Interview was conducted by: Anne-Kathrin Velten
ACROSS: BIG IS A KNOWN AS A STRONG BRAND IN THE BALKANS, BUT – AT LEAST SO FAR – LESS SO IN POLAND. HOW DID THE IDEA TO ENTER THE POLISH MARKET COME ABOUT?
ERAN LEVY: Until 2022, BIG had no presence here in Poland. After working with the company in the U.S., I returned to Israel, where our Group CEO invited me to join him in exploring opportunities in Poland. He had already initiated preliminary discussions and recognized the strong potential, and I was excited to be part of shaping this new chapter.
Poland – a country with strong GDP growth, steady EU funding, and a rapidly expanding consumer market – has nearly 40 million people and sits at the crossroads of Central Europe. We quickly saw that the retail park segment had room for significant growth and that our expertise fit perfectly. So, as I like to say, we “jumped into the water.” In the beginning, there was almost nothing – no office, no team, just one or two of my colleagues and me. Step by step, we built the foundation: creating a pipeline, closing acquisitions, and turning an idea into a fully operational platform within just a few years.
Eran Levy
Chief Operating Executive of BIG Poland
ACROSS: WHAT WERE THE MOST IMPORTANT MILESTONES IN BUILDING BIG POLAND?
LEVY: The first real milestone was closing our first acquisition in 2022. It was symbolic, but also proof that we were not just talking – we were delivering. We then had to navigate a period of turbulence: Interest rates began to rise in late 2022, which forced us to pause our pipeline. In 2023, we deliberately avoided entering into any new deals. However, this pause was strategic. We kept relationships alive, monitored the market, and waited for the right window.
That window opened in 2024. Interest rates stabilized, financing became more predictable, and we returned to negotiations that had been put on hold. Everything moved quickly. Within one year, we closed most of the acquisitions that now form our Polish portfolio. Today, we have 10 operating retail parks and three in development. Given the fact that we entered the market three years ago, the trajectory is exceptional.
ACROSS: LOOKING AHEAD, WHAT ARE BIG’S EXPANSION GOALS IN POLAND? IS THERE A LIMIT?
LEVY: We don’t set artificial limits. Our approach is: As long as we can find good projects in good locations that meet our criteria, we will grow. We are looking for medium and large projects in order to achieve both operational efficiency and strong brand presence. Poland offers plenty of room for further growth. It’s a large country, and retail parks are still underrepresented compared to the demand we see. So, in five years, if the opportunities are there, BIG Poland could double or triple in size.
ACROSS: HOW HAS THIS FAST GROWTH AFFECTED YOUR TEAM AND ORGANIZATIONAL STRUCTURE?
LEVY: In 2022, the first goal was to establish the office and the structure of the company. Each retail park has its own management team – on-site managers who are BIG employees. We also have our Warsaw headquarters and regional marketing coordinators in the north, center, and south. The philosophy is to remain lean and flexible at the headquarters, while building a strong local presence at each property. We want to keep the spirit of a boutique company even as we grow, because that allows us to stay close to our tenants and communities.
ACROSS: BIG POLAND IS FOCUSED ON RETAIL PARKS. WHAT MAKES YOUR RETAIL PARKS STAND OUT COMPARED TO COMPETITORS?
LEVY: First of all, our projects are large, with generous parking and strong tenant mixes. Secondly, we invest in a high level of maintenance, beautiful landscaping, and creating customer experience. That may sound basic, but it’s the key to creating enjoyable centers and amazing experiences. When people walk into a BIG retail park, they immediately notice the difference. Thirdly, we constantly run marketing campaigns, rebranding events, community festivals, and social media promotions. Tenants tell us that it has felt like a different story since BIG took over. Finally, tenant partnerships/relations are highly important to us, and we see our role as supportive in every aspect – always keeping an open dialogue and working together on solutions, whether through marketing support, contract adjustments, or events. This ongoing approach helps build long-term trust.
ACROSS: HOW IS THE BIG BRAND PERCEIVED IN POLAND?
LEVY: We are still relatively new, so brand awareness is a work in progress. However, we have put a lot of effort into our projects: Every acquisition results in immediate rebranding, every event is tied to the BIG logo, and all communication emphasizes consistency. From the customer’s perspective, BIG means convenience, variety, accessibility, and activity. They know they will find not only shops, but also events, promotions, and a sense of liveliness. Our goal is to make BIG retail parks an integral part of everyday life, providing a comfortable, open-air experience – with more convenience than malls located in larger cities can provide.
ACROSS: HOW DO YOU SEE THE TENANT MARKET IN POLAND?
LEVY: Poland has a wide range of international and local brands. Compared to the Balkans, there is more choice. Historically, many brands only wanted to be in shopping malls, not retail parks. That is changing. In the last three years, we have seen the arrival of fashion tenants such as H&M, New Yorker, and other major fashion retailers at retail parks. Once they try one location, they often want to expand. F&B still has a long way to go and has huge potential to grow. We have recently built a dedicated restaurant for one project, we signed a national bakery chain, and we’re in talks with more operators. Our strongest partners are supermarkets and DIY chains, because they drive consistent traffic. Our ambition, however, is to diversify further, especially in food and leisure.
ACROSS: WHAT CHALLENGES DO YOU FACE IN POLAND?
LEVY: Unfortunately, there are many:
- Labor shortages: Many tenants want to open more stores but struggle to find employees. To support them, we sometimes organize recruitment days with tents, branding, and promotion. We are not limited to market offers in each business segment – we simply look at what our visitors and partners need and do our best to make it happen.
- Tendering segments of a project – typically the most expensive phases (major budget drivers, such as construction and energy): Construction costs have risen significantly; we have responded by widening tenders (inviting more contractors and negotiating harder). Energy costs remain uncertain despite subsidies, which is mitigated by the competitive tendering of suppliers and the exploration of stock market purchases.
- Inflation: It has recently come down, but we always monitor it closely as it affects both consumers and financing.
Such challenges are real, but we face them proactively, always asking: What else can we do, and how can we adapt?
ACROSS: IS BIG POLAND CONSIDERING WESTERN-STYLE SHOPPING MALLS OR OUTLET CENTERS?
LEVY: We are focused on retail parks. That is our core area of expertise, and there is still huge room for growth. I would not exclude the possibility, though. If a truly good mall or outlet opportunity arises, we will consider it. We are flexible and pragmatic.
ACROSS: THE ROLE OF ENTERTAINMENT IN RETAIL HAS GROWN. HOW HAS BIG POLAND ADDRESSED THIS ISSUE?
LEVY: Entertainment is essential. We already incorporate it through marketing events: concerts, festivals, children’s shows, bike races, you name it. Such events turn retail parks into community hubs. As for tenants, we are integrating more indoor playgrounds, fitness centers, cinemas, and trampoline parks. One of our current projects includes a 600-square-meter indoor playground; another one is negotiating with a cinema operator. Retail parks should not only offer shopping opportunities but should also provide a variety of entertaining options – from lunches, relaxation, places to meet and hang out, service providers like banks and hairdressers, and so on.
ACROSS: WHAT IS YOUR OVERALL VIEW OF THE POLISH MARKET?
LEVY: Poland is one of the most promising retail markets in Europe. GDP growth is solid, EU funds continue to flow, infrastructure is improving, and positive immigration from Ukraine has increased the labor force and consumer base. At the same time, retail parks are still underdeveloped compared to Western Europe. That means opportunity. The segment is maturing quickly, and BIG intends to be at the forefront.
ACROSS: WHAT IS YOUR LONG-TERM OUTLOOK FOR BIG POLAND?
LEVY: If the next five years are like the last one, I will be very happy. We want to keep growing quickly but without compromising on quality. That means good locations, large-scale projects, strong tenant mixes, and professional management. If we achieve that, BIG will be recognized nationwide as the leading retail park operator in Poland. Customers will associate our brand with convenience and quality; tenants will see us as a reliable, long-term partner. The sky’s the limit, as long as we remain disciplined and true to our DNA. We would be happy to continue to grow as we have done over the past three years. This can be achieved with our current partners as well as those we will gain in the future. We are a company that relies heavily on current and future joint ventures, which, together with our employees, are an integral part of our identity and strength.
