Greek Legend aims to sell 55,000 bottles of olive oil in Russia in 2025
MOSCOW. July 31 (Interfax) - Greek Legend I.K.E., which entered the Russian olive oil market this year, plans to sell about 55,000 bottles in the country by the end of 2025.
These are pilot shipments in preparation for the start of full-fledged sales in 2026, the head of Greek Legend Russia, Dmitry Vodyanoy told Interfax.
Authentic Products LLC, which was founded in 2024, holds the exclusive rights to represent the Greek Legend brand in Russia.
"We've been closely watching the Russian and CIS market for the past couple of years. In 2025 we decided to do a pilot launch. We tested lines, assessed the response and optimized the price model," Vodyanoy said.
As a result, about 30,000 bottles have been sold in Russia this year, which is about 15 tonnes of Extra Virgin olive oil (EVOO) from private farmers worth about 1.1 million euros in retail prices. This was oil pressed from the 2024 and 2025 harvests. "For us this is a starting stage, so it's pilot volumes at this point," Vodyanoy said.
He said there are plans to ship another 25,000 bottles, which is about 12.5 tonnes of oil, by the end of the year.
"We're taking a cautious approach to scaling. We're watching the dynamic of sales, not making excessive shipments so as to avoid surpluses and maintain the freshness of the oil. However, there is demand and it's stable. More than 35% of buyers make repeat orders," Vodyanoy said.
In 2026, there are plans to launch a line for the HoReCa segment and ship more than 150,000 bottles, or about 80 tonnes of EVOO from private farms, in the first half of the year, he said. "This will be our first year of large-scale, systematic sales," Vodyanoy said.
The Greek company ships several lines of products to Russia, including limited edition premium and select oil, and "family" oil (kolektiva) in the mid-priced segment intended for everyday use, he said.
"In the fall we plan to present oil in squeezable packaging. This will be a convenient and unusual format for the young audience," Vodyanoy said.
He said all the oil is produced and bottled in Greece by small and medium farms with which the company has a direct relationship.
"In the near future there are also plans to launch a cobranded product with a Russian maker of premium products," Vodyanoy said, adding that the details of this project will be disclosed later.
The company's products are available at farmers markets, a number of premium supermarkets and restaurants, as well as on online marketplaces and Greek Legend Russia's own online store.
Asked if there are any problems with logistics and payments, Vodyanoy said "there are no blocking factors, but settlements between the countries have begun to require more attention, particularly in terms of timeframes, approvals and documentary support."
"In general, the process is stable, we've just adapted to the new realities like many European producers working with the Russian market," he said.
Citing the estimates of the company and independent experts, he said the Russian olive oil market has been recovering in recent years and consumption is nearing the 2021 level of about 25,000-27,000 tonnes. However, a great deal of cheap oil of questionable quality has made it into the market, he said.
There is still a shortage of "honest farm products" on the Russian market, although the demand is there, he said.
"People are increasingly reading the ingredients, taking an interest in the origin of the oil, looking for genuine farm Extra Virgin. But on the Russian market there are virtually no systematically represented farm brands that are regularly imported, have a reputation and come with a transparent history," Vodyanoy said, adding that Greek Legend intends to fill this niche.
In 2023, a Greek farmers' alliance decided to formalize cooperation under the common brand Greek Legend in order to enter the international market. It now includes more than 350 farmers with about 125,000 trees on over 3 million square meters of farmland producing more than 1,000 tonnes of oil annually.
