Virtual Smyk expanding e-commerce shopping services

Empik Centrum Investors (ECI), controlled by Dutch holding Eastbridge NV, plans to invest $20 million in development of e-commerce trade. The company now owns three virtual shops, as yesterday Smyk Department Store joined Empik and Galeria Centrum on the Web. Combined revenues of the retail chain partnerships in 2000, which total roughly 150 outlets throughout Poland, should surpass zl.1 billion. According to ECI president responsible for retail and Internet trade Maciej Dyjas, virtual sales will be supported by Internet kiosks already in place at 70 of the holding's outlets. ECI will also invest an additional zl.130 million in modernization and development of traditional shops; this process should be finished within a year and a half. The holding has no problems with liquidity and as a whole should end the year with a slight loss, though Empik and Smyk should record profits. Eastbridge also plans to develop its services through UMTS or interactive television. (Rzeczpospolita, p. B4)