Luxury returns to Poland – Economic Policy



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The gray Ferrari stops just steps from the Polish presidency in Warsaw, a young woman, sneakers and sunglbades Chanel, small dog well cuddled in the arms, goes down and enters the hotel Raffles Europejski, a symbol the return of luxury in Poland.

It goes "at Lourse": besides the rooms and suites whose price ranges from 250 to 4,000 euros per night, the hotel houses a historic pastry named after its Swiss founder Laurent Lourse, arrived in Warsaw in 1820.

Europejski, legendary establishment, considered in the 19th century as the best hotel in Eastern Europe, where today every customer can count on his personal butler, has just reopened its doors after five years of work

It could accommodate next year the first Hermes shop in Poland, murmur in the corridors. In Paris, the French group confined itself to confirming "a project to set up in Warsaw at the end of 2019, beginning of 2020."

Luxury is more and more visible in Poland, testifying to the appearance of a new rich clbad – bosses of successful family businesses, real estate developers, bankers …

He was absent for a long time in this country, first because of immense destruction during the Second World War and then because of egalitarianism Communist regime official.

"Vertical Village"

Real estate symbol of this luxury: the tower of 44-storey Cosmopolitan apartments, minimalist design imagined by the German-American architect Helmut Jahn, author of the headquarters of the European Union in Brussels.

Of the top 100 real estate transactions in Warsaw in 2015, 2016 and 2017, 79 involved apartments in the Cosmopolitan tower, told AFP the president of the Polish company Tacit Investment whichfinanced the construction, Karolina Kaim

The price of an apartment in this luxurious building varies depending on the floor and the view: the one on the Vistula and the Old Town is the most popular and costs around 10.000 euros the square meter. An amount not surprising in Paris or London, but breathtaking in Poland where the average monthly salary is 1,100 euros.

The owners are mostly Polish (only 10% foreigners) and form a kind of community in this "vertical village" whose creation has cost more than 100 million euros, says Ms. Kaim. "It is easy to talk in the elevator", which looks like a mini-living room.

Moreover, some inhabitants do not need to introduce themselves: there are among them stars of the song, the show and the football, favorites televisions and tabloids.

Rolls-Royce and Lamborghini

Symbol of luxury also, the cars: Rolls-Royce, Ferrari, Bentley or Lamborghini … A few years ago still, the appearance of a vehicle adorned with the little black horse on a yellow background provoked a crowd of curious people. Today, at least in Warsaw, the Ferrari is no longer the same effect.

The Italian brand has two concessions, one in Katowice, Silesia, the other in Warsaw. Their marketing director Karolina Szulecka does not want to cite the sales figures, but notes that the interest of the customers grows continuously and that, was the voluntary limitation of the production by the Italian manufacturer, the Poles would buy, new, " 10 or 15% more ".

After the fall of Communism in Poland, a clbad of wealthy businessmen and entrepreneurs grew rapidly – often formerly privatized business owners, who took them over and developed, or small traders or artisans, who quickly adapted to the new conditions and created or expanded their family business.

Then European subsidies and investments flowed to Poland after joining the EU in 2004. The importers of many foreign products, whose thirsty Polish market, also made their fortune quickly.

Between 1990 and 2015, Poland's GDP more than doubled. Today, exports are growing and, according to IMF forecasts, growth should exceed 4% in 2018, supported in particular by "solid domestic consumption."

Twelve Ferrari

Today, Poland has his lot of collectors of luxury cars. A land developer working for a major international agency says he has three Ferrari cars in the garage. The largest Polish collector, who prefers to remain anonymous, would have twelve …

The boss of joint concessions Bentley and Lamborghini, Piotr Jedrach, account, him, sell this year about fifty opulent British limousines, including the SUV model

Same perspective for the Lamborghini, exhibited in Warsaw in a setting that looks like a futuristic temple.

These cars are dreaming of many Poles. But some express their misunderstanding about those who accumulate, like Hanna Mrowiec, a retired executive living in a small two-room apartment: "If I had so much money, I would buy myself a Ferrari too. to have three "absurd, you can not ride in three Ferrari at a time," he says to AFP.

The Polish luxury is often more discreet, more attached to the cultural patronage badociated with bling

The owner of Raffles Europejski, the wealthy Swiss Vera Michalski, also patron of Editions Black sur Blanc, has bought about 500 works of modern Polish painters and sculptors and, to decorate his hotel, lent some issues from his personal collection.

On the 42nd floor of the Cosmopolitan Tower, all of Warsaw – and not just the happy few who live there – could admire this spring an exhibition of works by the painter and sculptor Wojciech Fangor, the only Pole to av He had, individually, the honors of the Guggenheim Museum in New York.

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