From crisis to success: How Greeks won because they had 'nothing to lose'

From the sweeping coastlines of Kalamata to the sun-scorched island of Crete, Greece's olive groves have been thriving in the Mediterranean heat for thousands of years.

 

The tiny green fruits are harvested before autumn sets in, and cold pressed to deliver extra virgin olive oil, regarded as an elixir of life. The Greeks believe this oil is the world's best.

But the world, Greek brothers Thomas and George Douzis realized, did not.

So, in 2007, the Douzis brothers developed a plan to take Greek produce to the global stage. It was an idea that would also, inadvertently, make the Douzis brothers early examples of the country's grass-roots survival strategy.

The Douzis, now aged 27 and 30, grew up in coastal town of Thessaloniki, where their grandfather Thomas owned a grocery store, selling everyday products such as olive oil or honey to locals.

Their father, Thodoris, was also in the food business, working for Kellogg's before setting up his own food distribution company.

The brothers were raised on Greek delicacies, but as they grew older they realized the food they loved had a global image problem.

Take Greek olive oil's reputation around the world. According to market research, shoppers preferred Italian and Spanish oils, despite 80% of Greek olive oil being extra virgin, compared to 45% in Italy.

The Douzis had found their mission.

"The perception abroad is that Greek oil is the cheap one. Bottom of the shelves," Thomas Douzis says.

As a marketing graduate, he had a plan to change that image -- and a lot more. The brothers would find the best independent producers in the country and take their products global, with a guarantee of quality. Greek olive oil, honey and other delicacies were in their sights.

The brothers chose the brand Ergon -- the Greek word for project -- and set out to find the country's best produce.

In the tiny Kolymvary region of Western Crete, they found the olive oil they wanted to promote. It came from olives whose history on the island dated back to the Venetian occupation, 800 years ago.

The caliber was so high the area had been granted special status from the European Union. Pressed in low temperatures and strictly by mechanical means, the region's oil was among the purest in the world. It got the Ergon approval.

The brothers were also spending hours in labs testing Greek's best honey for purity and sugar content -- choosing a blend which they called "Bee's project" to finally launch Ergon.

The brand was in the market. But it was headed straight into an economic storm.