discover Diamanti

and brag about it!

1

Summary

PROBLEM

International honey deficit

Low quality

OPPORTUNITY

Increase in world imports & prices

Unbranded / marginalized product category

uniqueness

SOLUTION

High quality Greek honey

High production in Greece
Strong tradition & story
Endemic pine honey (only in Greece and Turkey)
Product with long shelf life
Minimum international presence of Greek honey

a product of (a) Greek origin, (b) top quality, (c) distinct/full taste, including pine, (d) priced at
market average to be accessible by (e) foodies, with (e) systematic marketing & branding.

We need
300,000 in equity
(200K startup & 100K inventory)

+
450,000 from loans & factoring
(primarily to cover growth cash flow for raw
materials)
in order to create a

company valued at 3.5M by Y5

and:
> become cash flow positive in Y1
> turn profit in Y2
> achieve sales of 7.3M in Y5
> achieve profit margin of 17% % in Y5

Product

Uniqueness
factor:

Offer to foodies a bragging worthy culinary experience with gourmet honey,

sourced from boutique/artisan Greek producers.
House
blend

Pine

Chest
nut

Spruce

Heather

Thyme

Orange

Single-variety honey

Foodies

Grocery /
supermarket chains

Hotels / Restaurants

Uses:

Raw
Breakfast / snack
Recipes
Sweetener

Sore Throats & Coughs

Hard to find/exotic/new,
great quality, tasteful,
engaging story, affordable
price, bragging rights

Trust & consistency,

economic, salable

Trust & consistency,

economic, tasteful,
brandable
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Market
Industry
Market
World
market

retail

$4B

$6-10B

Customers

Market domination
low prices, often with serious quality concerns

Grocery
stores /
Foodies

China

Macro Trends & Insights

Consumption - Production gap

Honey imports

Production doesnt catch up with

consumption / needs

In the past 20 years

Honey prices
In the past decade

32%

x2

Germany

Mexico

Hungary

67%

80%

Greeces exports
as % of world exports:

0.14%
Countries with highest honey deficit:
USA, Germany, Japan, UK, France.

Argentina

2008-2012 = 0.17%
2011-2012 = 0.26%

(1993-2012)

Market
Consumers
Extra mile: People who eat honey are willing to travel far and pay
premium for good honey quality. As this is a product that you only
need to purchase a few times per year, honey lovers are willing to go
the extra mile for acquiring good honey.

Limited options: Most stores have 5-10 brands, more than half of
which are of lower quality and less intense taste. Smaller grocery
stores carry local brands, which are of higher price and quality
(usually priced above average).

Full taste: Those who get used to a new, fuller taste rarely go back
to cheaper, less intense flavors, and are willing to pay some premium
to get what they want. Often, more than half of the honey brands in
stores are of lower quality, too liquid and less intense taste.

Market
Total addressable market & market penetration
275M households
(USA, EUR)

100%

80%

Total Addressable Market (TAM)

220M households that use honey

CUSTOMERS
125K households
by Y5
0.80% of target households,
0.05% of total households

TAM

7%

100%

Serviceable Addressable
Market (SAM)
15M households are foodies

CUSTOMERS

0.80%
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Competition
International
COMPETITION
> Local/small/artisan honey producers
> Large local packers
> International gourmet brands
> Private labels of supermarket chains

20 / kg

5-10 brands / retailer

average price (Europe, USA)

(fewer per jar size, rarely more than 10 in total)

Competing Brands
USA
Bee
Raw

Savannah Mieli
Bee
Thun

Stonewall
Kitchen

Europe
Langnese lune de miel helt

Local
producers

Big Island
Bees

Ames
Farm

Local
Rigoni
di Asiago producers

Belgium: Meli, Traay

Denmark: Biavler Gunner Borg, kologisk, Soften Bifarm, Svanso
Sweden: Ekologisk, lune de miel, Svensk,
Switzerland: Lilibiggs, M-budget & Migros private label, Miel
UK: Gale's, Littleover Apiary, Rowse, Tesco & Tesco Everyday value, Tiptree, Waitrose
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Germany: Bihofar, Breitsamer, Langnese

Competition
From Greece
Attiki
Est. 1928, Athens
$50/kg

Melitheon
Est. 2006, Leonidio
$XX/kg

Navarino Icons
Est. 2011, Athens
$50/kg

Eulogia
Est. 2012, New York
$70/kg

Family Biz
Est. 2013, Serifos
$60/kg

Theta Honey
Est. 2013, Lesvos
$60/kg

MELIN
Est. 2012, Evia
$100/kg

FoodCross
Est. 2014, Athens
$70/kg

Vasilissa Honey
Est. 2012, Evia
$50/kg

Meleagros
Est. XXXX, Larisa
$XX/kg

Agreco
Est. XXXX, Crete
$25/kg (in GR)

~$65 / kg
average price (USA)

Market focus:
Premium / luxury, Gift
It seems that their focus is on
selling in a few good stores, not
penetrating the mass market.
They also rarely support their
product with systematic
marketing. Their mindset seems
to be to have a story to say (we
are selling to store X in Paris).
However, even if all sell abroad,
the market is much bigger than
all of us, while all together will
raise the awareness of Greek
Honey.

Competition
Our competitive advantages & differentiation

Product
Pricing
Target
Group
Sales

Marketing

Financing

If you are interested in further discussing this project, please

contact Dimitris Diamantis at dimtris@discoverdiamanti.com.
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Product Market Fit

problems & solutions

PROBLEM
Global honey production falls short of
consumption needs.

The quality of the honey sold in many

cases is questionable
(in the US alone, there are estimates that 70%
of honey sold is not even honey!)

Current Solutions

Our solution(s)

Often honey is adulterated (to sugarwater) in order to meet demand. This

is very cheap, but on the other hand in
many cases is not even honey.
Artisan / local producers produce and
sell high quality honey in grocery
stores, but usually premium priced.

International markets have minimum

(almost no) access to Greek honey,
which is considered of great quality &
taste.

The majority of honey is sourced from low

cost countries (China, Argentina, Mexico),
either leading to very low retail price or
significant margins for the intermediaries.
The Greek honey that reaches international
markets is usually premium priced.

Co-packers who would be interested in

Greek honey have limited options for
collaborations.

Although big chains co-pack in Greece olive,

olive oil, etc, they rarely co-pack honey.
Even if they do, there are only a handful of
companies that can support this.

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Product Market Fit

what foodies want / what we offer

Foodies
They use food to define who they are in greater
society and tribe.
Thrill of the hunt and being the first to catch on to
new food trends.
Considered "authentic" and carry the most prestige
in the foodie world.
Eat healthier, but won't sacrifice taste.
Distinctive high-quality food experiences.
Desire for upscale food products.
Likely to pay a premium for what they view as new and
vibrant sensory experience.
Information junkies.

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Strategy
Go-to-market

Food expos
Community
building &
engagement
(ie. loyalty,
social media,
emails, etc)

Direct contact
with
supermarket
chains &
samples

In-store
promotions /
tastings

Experience,
engagement &
meaningful
connections

Beacons /
engagement
& experiential
marketing

Bloggers,
food press &
media

Co-branding

Subscription
boxes

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Strategy
Sales

Export

Retailer

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.

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Strategy
Financing

Start up
Year 1
Third-party
investment

Loan

Subsidy

Growth
Year 3

Year 2
Loan

Factoring
(if needed)

Down
Payments

Factoring
(if needed)

Down
Payments

Year 5

Year 4

Profit

Down
Payments

Profit

Down
Payments

Profit

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Risks

world

Difficult for the target audience to understand or care for our differences
(quality, taste, origin, story) without first tasting, which is expensive and slow.
Cheap alternatives from China, Argentina, Mexico.
Difficult for the target audience to understand or care for our differences
(quality, taste, origin, story) without first tasting, which is expensive and slow.
Honey is perceived as inherent good and healthy; all honeys are same.
Trend among foodies to buy locally (to their city) produced products.

Honey yield may vary, depending on weather conditions.

Collaboration and supply issues with producers.
Unstable political / economic environment in Greece.
Growth cash flow.

Greece

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Opportunities

Significant honey deficit internationally.

Consistent increase in global honey imports.
Honey products are unbranded (more or less internationally).
Significant quantity of honey sold internationally is of low quality.
world

Greece

Greek honey is almost non-existent in international market.

Beekeeping & honey production in Greece is increasing.
The few export attempts are made by small, artisan beekeeping farms with
limited capacity, international market know-how and willingness to cooperate
with other farms. Large companies focus primarily on domestic market, with few
efforts to penetrate other markets.
Consumers seem to like Greek honey when compared with local or other
imported honeys and once they taste it, they want more.

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What the future looks like?

Diamanti cities, households and hotels

Solidify a loyal customer base in the cities we are
selling, producing and selling more food products, so
that we have Diamanti households, hotels event
cities - consistently using 2+ Diamanti products (ie. fruit
preserves, olive oil, vinegar, etc).

Diamanti culinary parties

Create an Amway-style system, promoting Diamanti food
products via personal connections and culinary parties.
Participants will be able to access Diamanti products
delivered to their home (in retail price), which normally
wouldnt have access to.
*Before proceeding with this, the cannibalization issue will be further
discussed.
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Assumptions
Sales / Market penetration

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.
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Assumptions
Marketing

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.
19

Assumptions
Sales / Quantities

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.
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Assumptions
Shelf price

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.
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Financials
Income Statement

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.
22

Financials
Cash Flows Statement

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.
23

Financials
Investment, Break-Even and Company Value

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.
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Financials
Y1 Investment schedule

If you are interested in further discussing this project, please contact Dimitris
Diamantis at dimtris@discoverdiamanti.com.
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Contact:
Dimitris Diamantis
dimitris@discoverdiamanti.com | (+30) 6978 942878
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