Industry Approaches $1B Annual Sales
Think that e-cigarettes are just a fad?
Altria, the largest tobacco company in the US and maker of “Marlboro,” silenced any questions as to their timing on entry into the e-cigarette business.
“MarkTen” was announced at an investor meeting, which is a new brand expected to offer both disposable and rechargeable models.
Previously, another tobacco behemoth, Reynolds American discussed plans for distribution of “VUSE” — their new e-cigarette. Dan Delen, CEO of Reynolds American, stated that he is committed to making the product less harmful.
Adding to leader “Blu,” which was purchased by Lorillard for more than $100M — these brands demonstrate the potential of the e-cigarette business. According to a 2008 report conducted by the Centers for Disease Control (CDC.GOV) — big tobacco spent over $10 billion on marketing in 2008 alone (approximately $29,000,000 per DAY). The boom of the e-cigarette business is likely to continue, and Vape Holdings hopes to achieve substantial market share as new brands are developed and partnerships are formed.
Some information from this post was acquired from CBS News: