A Greek footwear brand that started in the markets of Monastiraki is now majority-owned by one of Europe's most recogniz...

A Greek footwear brand that started in the markets of Monastiraki is now majority-owned by one of Europe's most recognized shoe companies. Spanish shoemaker Camper acquired a 60% stake in Ancient Greek Sandals, with the founding team keeping management control and a clear five-year plan to double the business. Ancient Greek Sandals was founded about 15 years ago by Nikolas Minoglou and Christina Martini, with Yannis Vagenas joining later as a partner. The idea was straightforward: take the simple leather sandal sold in Athenian markets and turn it into a global fashion product. Today the company operates in roughly 40 countries, with about 90% of its revenue generated outside Greece. Camper approached the deal after an introduction through a mutual contact last autumn. Negotiations lasted roughly six months. Minoglou said he went directly to Camper without shopping the company to multiple investors, because the fit was obvious from the start. The financial terms left Minoglou and Martini with 18% each, down from 45% each, while Vagenas holds 4%, reduced from 10%. But the founders negotiated co-decision rights on key matters that could change the brand's identity, including where the sandals are manufactured. Minoglou made clear the Greek production stays put unless both sides agree otherwise. The company reported sales close to 8 million euros, with the United States accounting for around 35% of revenue, Europe at roughly 40%, and Greece at about 10%. Growth targets include Japan, South Korea, Mexico, and Australia as priority markets. A new flagship store on Amalias Avenue in Athens, opposite the National Garden, is already in the works, with locations planned at Elliniko and possibly in the US within the next two to three years. Minoglou was blunt about why they needed Camper: scaling a brand from one size to the next requires systems, retail networks, and e-commerce infrastructure that a small company simply does not have. Camper brings all of that without touching the creative direction. #AncientGreekSandals #GreekBusiness #MadeInGreece