Wywiad z Markiem Piechockim, prezesem firmy odzieżowej LPP

It happened on March 13th. All retail establishments, all restaurants—not just in Poland but in most countries—were shut down. Unfortunately, this means we were deprived of revenue while continuing to meet our obligations to employees and suppliers who had produced our collections. The biggest challenge today is managing people in this context to preserve as many jobs as possible. Non-operating stores generate costs on various fronts. We have a new law that helps to some extent, and we're examining how to apply it across our retail locations. This is our greatest challenge: protecting as many jobs as possible. There's a strong awareness that we're all fighting to protect health and life. At the same time, we know the entire world will face a major recession after the pandemic. Media report it will be the largest in history, far exceeding 2008–2009. Governments are trying to support economies through stimulus measures. What's crucial is protecting jobs. We founded the Polish Employers' Federation of Trade and Services to dialogue with lawmakers about how the March 13th regulations affect our sector. In the longer term, we're preparing for recession. It's widely said you need to protect cash rather than think about recovery. For us, it's already obvious—as CEO and representing our shareholders—that we won't pay dividends this year. We want to protect that money to maintain liquidity. Our plans aim to do everything possible to protect the company and the 200,000 jobs in the sector. How this will look in detail, none of us knows. We're preparing for the worst. We've never experienced a situation where all restaurants are closed, all airlines practically non-functional, all shops shut. It's the first time all of Europe and the United States are locked down. Governments are doing everything to minimize the slowdown.

I believe each person should focus on what they do best—that makes help most effective. We've been working in China for 30 years and have extensive knowledge of how and where to act. When the coronavirus wasn't yet on anyone's mind, at the end of January and first days of February, we helped our consumers, office employees, and Chinese partners by sending 500,000 masks. Now over a million are returning from China—300,000 will arrive by April 5th to 10th, and another 700,000 around April 20th. We've already distributed tens of thousands. These masks will appear in Polish hospitals, and we want to reach as many as possible. Through the Polish Employers' Federation, we're also starting production in Poland—both masks and protective suits. The Industrial Development Agency is working with us, and we aim to begin production this week. We're also helping the Prime Minister's Chancellery procure equipment from China. We're doing a lot, and I look ahead with trust—over 150 companies in the federation, many Polish brands like Ochnik and Monnari are mobilizing. We have many seamstresses ready to produce suits, masks, and gowns that hospitals urgently need. I'm also happy that many Poles have gotten involved. This unprecedented situation has inspired numerous initiatives to help—especially for healthcare, which needs support most.

We've learned to work remotely using various media that let us see someone 500 or 1,000 kilometers away on a computer screen and calmly carry out activities together. What's most pleasing is seeing these helping initiatives across various areas—primarily healthcare, which needs suits and equipment most. There's significant social mobilization. Not just us as a company—many enterprises and individuals are helping, whether doing someone's shopping or delivering goods. It's a general social mobilization that really uplifts me. What also pleases me is that social awareness of the threat is very high. At least here on the coast, as I observe, everyone is staying home and staying off the streets.

I consider it very encouraging. I think we as entrepreneurs from the trade and services sector have managed to unite in these difficult moments, despite competing for better locations in shopping malls and competing with products. Within just seven days, we came together. Our federation has over 150 companies directly employing 200,000 people, and including suppliers, about a million. These are the positive elements that sometimes make you think: it's great that we're active and helping people.

Thank you very much.