The co-founder and president of Veritas: “We’ve always been driven by the common aim of changing the world through food”
“Companies must adopt a common aim. An aim that is experiential and shared by lots of people will breathe life into a company. Over the last 21 years, Veritas has been driven by the common aim of changing the world through food”, said Silvio Elias, co-founder and president of Veritas, at the latest session of Esade Matins.
This aim, explained Elias, has driven Veritas to be proactive and lead the way as regards important issues, such as adopting BPA-free sales receipts and eliminating plastic bags, years before they become mandatory. “The product is not always the main reason why a company is important”, he said.
During his talk, Elías announced to the audience the new reformulation of his company’s mission which can be summarized as ‘Veritas, you at your best.’ “When you choose Veritas, you choose the world you want you and your family to live in. When customers come to Veritas, it’s because they want to be at their best,” explained Elías.
The CEO outlined how Veritas has evolved since its creation in 2002. For the first six years, with some twelve stores, the focus was on growing demand. Then, from 2008 to 2012, in the throes of a global economic crisis, the firm achieved colossal growth as families reconsidered their priorities and consumer habits and connected with the Veritas mission.
During the company’s orchestration stage from 2012 to 2018, the brand took off, but the FMCG sector still paid little attention to Veritas. Finally, between 2018 and 2023, there was a boom in the purchase of organic products and new competitors emerged, despite the fact that “in Spain the consumption of organic products accounts for just 2.5%, compared to countries such as Austria and Germany, with more than 11%, and Denmark with 13%. So, there’s still great growth potential in this market,” emphasized Elías.
Elías reminded the audience that according to the EU target, 25% of production must be certified as organic by 2030. Production figures are moving in this direction, but “consumption must keep pace, otherwise it’s pointless.” In this respect, he has made demands for tax relief on consumption, in line with the pilot scheduled in Berlin to exonerate organic products from VAT.
Corporate values
Elias also shared the company’s core values. “Our company was established with the aim of being a leader in changing the world through food, i.e. being the first; being honest enough to take decisions that safeguard long-term resilience; being passionate (because this sector is dominated by very competent, big distributors, and Veritas does not have the size or resources to compete unless we can offset this with passion and proximity); being determined to make an impact by making things better than before; and being kind, because kindness is repaid by affection,” said Elías.
Veritas’ dealings with suppliers are not merely economic transactions: the firm seeks to forge solid long-term relationships. The company has also implemented measures such as rolling out corporate uniforms made of organic materials and – before the pandemic – purifying the air in its stores, an indication of its commitment to making a positive impact on the world through responsible consumption.
Esade Matins are symposiums where the leaders of foremost companies and institutions can address their own obstacles and challenges and share their thoughts about their careers in them. On this occasion, Silvio Elias, co-founder and president of Veritas, was joined by Daniel Sánchez, president of Esade Alumni and Alfred Vernis, professor in the Esade Department of Strategy and General Management.
