From the time it was built, probably in the 14th century, until the first decades of the 20th century, the village played a central role in the regional economy. Falatados had a monopoly on the sale of cigarettes and was famous for its tanneries that supplied the entire island with leather. It was the main source for oil lanterns and household equipment, as well as a regional center for the production and processing of silk. The village name is a paraphrase of the Valatas family surname or a corrupt form of the word “vlation” meaning carmine cloth. Tip: The village aqueduct called “Paliamantra” was built between 1750 and 1850 and has an uncommon cleaning mechanism.