Nikos Cakes and Vanilla Owners Map Family Succession Playbook

A failed push into "modern" Greek cakes cost Nikos Cakes a "huge decline" in sales — and taught its second-generation owner the limits of chasing trends. Yianni Poupouzas shared that reversal on Thursday evening at a HACCI event in Oakleigh, where he and Tia Spanos Tsonis, owner of Vanilla, discussed succession in Greek family businesses before an audience of around 50 people.

The panel, titled "FAMILY. BUSINESS. SUCCESSION. GET IT RIGHT. Is your family ready? Is your business ready?", was facilitated by HACCI chairperson Fotini Kypraios. Both businesses are now run by the children of their founders.

Nikos Cakes opened in Oakleigh in 1987, founded by Nick and Tass Poupouzas. Vanilla opened on Eaton Mall in August 2008 by the late Thanasi Spanos and his wife Helen. Both have become institutions in Melbourne's Greek community.

A costly identity check

Poupouzas told the room that when Nikos Cakes opened its second location in Fairfield in 2019 — its first expansion northside after 30 years in Oakleigh — he tried "'modern' Greek cakes" and "'modern' Greek food."

"It was a disaster. We saw a huge decline. I thought that was being relevant and being up to date, and I had to have a reality check and ask, 'Who are we as a business?' and 'What is it that we do?' In the end, once you understand that, and you know your identity, and understand that that's why people come to you — you can stay relevant as long as you are authentic," he said.

He dismissed trend-chasing as a strategy. "A lot of people think of relevance as being on trend all the time — that means you're chasing your tail," Poupouzas said.

Spanos Tsonis located relevance elsewhere: in staff and service. Vanilla employs people aged up to 72, from a diversity of ethnicities, she said — something her late father seeded into the business.

"We're blessed that we have people with us young old to 72 years old, and representing a diversity of ethnicities. People in our business — across the generations — turn to each other," she said.

She rejected influencer-driven marketing outright. "To stay relevant in hospitality, forget TikTok and Instagram, all the socials. Focus on your people and your brand. Focus on giving the best service, and the best of yourself that you can."

Silence is not harmony

Succession dominated questions from the floor. Poupouzas returned repeatedly to one word: clarity, and the need to seek it "sooner rather than later."

"You can never start having these discussions too early. Speaking about them is incredibly important, because in a lot of families there may be taboos and things that don't get spoken about. Not in our family, because we're open with each other," he said.

The danger, he warned, is silence being mistaken for agreement. "People may be embarrassed, or they may just see it as, 'oh, eventually this will come my way,' or 'things will be okay.' Silence doesn't always mean harmony. A lot of people have underlying expectations that they don't voice," Poupouzas said.

Spanos Tsonis framed succession through virtue, arguing that love operates as a structural force rather than a soft one. "Love for family, respect for the people you work with, and for customers" was essential, she said. That includes letting go.

"You can't force someone — the next generation, or a member of the family — to join the business. Everyone has different skills and qualities, and all are important. If you want to go and study philosophy, or art — good, that is fantastic. You may also do that and come back into the business in another way," she said.

She added: "Hindsight is always clarity. The issue is to learn, so you do not have to always resort to hindsight."

Foundations on the horizon?

The next-generation credentials extend beyond the bakery counter. Spanos Tsonis is a hospitality executive and film producer; "Brando with a Glass Eye," directed by her partner Antonis Tsonis and produced by her, was released in 2025.

Asked by Neos Kosmos whether a Spanos Tsonis or Poupouzas foundation — working in culture, the arts, health and social causes, in the manner of the Myers or Gandel families — could follow, both took the question seriously.

Poupouzas called the comparison to "those esteemed families" flattering and said they may need more time, but "we aspire to it."

"They are great examples of families that have been incredibly successful in business. We all need examples like that to aspire to. When you've got great examples like that, you can't help but shoot for the stars. Absolutely," he said.

Spanos Tsonis went further, turning to the room: "You know what, guys? This is it. This is where conversations with other families and other people in family businesses inspire you. Where you start to be open. I am inspired."

"It's too easy to think, 'oh my god, I'm in this family business and it's so hard' — but when you start speaking to others in family businesses, there are commonalities. Common struggles and common successes. Let's be open. I love philanthropy and I've always wanted to open more. It's about having honest conversations, and things that stimulate and spark new things in our world. It's amazing. I love it. You've all heard it here tonight. It's done," she said of the foundation idea.

For now, both owners are weighing new venues and new markets — with foundations carrying their names into the broader cultural life of Australia as a live option rather than a closed question.