This article is a part of Poland Unpacked. Weekly intelligence for decision-makers
Maciej Biesiada failed to take over the homeware retail chain during its restructuring process, but he did acquire the brand itself. He now plans to scale it rapidly, primarily online. He has already invested millions of złoty and is prepared to invest further. “It was an expensive but highly valuable lesson,” says Maciej Biesiada, referring to his efforts to rescue Duka.
The Swedish homeware brand Duka, long owned by Polish investors, has already secured a place in the history of domestic retail. As recently as April, it seemed that the closure of all its roughly 30 stores and the layoff of employees would mark the end of its story. Nothing could have been further from the truth.
The Biesiada Invest holding, active in the interior design sector, which failed to acquire and rescue the retail chain during its restructuring process, confirmed in May that it had purchased the trademark rights. It intends to leverage them to the fullest extent and is preparing an intensive expansion.
“The acquisition of the brand, the opening of two stores, and the sourcing of merchandise required an investment of several tens of millions of złoty (PLN). We are now facing similarly significant outlays to develop Duka further, although not through building a brick-and-mortar network, but by accelerating e-commerce. I remain willing to bear these costs, because I believe customers need this brand. Its potential is enormous and certainly did not disappear when the stores were closed. We can tap into it globally, and we want to launch cross-border sales as quickly as possible,” says Maciej Biesiada, CEO and founder of Biesiada Invest.
Duka is expected to become available in several European countries later this year.
Challenges of a Swedish brand with a long history
The Duka brand was created by Swedes in 1962. Building a nationwide chain of stores offering kitchenware and home furnishings did not exhaust their ambitions. In 1999, they opened their first store in Poland. Fourteen years later, the local company operating more than 30 stores was acquired by the Polish Grass Group.
The new owner turned Duka around, expanded the retail network (with plans for as many as 80 stores), and began establishing footholds abroad. In 2019, just before the outbreak of the COVID-19 pandemic, the company generated 112 million PLN (approx. 26 million EUR) in revenue, 16.7 million PLN (approx. 3.9 million EUR) in operating profit, and 11.6 million PLN (approx. 2.7 million EUR) in net profit. However, competition intensified and the financial situation deteriorated. In 2023, Poland’s Office of Competition and Consumer Protection (UOKiK) imposed a 1.6 million PLN (approx. 370,000 EUR) fine for the automatic addition of unwanted products to customers’ shopping carts.
Financial difficulties led the owner to initiate restructuring proceedings in 2024 and search for an investor. To cut costs, the chain – once operating more than 60 stores – was reduced by roughly half. At the beginning of 2025, it attracted the interest of the Biesiada Invest holding, which established a new entity, Duka Design.
Maciej Biesiada discussed the details of his involvement and ambitious plans at length with XYZ. However, a court decision this year effectively derailed them.
Court decision overturns the planned rescue strategy
The entrepreneur acted with the support of the restructuring administrator of Duka International (Rymarz Zdort Kubiczek Restructuring, RZKR) and the creditors’ committee. He was awaiting approval from the supervising judge for the sale of a going concern.
However, on February 9, the court dismissed the administrator’s motion. It argued, among other things, that the provision of Poland’s restructuring law cited by RZKR can only be applied to the disposal of “non-core assets of the debtor.” As a consequence, employees were dismissed and the stores were closed.
“I have read the court’s reasoning. It is not for me to assess it. I can only say that I was very surprised by the rejection of the restructuring administrator’s motion to sell the business on formal grounds. Nothing had previously indicated this outcome, which is why I remained fully engaged in the process until the very end,” says Maciej Biesiada.
His ambition is to build a holding company operating across various segments of the interior design market, where synergies would enable faster growth, stronger competitive advantages, and greater value for customers. His group, with revenues exceeding 200 million PLN (approx. 46 million EUR), already includes companies such as Novodom and Signal Meble.
“We entered the Duka project with this vision, investing capital, time, and the team’s expertise. We did so in good faith and with the belief that we were participating in a process that would lead to a stable rebuilding of the brand. Reality turned out differently,” says Maciej Biesiada.
Good to know
Issues affecting the administrator of Duka International
The situation of Duka International was further complicated by problems affecting its administrator – Rymarz Zdort Kubiczek Restructuring (RZKR), and in particular Marcin Kubiczek. He is one of the most recognizable insolvency practitioners in Poland, involved in major cases such as Getin Noble Bank and Idea Bank.
It was precisely due to identified irregularities in those proceedings that, on May 4, the Minister of Justice revoked Marcin Kubiczek’s license to act as a restructuring advisor.
The decision is a precautionary measure and does not determine the final outcome of the ongoing proceedings. It stems from findings of, among other things, serious “irregularities in the accounting and level of expenses in proceedings conducted by the advisor,” particularly in relation to legal services and PR expenditures. Marcin Kubiczek disputes the allegations and intends to appeal.
The minister’s decision is not an isolated case, but part of broader enforcement actions. The Ministry of Justice stresses that since 2024 it has been “actively” addressing irregularities in insolvency and restructuring proceedings. Supervisory measures have so far covered more than 100 restructuring advisors across 480 monitored cases – 121 since the beginning of 2026 alone. These actions have already resulted in the revocation of licenses from 25 advisors and the suspension of six others.
Early engagement was essential to save Duka
Why did the investor not wait for the court’s final decision before committing? He explains that early involvement was necessary to attempt to preserve the business in its existing form.
“If it had not been for my financial and operational support, which has already lasted more than a year, the store network would not have continued operating for so long, and jobs would have been preserved. Moreover, thanks to this, together with a team of more than a dozen people who joined us, we now have a solid foundation to relaunch the Duka brand,” says Maciej Biesiada.
He does not speculate on what will ultimately happen to Duka International’s assets and creditors. He does, however, confirm that he has secured the rights to the Duka brand and is preparing its rapid development under a new business model.
“It was a costly but very valuable lesson. It reinforced my belief that it is worth building a business based on assets over which one has full control,” says the founder of Biesiada Invest.
Two Novodom stores and a B2B strategy
The exclusive distributor of the Duka brand – responsible for managing newly imported merchandise – is Novodom, a company controlled by the holding. It is under this banner that two retail spaces opened in recent months: one in Warsaw’s Fabryka Norblina and the other in Gdynia’s Galeria Bałtycka, with a combined area of over 320 sq. m (approx. 3,440 sq. ft). Their initial sales performance suggests they may break even before the end of the year.
“However, each of them is a so-called concept store, whose role goes beyond sales alone. These are places to showcase new products, host events for loyal customers and brand ambassadors, and create dedicated zones with our partners, among other activities. At Fabryka Norblina, we also have a terrace where we present our outdoor collection and serve our own coffee,” says Maciej Biesiada.
Opened in December 2025 in Warsaw’s Fabryka Norblina, the Duka store – now operating under the Novodom brand following the rebranding – covers nearly 200 sq. m. It offers primarily kitchenware, but not exclusively. Photo: press materials/Novodom
He does not rule out expanding into additional locations in the coming months and says the company will assess the viability of this direction in the weeks ahead.
“A brick-and-mortar network must have a clear business rationale, not merely a sentimental one, as was the case in previous years. One of Duka’s development paths will also be strategic B2B partnerships. We are considering, among others, hotel chains, restaurants, and architects. We are already in talks with several entities, but it is too early for details. We have only been the owners of the brand’s trademark for two weeks,” says Maciej Biesiada.
Zdaniem eksperta
Expert's perspective
A promising market, a demanding project
Poles are increasingly willing to furnish their homes online, and the trend appears irreversible. We can also clearly see this in Focus Garden – a company in our portfolio focused on garden equipment. We are therefore entering the market at a favorable moment.
A specialized brand can certainly compete with platforms such as Allegro or Amazon. The condition is that it must offer something that no marketplace can replicate – such as a unique assortment, a distinctive aesthetic, its own character, and a coherent idea of how individual elements come together to create an attractive living space. In this context, marketplaces stop being a threat and instead become one of the distribution channels.
Allegro is excellent at selling products. It does not, however, sell a vision of what your home can look like. Brands that understand this – such as Kave Home or Sklum – are building strong positions across Europe. Financial investors are also recognizing this trend: Tresmares Capital invested in Kave Home back in 2019, Trilantic Europe entered Sklum in 2025, and we invested in Focus Garden in 2021. For private equity investors, this category is no longer a niche.
Duka already has brand recognition that would take years to build from scratch. That is a real advantage. But for its comeback to be convincing, it needs a fresh, attractive offer – one that gives customers a reason to visit specifically this brand. JYSK has recently shown that this is possible even in the mass-market segment: design-led thinking combined with attractive pricing can change brand perception very quickly.
Effective performance marketing and presence wherever customers shop are also essential – own e-commerce, marketplaces, cooperation with designers. The timing is favorable, but Duka is a demanding project. It is not a rescue, but a relaunch [a reintroduction to the market in a refreshed form – ed.].
E-commerce at the core of the new strategy
The entrepreneur sought to restore Duka’s availability as quickly as possible, so the brand was already introduced to Novodom’s online store. The results came as a positive surprise.
“Already in the first weekend, with no promotion whatsoever, we had several hundred orders. This shows the strength of the brand and the fact that it has not disappeared from customers’ awareness. I will make sure that never happens. I fought for this opportunity for over a year, and despite all the obstacles it was worth persisting to find a solution. From June, we will begin investing in communication and advertising for Duka,” says Maciej Biesiada.
In the new strategy, e-commerce is set to become the brand’s key sales channel. A new Duka online store will launch in June, and the brand’s offer will also appear on selected marketplace platforms.
“I admit I had concerns about whether consumers might have been discouraged by recent events from shopping directly with Duka. However, over the years it has built significant brand equity in the form of recognition and emotional proximity to customers. We need to earn their trust by delivering a strong shopping experience. That will be in place from day one – we guarantee it. Duka will once again be a stable and credible brand. We will maintain its timeless Scandinavian design,” says Maciej Biesiada.
EUR 150 million in revenue within a few years? Achievable
At this stage, the entrepreneur finds it difficult to speak about profitability, but he has very ambitious sales targets. He is confident that Duka can quickly surpass the revenue levels recorded in the brand’s best years under Duka International.
“The combination of the brand’s potential and our capabilities opens the door to revenues of up to 150 million PLN (approx. 35 million EUR) within a few years. The biggest challenge for Duka today is rebuilding customer trust. The brand has strong sales potential and a sizeable base of loyal customers – our task is to turn that into a scalable business model. Most importantly, instead of dealing with legal issues, we can finally focus on what matters most and what we do best: meeting customer needs,” says Maciej Biesiada.
He regrets that he was unable to achieve everything he had planned – following the liquidation of the retail network, he lost many prospective, high-value employees. However, he did manage to save the brand and gain know-how in managing a brick-and-mortar retail chain, which his group had not previously possessed.
“The process was risky and emotionally exhausting; it was a test of perseverance for me. It paid off, and I did not have a single moment of doubt. I believed – and still believe – in my team and in my vision for developing the group. The Duka project turned out to be more complex than I had expected. It affected other potential transactions and temporarily slowed the pace of building an ecosystem of homeware brands. However, no bridges have been burned. I am continuing discussions with interesting partners, and I hope this will soon lead to concrete outcomes,” says the CEO of Biesiada Invest.
Fireside chat
Duka has a chance for success, but it needs the right decisions
XYZ: How much potential has Duka built over years of presence in Poland?
Agnieszka Górnicka, CEO of Inquiry: It has established a very strong position in Polish consumers’ minds – as a good brand with interesting design, although relatively expensive by local standards. It is a brand primarily for people in large cities who care about interior design. It has released many successful collections that still decorate numerous Polish homes today. Until its difficulties began, it maintained truly solid quality. Its acquisition as a trademark alone definitely made sense.
Poles very much like Scandinavian design, and it would be worth for Duka to continue in this direction. That is what will help it stand out. Remaining a premium brand offers better chances of success than pursuing low prices. We are a growing, increasingly affluent society that is able to appreciate a compelling offer. No one, however, can stop the expansion of non-food discounters or compete with them on price. Trying to do so would be a dead end.
Is focusing on e-commerce the right direction for Duka, or should the new owner restore a large network of physical stores?
Physical stores, especially mono-brand ones, are a significant cost. After observing retail development in different parts of the world, I always come back to the view that such a network must offer real value to the customer. There needs to be a reason to come in person, buy something, and return. Physical retail is no longer just about placing goods on a shelf. It requires substantial effort and investment to attract consumers.
In today’s environment, focusing on e-commerce is the fastest way to stabilise the situation. In online retail, there is space for everyone—and certainly for Duka with its unique positioning and strong brand equity. However, it will not be easy, as balancing quality and price is difficult. The window to reach a more affluent customer is relatively narrow.
Are interior design chains still expanding rapidly in Poland?
The market is already quite saturated with this type of retail. A key achievement for industry players has been the creation of a trend modelled on “fast fashion.”
The home décor trade is driven by seasonal opportunities in a similar way to fashion. We are changing interior design more frequently than before. This applies across all price segments – from the lowest to premium. It is no coincidence that Zara and H&M have independently developed their own homeware divisions. Home furnishings have, in a sense, become a new branch of fashion.
Will rebuilding consumer trust after the turmoil surrounding the chain’s insolvency be a major challenge for the new owner?
Many brands have already successfully emerged from more serious crises. It is a matter of choosing the right communication strategy. Customers are willing to forgive a lot if the situation is presented honestly and any harm – such as improperly fulfilled orders – is compensated. The new owner of Duka can also benefit from the fact that they are saving a well-liked brand from disappearing from the market.
Key Takeaways
- Acquiring a cult brand with challenges. Founded in 1962, the Swedish homeware brand Duka opened its first store in Poland in 1999. Fourteen years later, a domestic investor took over the local company, which then operated more than 30 stores, and successfully turned it around. Subsequent financial difficulties led the owner to initiate restructuring proceedings in 2024, resulting, among other things, in a reduction of the store network by half to around 30 locations. In early 2025, Maciej Biesiada, CEO of the Biesiada Invest holding, became interested in the brand and established Duka Design. Through this vehicle, he became involved in efforts to rescue the brand while awaiting court approval for the sale of assets. In February 2026, the supervising judge did not grant approval, which led to the closure of stores and the termination of employment contracts. However, in May, Biesiada Invest succeeded in acquiring the Duka trademark rights.
- Novodom operates two former Duka stores. The exclusive distributor of the Duka brand is Novodom, a company controlled by the holding. Under this banner, two retail locations have been opened in recent months: in Warsaw’s Fabryka Norblina and Gdynia’s Galeria Bałtycka. Each operates as a so-called concept store, whose role goes beyond sales. These are spaces for presenting new collections, hosting events for loyal customers and brand ambassadors, and creating dedicated zones with partners, among other activities. The investor does not rule out expanding the brick-and-mortar network, although any such move must be justified on business grounds.
- A brand primarily driven by e-commerce. E-commerce will be the key sales channel in Duka’s new strategy. The brand’s offer has already appeared in Novodom’s online store. In June, Duka’s own e-commerce platform will be relaunched, and the brand will also be introduced to selected marketplace platforms. Still this year, its products are expected to become available in other European countries. The new owner believes that revenues of PLN 150m (approx. EUR 35m) can be achieved within a few years. “The process was risky and emotionally exhausting; it was a test of perseverance. It paid off, and I did not have a single moment of doubt,” says Maciej Biesiada, CEO and founder of Biesiada Invest.