Investment & Fund Management

Ellive, a company founded by Manolis Zacharioudakis and his sisters in early 2020, faced significant challenges as they entered the competitive olive oil market in Greece during the COVID-19 pandemic. With no prior business experience in this field, they aimed to offer high-quality olive oil characterized by low acidity and a delicate fruity aroma, which required careful soil management and agronomic expertise. However, the market was heavily focused on price, making it difficult for them to attract clients who valued quality over cost.

To navigate these challenges, Ellive secured an EU-guaranteed loan from Piraeus Bank, backed by the European Investment Fund (EIF) under the EU’s Investment Plan for Europe. This financial support allowed them to invest in digital marketing strategies, including targeted advertising and social media campaigns, which were crucial for expanding their client base during a time when many businesses were struggling.

Despite the difficulties, including a significant deal falling through, Ellive managed to secure sales in Greece, Cyprus, and Latvia. They are also planning to expand into the US, UK, and Serbia, although progress has been slower than anticipated due to the pandemic. Additionally, they are exploring new product lines, such as handmade traditional pasta, and developing agro-tourism initiatives to enhance their business model. The combination of strategic financial support and innovative marketing has positioned Ellive for growth in a challenging environment.