How do the crisis and the market stagnation affect you? Did you have to change the way the company operates to reduce the effect of the more severe market conditions?
The only changes that I made affected the end users, not the company. There is not much to cut or reform as a company, because we have taken care from the outset to automate the production. The change of the economic environment made the consumers to look for smaller quantities and that was the reason to resort to the so-called downsizing that is to reduce the weight of the product unit, which the buyers like best. On the one hand, small packages are more popular in Greece now because people do not buy the volumes that they used to buy years ago. On the other hand, the consumers in the foreign markets prefer in general smaller packages. Thus, we reduced the volume of the product unit but increased the sales. Our turnover for 2009 is around 5.7 million euros and 6.9 million euros for 2010. So, our business is well despite the crisis.
What is the reason for this?
The products we selected and are essential in our production are not those that the consumer would give up. In other words, they are not those that would burden the family budget. Our pancakes have their fans. You can buy it once a month, but you will not give it up.
What are your expectations for the next five years?
I think we would witness a clearing of the market soon, not only in Greece but also in Europe. In recent years, much greater value was given to things that do not deserve it. The living standard of many people is high but they do not contribute to the productivity of the country. Property prices increased but it is not clear why. There are other similar examples, especially in Greece. In the past 10 years, people lived in a world different than that they could afford with a monthly salary. The luxury that surrounded us was artificial and the time has come to put an end to this.
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