“Flexibility and a personal approach are our strongest assets in a fast-changing world.”
Juraj Markovič, Managing Director, Mantha s.r.o.
Mantha s.r.o., the company behind the NaturFyt brand, has been a valued client of GrECo Slovakia since its early days. Despite operating in the highly competitive and fast-paced world of e-commerce retail – combined with the complexities of physical stores – Mantha has consistently demonstrated resilience, innovation, and a strong commitment to quality.
Martin Tkáč, General Manager at GrECo Slovakia, spoke with Juraj Markovič, Managing Director at Mantha to explore how the company has navigated risk, embraced innovation, and built a sustainable business in a challenging environment.
Early Challenges and Adaptations
Tkáč: What significant risks did you face as a young company in the early stages, and how did you overcome them?
Markovič: My wife and I took over NaturFyt in October 2018 after years in the corporate sector. From the outset, we faced fierce competition and significant challenges, prompting us to modernize – renovating retail spaces, setting up internal processes, updating our financial system, and launching a new e-shop to improve customer experience.
Shortly after, the COVID-19 pandemic hit. We swiftly adapted by selling through a pickup window and focusing on immune-supporting products like vitamins C, D, zinc, and selenium, even creating special corporate vitamin packages.
The war in Ukraine brought further difficulties, disrupting supply chains and causing more cautious customer behaviour, particularly as many key products came from Siberia.
Operating in Slovakia is challenging due to a lack of government support for small and medium-sized businesses, increased taxes, shifting VAT rates, and heavy bureaucracy. Many suppliers and competitors have shut down or gone bankrupt as a result.
Despite everything, we’ve stayed flexible, found creative solutions, and continued to grow, even becoming exclusive distributors of several foreign brands in Slovakia.
Innovative Risk Management Strategies
Tkáč: How does your approach to risk management differ from established companies, and what innovative strategies have you implemented?
Markovič: Unlike large, established companies, we place strong emphasis on a personal approach and tailored solutions for each customer. We are agile, able to make quick decisions, and respond rapidly to market changes. This helps considerably with adapting our risk strategies.
Furthermore, ongoing staff training ensures expert advice and quality service for our customers, reducing reputational risk, while investments in updated financial systems and a next-generation e-shop enhance efficiency and competitiveness. Developing our own products further strengthens our independence. Today, we offer one of the widest selections of natural dietary supplements in Bratislava, helping us stay ahead in a competitive market.
Essentially, by automating internal processes and focusing on quality control, we’re able to better manage risks and streamline operations.
Partnership with GrECo
Tkáč: How important are strong partnerships as part of your strategy?
Markovič: Strong partnerships are essential for our sustainability. GrECo is one such key partner. From the beginning of our business journey, we have worked with GrECo and relied on their expertise in selecting the right insurance solutions for our company, including product and vehicle insurance. After positive experiences on the business side, we also arranged private insurance through GrECo.
Company Evolution and Digital Transformation
Tkáč: How has your company evolved and adapted to a rapidly changing world since its inception?
Markovič: Since entering the company, it has undergone a significant transformation. We modernised our business processes, digitalized our sales, and launched a new e-commerce platform, allowing us to better respond to customer expectations.
We also expanded our physical presence – we now operate two retail stores in Bratislava and plan to open a third soon.
To ensure our business if futureproof, we closely monitor trends in health and nutrition and continuously adjust our product offerings. We also invest in automation, quality improvements, and product development to stay relevant and competitive in an ever-changing environment.
Future Risk Predictions and Strategies
Tkáč: What are your future risk predictions in your industry, and how do you plan to remain resilient and innovative in the face of these challenges?
We foresee challenges ahead, particularly from tighter regulations and increased taxes, which could impact small and medium businesses. Competition from major e-commerce platforms and rising price sensitivity are also pressing concerns. However, our commitment to expertise, quality service, and a personal approach will help us remain resilient. We have ambitious plans for further stability and innovation, and our partnership with GrECo will continue to be a key support.
About Mantha s.r.o.
Mantha s.r.o., based in Bratislava, Slovakia, is the company behind the NaturFyt brand – offering one of the widest selections of natural dietary supplements in the region. With a growing network of retail stores and a modernised e-commerce platform, Mantha combines personal service with innovation to meet the evolving needs of health-conscious consumers.
