Kaviari: Pure Caviar

Formerly served at the court of Russia at major imperial banquets, caviar from wild sturgeon has long been viewed as a luxury food reserved for a sumptuous elite. However, since the ban on wild fishing in the Caspian Sea in 2006, nearly 90% of the caviar consumed worldwide now came from farms. Owing to the diversity of caviar from different sturgeon species, the value proposition offered by the major companies specializing in fine and luxury grocery products, and more recently food brands in supermarkets, is now at the heart of a consumer perception battle. On the one side, there was the producer, who held the secrets of sturgeon farming and caviar production, and on the other, the "trader-affineur" (refiner), experienced in global caviar selection and the intelligent art of "affinage". This meant that marketing had an important role to play in the positioning and buying decisions of this iconic product. Karin Nebot, 43, CEO and shareholder of Kaviar, located in the heart of Paris, put the case for the legitimacy of the "trader-affineur": "Caviar is now at a turning point. More and more quantities are produced, and more and more farmers want to become caviar traders." At the approach of the 2015-2016 holiday season, Nebot questioned what Kaviari ought to do in order to preserve its competitive advantage: "Trade relations between professionals and consumers differ significantly and are sometimes even complimentary. The trader has a head start, but what is our ‘business model' for the future?" Questions about the future of the trader/merchant model abound for Nebot. Two types of short-term strategies emerge in such a threatening competitive environment: one - extend the luxury segment or open up to a wider public. In other words, what should Kaviari do to preserve its competitive advantage, and what would the role be for the trader/merchant in a global and ever-changing market?