Czerwona Torebka, a company created by Mariusz Świtalski, who founded retail chains Żabka, Biedronka and Eurocash, is planning to invest zł.4.5 billion until 2021 on setting up a chain of shopping plazas throughout Poland.

So far, the company has opened 22 such centers, and plans to open over 1,880 in total over the next nine years. By the end of that period, the company aims to operate 1.2 million sqm of leasable space.

The company said the chain is designed to match the needs of inhabitants in small and medium-sized Polish cities.

“The format of the company is to cater to the needs of small and medium-sized cities where there is still a big need for modern retail space,” Czerwona Torebka wrote in a statement.

Czerwona Torebka mini-malls will bring together grocery, commercial and service points.
“The new chain is to provide an alternative to the private retail outlets, the malls are to give shoppers an opportunity to easily access a wide range of high-quality goods,” the company said.

“For owners of local shops on the other hand, this is an opportunity to move their business into a convenient location with modern infrastructure,” it added.

Mariusz Świtalski is the majority shareholder of Czerwona Torebka, holding 74.69 percent of all shares, while Forteam Investments, which belongs to private equity fund AIG New Europe, has 25.04 percent.