Neinver to open first Factory Outlet near Warsaw

A subsidiary of Spanish company Neinver is to open its first "Factory Outlet" shop selling brand products at discounted prices in Ursus near Warsaw later this week. The investment, worth about $10 million, is the first phase of the company's development plan for Poland, and has already attracted 20 vendors. "Such centers are very popular around the world. Customers can buy end-of-line brand names very cheaply, while companies can easily sell off excess stock or production surpluses," said Agnieszka Sawicka from Jones Lang LaSalle, the firm retained to let space in Factory Outlet. According to Sawicka, the center should not be a threat to traditional shops as it is located on the outskirts of the city. According to the president of the National Council of Fashion (KIM) Barbara Wandachowicz, this will be a good opportunity for domestic producers to sell stock and improve their liquidity. However, Neinver Polska's management is very careful in planning future development of their trade centers. If the Ursus-based center proves profitable, the company will first expand it and only then start investing in other cities. However, The Outlet Company, a British discount chain, is also planning to open a similar center, worth euro 30 million, in Sosnowiec in October 2003 and later other shops in Gdansk, Warsaw, Poznan and Szczecin. (Rzeczpospolita, p. B3) M.M.