In conversation with Alexandros Papadopoulos of Éteo (Exclusive Interview)

What motivated you to launch such a luxurious product line based on the finest extra virgin olive oil? 

The motivation to launch Éteo originated from our Greek heritage and our passion for olive oil. More than 2500 years ago, olive oil was considered a blessing and the most precious food in civilization. It was often referred to as “liquid gold” because of its nutritional benefits. From the very beginning, what we were adamant about was not making the mistake of creating just another olive oil brand without a special story, targeting the masses.

Our vision was to encapsulate very fine certified organic quality “liquid gold” in a handmade vessel that pays homage to the traditions of our Hellenic forefathers, whilst also standing out as a work of art. We wanted people to enjoy not only the precious olive oil but also the bottle itself, which symbolizes the rapidly declining art of craftsmanship. Thus, the Éteo – Drops of Blessing product line was born.

Why Éteo? What is the story behind the name? 

In his renowned work Iliad, the Ancient Greek poet Homer, wrote about the island of Crete, describing it as the epitome of grandeur and purity. Our brand name – Éteo draws its inspiration directly from this origin. This ancient Greek word stands for “genuine” or “pure”. By choosing this name, we wanted to embody the deep roots of our Greek tradition as well as our unwavering commitment to producing a luxury product that is truly authentic to its core. From our limited olive oil production to our meticulously handmade porcelain bottles topped with olive wood caps, every finished Éteo vessel represents a small piece of our Greek heritage.

Can you tell us more about Éteo’s craftsmanship process? 

Our age-old trees, produce the Koroneiki variety olives, renowned for their rich and robust olive oil flavor. The harvesting process is critical not just because it needs to occur at the perfect time when olives are most ripe, but also due to its direct impact on the extraction process. Our extraction process -always cold press first- is handled with extreme care so that our olive oil maintains its superb flavor. Every Éteo vintage undergoes a rigorous chemical analysis to ensure extremely low acidity, a high polyphenol count, and balanced levels of pepperiness, bitterness, and fruitiness.

Every Éteo bottle is handmade from start to finish using the finest ceramic – porcelain, combined with olive wood caps. We produce our porcelain using the slip casting method to achieve the perfect shape. Our artisans then use a handcrafted soft-sculpture technique to shape our Éteo vase, which is then glazed. The final step is the decoration of the glazed vase which is perhaps the most difficult and time-consuming step as delicate craftsmanship is required. Our artisans apply the decal figures to each vase individually.

The olive wood caps come from old olive trees, some as old as 500 years, after they have been pruned. We apply the woodturning process to create the initial space of our caps before carving them. Carving is a challenging and perhaps the most traditional woodworking technique in Greece. Each finished olive wood cap is then polished to achieve the perfect shine. 

What are your brand values and why are they important to you?

Our Greek heritage, passion for unparalleled quality, our unwavering commitment to craftsmanship and an endless pursuit of excellence are the values which guide us every day. Éteo was founded on the basis of providing our clients with a genuine product that is both of the finest quality and timeless. It is through these values that we were able to forge partnerships with some of the world’s most prestigious luxury brands. They are a constant reminder that luxury takes time and quality should never be compromised for the sake of profitability. We have, and always will be, a brand driven by quality, not quantity.

Tell us more about the profile of your customer. How knowledgeable are they about the olive oil industry? And how does your product respond to their needs? 

Our client base spans from private clients, collectors, and renowned chefs to luxury hospitality brands and corporations. The health benefits of olive oil are undeniable, as numerous clinical studies have shown, and with the industry gaining momentum, an increasingly number of people are becoming knowledgeable. However, many of our clients acquire Éteo not only for the fine quality and health benefits, but also because it serves a bigger purpose and addresses specific needs they have.

For instance, some of the high-end restaurants and hotels we have partnered with, have added Éteo to their dining menus. Guests can order a bottle, use it during their meal and take it home afterwards. This innovative concept creates a new source of revenue for them, further differentiating their brand and elevating their guests’ dining experience. Our corporate clients often select Éteo for their gifting needs since many of them look for unique items to present their discerning clients. As you can see, our uniqueness has enabled us to create value for clients beyond the traditional use of olive oil.

Are your sales B2B, B2C or both? 

We primarily operate as a B2B brand, with a focus on expanding our footprint in the luxury hospitality and corporate gifting sectors. We neither sell Éteo online nor directly to individual consumers but exclusively through our authorized retailer network, client referrals and corporate gifting channels. Given that every Éteo bottle is entirely handmade and our production capacity is limited, we want to grow organically to ensure quality is never compromised. As our presence continues to grow, we may consider introducing a direct B2C channel, but not in the immediate future.

What is the most effective way of communicating and creating awareness? 

Being customer centric is vital to our success. Éteo is not just a product but a memorable experience. We want our clients to be deeply connected to the very essence of our brand. For instance, one of our key initiative this year has been hosting exclusive Éteo tastings with our hospitality partners. These events allow guests to learn about our story, discover who we are and understand what makes us unique. Moreover, by partnering with other luxury brands, we can create synergies, expand our clientele, and drive brand loyalty and awareness. Our online presence is also rapidly growing as we actively engage on our Facebook , Instagram pages and website.

 

Which are the key markets you are targeting? 

We are continuously expanding our presence in North America, particularly in high end markets like New York, Miami, and Los Angeles. These areas have a tremendously diverse cultural profile and an ever-growing high end hospitality sector. Beyond North America, we are looking to expand into APJ as luxury spending in Asia is at an all time high. Since COVID-19 restrictions were lifted, the travel and hospitality industries have taken off, allowing people to seek memorable experiences like never before.

Are there similar products in the market? If so, what do they lack? 

The global olive oil industry is vast and diverse, with several new companies entering the market every year. The price of olive oil is currently at an all-time high due to the unprecedented droughts in Italy and Spain, which have severely impacted production and global supply. While many olive oils try to position themselves as premium brands, none that we have seen can claim luxury as Éteo does.

Olive oil has historically been considered a volume-based commodity focused on medium to low quality with no competitive differentiation other than the origin. Most brands simply highlight their olive oil’s story and follow the same path to market as their competitors, with price being their main selling point. While this approach could work for volume driven brands, it falls short in the premium and luxury sectors, where creating a cult does not depend on price. 

What are your top priorities for the short and long term?

In the short term, my priorities are to continue growing our client base and forging new partnerships. There is significant opportunity to capture market share in key markets, particularly since we have only been present in the US for less than two years. Client satisfaction is also at the top of my list, given that we are still in our early stages. I want to guarantee that every one of our clients has an exceptional Éteo experience. The most rewarding part of my job is receiving overwhelmingly positive feedback from our clients. In the long term, I want us to extend our brand beyond olive oil and expand into other categories, all while maintaining our commitment to our heritage, fine quality and product excellence.

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