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Inspirational Stories / Konstantinos Koronakis CEO & Managing Director

Inspirational Stories. ON Deck.

What are the prerequisites to keep a steady or even upward course amidst a financial crisis?
The current market conditions are truly challenging for all sectors of the economy. Aside from the phenomenon of the Greek economic crisis, we are living in a global environment of insecurity and uncertainty. Given the complete lack of bank financing from the domestic banking system and the general contempt for the stock market as a means to raise funds, I dare say that perhaps the most important factor for the survival of businesses, given the current state of affairs in Greece, is capital adequacy and financial liquidity. Having secured liquidity, companies will need to invest in the development of sales networks in Greece and abroad, with a clear orientation towards foreign markets. Those who fail to be internationally competitive are bound to lose the local market as well. Moreover, a prerequisite for our survival is the continuous and targeted investment in new technologies.

Does the crisis eventually create opportunities?
The crisis per se does not create opportunities. However, the strategic handling of the crisis can open new horizons to a company. Let us not forget that the fall of world trade has led to a major crisis in the shipping industry, the backbone of our customer base. As a result, remaining always faithful to the long-term, loyal relationships with our clients from the shipping, yachting, and sailing industry, we decided to further develop the yachting market for our company, enriching the already existing range of products produced in-house (mooring lines, especially racing ropes, pleasure sailing ropes, wire ropes, etc) with products that appeal to the same customers. Today, within less than one and a half years, we have developed a strong presence in the sector of motor and sailing boat equipment and we continue to add new products daily. Our main concern is the quality of these products, proper pricing and, above all, safety. We want these products to match the properties of what we manufacture, namely, intelligent design, durability and, of course, competitive prices. What’s more, being able to store large stock in our privately owned 10,000 m2 warehouse in the center of Piraeus, we can secure prompt delivery of these products to our clients as well as customization, where feasible.

Do you believe there will be a new business environment which will bring balance to the industry?
It is not easy to speak of a new business environment before our country can secure a steady taxation, banking and insurance framework. Until then, the few companies that still survive will have to outdo themselves in order to compete against companies operating in truly welcoming environments, with low tax rates, skilled personnel, a geographical advantage and stable working conditions. Currently, the biggest problem in Greece is not the flight of capital abroad, but the brain drain, the exodus of manpower -especially skilled executives- to Europe, the Middle East, the USA and even Australia.

What’s your strong point, your competitive advantage?
Despite the bleak economic climate of recent years, our company experiences strong growth and financial soundness. This is due to our company’s commitment to the product development and construction as well as the expertise and customer service offered before and after a sale. Years of experience have shown us that to consider and treat each client individually and suggest or even design products based on his own needs, when these needs are out of the ordinary, is a key competitive advantage. Our company is mainly engaged in the demanding industry of global shipping, but it has also won the yachting industry in Greece and abroad. This niche market has allowed us to make custom made mooring ropes that fully match the style of each newly constructed yacht, innovative shipyard or even mega yacht owner of a most unique aesthetics and taste. We were and continue to be the only rope manufacturer that contacts shipbuilders during the process of designing and studies the needs for safety and functional mooring. Innovation and customization in combination with our shipping knowhow help us differentiate from other companies in our industry.

What’s your motto?
Safety, innovation, commitment.