Blu Vape Receives100 Million Pounds Investment
Although in September, Blu e-cigarettes were interviewed by the FDA and requested to submit plans to reduce the use of their products by teenagers within 60 days.
However, the Empire brand continued to vigorously develop vape, and announced plans to invest another 100 million pounds in the first half of next year.
This may result in a slightly lower operating profit after the adjustment in the first half of the year, but it is believed to be offset by Imperial Tobacco in the second half of the year.
Product performance of NGP (next generation products) in Imperial Tobacco’s third quarter report. As of the third quarter of 2018, revenue was 30.524 billion pounds, up 0.9% year-on-year.
According to the company announcement, its net income increased by 2.1%, of which 1.2% came from the next generation products (NGP). The flagship product Blu E-cigarette contributed 200 million pounds, accounting for 2.6% of total tobacco and NGP revenue.
Empire brand CEO Alison Cooper said the company will focus on the vape market. “We have an excellent asset in this area, including the vape brand Blu. We also have independent innovation and leading science, all of which provide a very important opportunity for the Empire brand, so we will go all out,” In addition, she believes that most smokers in the company’s market prefer to switch to vape.
At present, while continuing to expand the Blu electronic cigarette product line, the company is also planning to launch the first HNB product Pulze in early 2019.
With the launch of Imperial Tobacco heat-not-burn products, the four major international tobacco giants will all participate in the competition of HNB markets.