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Transformations In Greece’s Wine Industry: A Market In Flux

by THEFUTURE.TEAM

January 29, 2025

Greece’s wine industry is undergoing significant shifts, driven by changing market dynamics and evolving company strategies. While the sector once featured a few dominant players, including Tsantalis, Kourtakis, and Boutari Winery, the landscape has shifted dramatically. Tsantalis is now in bankruptcy, and Boutari, though acquired by Greek-Swedish businessman Elias Georgiadis and a group of investors, including basketball star Giannis Antetokounmpo, has yet to regain its former market dominance.

With over 1,500 wineries across the country, Greece’s wine market remains fragmented. The 42 largest wineries had an estimated market value of €307.5 million in 2022, with a robust annual growth rate of 16.8% from 2019 to 2022. However, many leading companies, such as Ktima Biblia Chora, Ktima Gerovassiliou, and Ktima Alpha, are still relatively small, with annual sales ranging from €10-15 million.

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The biggest current players are Cavino and Kourtakis. Cavino, despite not having a strong established brand in Greece, stands as a significant player, with €36 million in sales in 2024, up from €32.56 million in 2023. The Anastasiou family-owned company made strides after gaining control of distribution for the sweet wine “Samos” at Lidl, following the shift in leadership from Kourtakis. It further strengthened its position with acquisitions, including the Nemion Estate in Nemea and the majority stake in the distillery of Anestis Babatzimopoulos.

Meanwhile, Kourtakis, once a leader in the Greek wine market, is currently up for sale. After facing a loss of €30 million from its previous Red Bull distribution partnership, Kourtakis struggled with declining sales, with 2024 revenue just above the €20 million mark. The company is burdened by debt and needs substantial investment to modernize its operations.

The disruption of Kourtakis’ dominance has allowed Cavino to rise to the forefront. In 2024, Cavino’s turnover surpassed that of Kourtakis, marking a significant shift in the competitive landscape. Hellenic Wine Cellars, another player in the industry, is seeking to strengthen its market position by expanding its portfolio. In 2023, it signed a deal with Katsaros Distillery, and it continues to maintain a strong presence in both domestic and international markets.

The Greek wine industry is witnessing consolidation as companies adjust to modern market demands, striving to compete both locally and globally. As the market continues to evolve, the quest for stronger, more resilient players capable of navigating an increasingly complex global wine market is more crucial than ever.

The Decline Of Smartwatches: A Turning Point In The Wearable Tech Industry

by THEFUTURE.TEAM

March 13, 2025

For the first time in history, the smartwatch market is facing a significant downturn. Shipments are expected to drop by 7% in 2024, marking a major shift in a segment that has been growing steadily for over a decade. A report by Counterpoint reveals that while Apple still holds the top spot, its dominance is being challenged by a surge from Chinese brands like Huawei, Xiaomi, and BBK. Even as the overall market struggles, some companies are thriving.

The Big Picture: Why Smartwatches Are Slowing Down

Apple’s flagship products have long been the driving force in the smartwatch market, but even the tech giant is feeling the pressure. The company’s shipments are projected to fall by 19% this year, though it will remain the market leader. Meanwhile, brands from China are capitalizing on the shift, with Huawei showing an impressive 35% growth in sales, driven by the booming domestic market and a broad range of offerings, including smartwatches for kids.

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Xiaomi, too, is experiencing remarkable success, with a staggering 135% increase in sales. In contrast, Samsung is seeing more modest growth, up 3%, thanks to its latest Galaxy Watch 7 and Galaxy Watch Ultra series.

While some companies are succeeding, the broader market is facing headwinds. The biggest factor behind the overall decline is the slowdown in India, where consumer demand for smartwatches has stagnated. The segment is suffering from a lack of innovation and fresh updates, leaving many consumers with little incentive to upgrade their devices. Add to that market saturation, and it’s clear why many users are content with their current models. The Chinese market, however, is bucking the trend, showing 6% growth in 2024.

A Glimpse Into The Future

Looking ahead, the smartwatch market may begin to recover in 2025, driven by the increasing integration of AI and advanced health monitoring tools. As these technologies evolve, the industry could see a resurgence in demand.

Huawei’s Remarkable Comeback

Huawei’s impressive performance in the smartwatch space signals a broader recovery for the company, which has been hit hard by US sanctions. Once the world’s largest smartphone maker, Huawei’s business was decimated when it lost access to advanced chips and Google’s Android operating system in 2019. But in China, Huawei has maintained its dominance, with its market share growing to 17% in 2024.

This resurgence was partly driven by the launch of the Mate 60 Pro, a smartphone featuring a 7-nanometer chip developed in China. Despite US sanctions, the device surprised many with its capabilities, a testament to China’s rising investment in domestic semiconductor production.

In February, Huawei also unveiled its Mate XT foldable smartphone, the world’s first device to fold in three directions. Running on HarmonyOS 4.2, Huawei’s proprietary operating system, the phone further demonstrates the company’s resilience and ability to innovate despite international challenges.

Huawei’s smartwatch offerings are also catching attention, particularly the Huawei Watch GT 5 Pro, which launched in September of last year. With a premium titanium alloy design, a high-resolution AMOLED display, and impressive health tracking features, the GT 5 Pro has become a standout in the market, available to both Android and iOS users.

A Brief History Of The Smartwatch Revolution

The smartwatch market has had its fair share of milestones, but the real breakthrough came in 2012 with the Pebble, a Kickstarter-funded project that raised over $10 million. Pebble introduced the world to smartphone integration, app downloads, and long battery life, becoming the first truly mass-market smartwatch.

In 2013, Samsung entered the game with the Galaxy Gear, marking its first attempt at wearable tech. But it was Apple’s entry in 2014 that truly set the industry on fire. The Apple Watch’s sleek design, integration with iOS, and emphasis on health and fitness catapulted it to the top of the market, establishing a standard that many other brands would try to follow.

By 2021, the smartwatch industry had grown to over $30 billion in revenue, with annual growth reaching 20%. Yet now, it finds itself at a crossroads, with innovation stagnating and market saturation taking a toll.