With the recent acquisition of Pagota Dodoni (Dodoni Icecream), VENETI is taking on another significant challenge in a complex environment. “In recent years, we have seen the deforestation of the country’s production units, coupled with a shortage of raw materials. In response, VENETI has strategically decided to invest in acquiring small quality product manufacturing companies while securing production raw materials from our country. We consider essential raw materials such as milk and oil,” says Panagiotis Monemvasiotis, the main shareholder and CEO of VENET
Monemvasiotis also sounds an alarm. “Seeing that EU legislation is increasingly moving towards technological food products, we believe a food crisis is imminent,” he states. He continues, “In response to this environment, we are creating new everyday concepts to address consumers’ nutritional needs. We will follow this approach with Dodoni stores: Everyone knows Dodoni is a Greek company historically associated with authenticity and excellent quality raw materials. Our goal is to offer real ice cream made from natural milk sourced from farms that respect their animals.”
The new investment will follow a conservative development policy, mainly due to the challenging market conditions, he explains. “We cannot be overly optimistic for the coming years, as the soaring prices of raw materials, machinery, and rents make it extremely difficult to open new shops in the bakery sector,” notes Monemvasiotis. He adds, “The cost of a store has doubled, and the future of the bakery and confectionery sector seems to be heading towards industrialization and supermarket distribution. This forces us to focus on small chain markets and partnerships with businesses that share our culture and vision around food.”
Furthermore, according to Monemvasiotis, the primary goal of the company in the current agreement is to remain on a stable course. “Given the international geopolitical situation and the fluidity of the situation in our country, our only goal is to maintain our strength,” he says. He lists three major challenges the company faces today: “The high costs of raw materials and machinery, and the severe lack of personnel. We can’t find workers to staff our stores.”
A significant problem for him is the bureaucratic constraints that hinder investment and business activity. It is notable that the historical “Jackson Hall” in Kolonaki will finally open soon under VENETI after nine years of “adventures.” Additionally, the company’s goal of moving production to a new factory in Oinophyta remains unfulfilled due to bureaucratic issues. “Today’s bureaucracy in our country is a way for the state to collect money,” comments Monemvasiotis. “Every service in our country is also a source of revenue for the state,” he adds.
Finally, the discussion turns to new consumption habits. “Unfortunately, these have changed for the worse because consumers today are heavily influenced by internet trends and social media,” he says. “Their lives are getting worse every day. The challenge from now on will be how to find food free from technological interference,” he concludes.
