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6 December 2001

Enterprise Investors invests in a start-up chain of home furnishing stores in Poland

Warsaw, 6 December 2001 — Enterprise Investors, the largest venture capital/private equity firm in CEE, has invested $3 million in Decorador, a new chain of home furnishing stores being launched in Poland. EI has made the investment through the Polish Enterprise Fund and Polish Enterprise Fund IV, two of the funds it manages. The first Decorador shop will open in Warsaw in March 2002. EI will consider an additional $3 million as a potential follow-on investment to finance the rollout of the concept in other major Polish cities.

Since 1990 Enterprise Investors has invested over $600 million in Poland and the CEE through its four funds – the Polish Enterprise Fund, Polish Private Equity Funds I & II and the Polish–American Enterprise Fund. The 85 companies in which EI has invested span all economic sectors.

EI owns 100% of the shares of Decorador. This is the fifth retail firm in which EI has invested, after W.Kruk, Deni Cler, Eldorado, and Apteki Polskie, bringing EI’s total invested in this sector to $23 million. This is also the sixth start-up company in EI’s portfolio.

“Our faith in Decorador’s success is based on the belief that there is a growing demand for home furnishing goods in Poland and that we have trusted professionals who are experienced in retail trade to manage the project,” said Jacek Siwicki, managing partner of Enterprise Investors, who is responsible for the investment.

Decorador will differentiate itself on the Polish market by its wide range of home furnishing and décor products, attractive pricing, value-added services, store format and location. Its product categories will include textiles, home décor and accent, kitchen and dining, lighting and electric, home use, and space savers.

Decorador’s products will be functional and aesthetic, as both these factors are increasingly important to the modern Polish client. The company also aims to offer its customers a wide variety, and goods that are unique in design and character.

An important feature of Decorador will be its “above and beyond” service. Future employees are being trained to help, recommend and inspire new solutions in home design. They will be able to advise on layout and interior design, as well as helping with installation, providing tailor-made services and offering a gift registry (still a novelty in Poland).

Surveys of Decorador’s future clients show which of the concept’s key features they rated the highest:

  • broad product range (29% of respondents)
  • unique goods and a changing assortment (28%)
  • home delivery (22%)
  • spacious shops (18%)
  • convenient locations (16%)

Decorador’s target is to achieve 8% market share within five years.