Nicos Mesolongitis: OJO is focusing on consolidation and bringing about change through AI

OJO has welcomed 2024 with an abundance of new products and the development of its online store, in collaboration with specialised companies in the field.

Speaking to InBusinessNews as part of its IN Business Forecasting 2024 series, the founder of OJO Sunglasses Company Ltd, Nicos Mesolongitis expressed the company's readiness to use AI tools to bring about change in the online sector.

At the same time, he called on companies to consider limiting significant growth and instead focus on consolidation, improving existing conditions and, above all, on more efficient staff training, as well as on putting focus on the controlled development of technology, production and, by extension, product stocks.

What do you consider to be the biggest and most difficult challenges that the Cypriot economy will have to face?

Leaving behind a particularly changing 2023, we are ready to welcome 2024, albeit unfortunately not with the best omens. We will have great challenges to face in 2024 such as the unstable economic environment with the continued increase in inflationary pressures, high interest rates and also changing and unpredictable geopolitical developments.

Unfortunately, all of the above exogenous factors have a very negative effect mainly on small and medium-sized businesses, i.e. 98% of Cypriot businesses.

Perhaps for 2024 we as companies should limit large developments and focus on improving existing ones and above all on more efficient staff training, the controlled development of technology, production and by extension our stocks.

"We can make a difference"

What do you think the course of the sector in which you operate will be in 2024?

On the other side of the coin, in such conditions there are also always opportunities. Challenges, whether they are for new or existing entrepreneurs, can perhaps more easily but methodically and purposefully develop new opportunities for the economy.

For our particular country, I believe that anything that can be developed beyond the average level has a high probability of success. Certainly this success requires specialised knowledge, suitably trained personnel and above all innovation in production, without intermediaries either in products or services.

In a Cyprus where 67% of our young people have higher level academic knowledge combined with experienced existing entrepreneurs, we can make a difference.

Bringing about change with AI tools

What are your organisation's plans/strategy for 2024? Should we expect new products/services/developments and your further establishment in the market? Will it be a year of growth/expansion or maintaining your existing market position? Can you tell us about any of your plans in more detail?
In the professional field, OJO is ready to welcome 2024 with a multitude of new products, but also technologies derived from our many years of experience in sunglasses and optical sector.

We will have particular growth in our online store www.ojosunglasses.com in collaboration with specialised companies in the field. We are ready to bring about change in the online domain as well, using AI tools.

(Source: InBusinessNews)