealed that the company’s priority is international expansion by targeting specific group, such as dermatologists and pharmacists.
With local brands strengthening their reputation for quality, chocolate maker Mieszko and ready-to-assemble furniture manufacturer Forte have developed much more confidence to compete with their larger European rivals on their turf.
Despite lingering challenges and a resolve to grow fast, local companies must not dilute their Polish identity and abandon their values once they penetrate foreign markets, according to Forte Founder and CEO Maciej Formanowicz.
“In Poland, there are still many international corporations and multinationals that treat Poland as a low salary country. This is not good at all,” Formanowicz added.
For Mieszko CEO Igor Jelinski, the company is benefitting from Poland’s growing reputation as a manufacturer of quality products as it gradually markets its chocolates across the region.
“We want to strengthen our position in Poland and its brand awareness. It needs to be more in tune with market trends and the expectations of the consumers,” Jelinski explained.
For family-owned SuperDrob, Poland has already proved to be a profitable destination for foreign investors. Established in 1996, the company now exports half of its poultry products to the European Union.
“Poland is a great country to do business. People come here from Asia and see that it is a good place to invest because it is one of the most dynamic economies in in Europe,” said SuperDrob President Cesar Lipka.
Meanwhile, X-Trade Brokers has not encountered any difficulty finding people confident in investing in the Polish economy. Based in Warsaw, the online FX and CFD trading firm is among the world’s leaders, raising its valuation to around $400 million as of this year.
“We have a reputation of high quality customer service. We’re always trying to be localized and keeping the money in the local country,” said XTB President Jakub Maly.
