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Category: Business & Finance

  • Luxembourg One of the Gateways China Uses to Flood EU With E-Cigs

    Luxembourg One of the Gateways China Uses to Flood EU With E-Cigs

    A new study by the Fraunhofer Institute calls Luxembourg one of four “gateway countries” that China uses to saturate the grey and black markets of Europe with e-cigarettes, along with Germany, Belgium, and the Netherlands. Uwe Veres-Homm, head of risk and location analysis at Fraunhofer IIS, said more than 90% of e-cigarettes in the EU originate from China’s “global epicenter,” Shenzhen, where regulations for exported products are much more lenient than those staying in China. Regulatory import loopholes allow products that are legal, illegal, and/or improperly taxed and labeled to flood together, and once processed by customs in Luxembourg, they are considered EU goods and can enter the market elsewhere, he said.

    The study found that half of the e-cigarettes consumed in Luxembourg come from “irregular sources,” and said Luxembourg is attractive not only because of its strategic location, but also because it has low e-liquid taxes (€0.10/ml).

    The study concluded that banning e-cigarettes would not eliminate the grey and black markets and suggested harmonized EU standards and involving Chinese manufacturers to comply with EU laws as the products are being made.

  • KT&G Streamlines Heated Tobacco Stick Portfolio

    KT&G Streamlines Heated Tobacco Stick Portfolio

    KT&G has announced the integration of its cigarette-type e-cigarette “Lil Able” stick lineup under a unified “AIIM” brand, in a move aimed at improving product clarity and consumer accessibility. The consolidation brings together existing variants — including Real, Granula, and Vaporstick — into a more streamlined structure, enabling users to more easily navigate and select products within the portfolio.

    Under the reorganization, a total of 11 products will be incorporated into the AIIM range, complemented by four “RAIIM” variants focused on delivering a more natural tobacco flavor, bringing the total Lil Able-compatible lineup to 15 products. KT&G said the transition will be rolled out gradually as existing inventory is depleted, adding that the brand integration reflects its strategy to align product offerings more closely with evolving consumer preferences and simplify the user experience.

  • Rising Costs Hurt Smoore’s Profits Despite Strong Revenue Growth

    Rising Costs Hurt Smoore’s Profits Despite Strong Revenue Growth

    Yesterday (March 17), Smoore International reported 2025 revenue of RMB 14.3 billion ($2.1 billion), up 20.8% year-on-year, driven primarily by strong growth in its enterprise (B2B) segment, which accounted for nearly 80% of total sales. Gross profit rose to RMB 4.9 billion ($729 million), but rising expenses dragged down its profitability, with its net profit for the year falling 18.5% to RMB 1.1 billion ($159 million). Its gross margin declined to 34.1% from 37.4% in 2024.

    Regionally, Europe and other international markets remained the company’s largest revenue drivers, followed by the U.S., with China contributing a relatively small share. The company ended the year with RMB 7.3 billion ($1.1 billion) in cash and proposed a final dividend of HK 0.20 ($0.026) per share.

    Today (March 18), Smoore’s shares on the Stock Exchange of Hong Kong dropped 18% in early trading before rebounding, opening at HK 12.08 ($1.57) before falling to HK 9.94 ($1.29) and closing at HK 11.90 ($1.55). The stock is down 45% over the past six months, according to Bamboo Works.

  • Riot Labs Completes Flavor Rollout

    Riot Labs Completes Flavor Rollout

    Riot Labs unveiled the full lineup of its new Riot X range, expanding on last month’s launch of its Strawberry Orange Crush flavor. The updated collection introduces five bold new blends: Apple Sour Strawberry, Blueberry Blackberry Raspberry, Cherry Berry Crush, Cherry Peach Apple, and Blueberry Strawberry Watermelon, all developed in Riot’s U.K.-based, award-winning lab.

    Designed to support smokers on their cessation journey, Riot X combines Riot Labs’ signature daring flavors with “disruptive customer engagement.” Sales Director Matt Crann described the range as “loud and unapologetic,” intended for “late nights, loud tunes, and people who don’t do boring.” The products are available in 5mg, 10mg, and 20mg nicotine strengths, priced from £3.99, and are now on sale online and in vape stores across the U.K.

  • PMI to Launch New Business Solutions Center, Creating 180 Jobs in Tampa Bay Area

    PMI to Launch New Business Solutions Center, Creating 180 Jobs in Tampa Bay Area

    March 17, 2026 — Today, Philip Morris International’s U.S. businesses (“PMI U.S.”) announced an investment of approximately $50 million in a new Business Solutions Center in Tampa, Florida. The Center will create approximately 180 direct and indirect high-skilled jobs and represents a pivotal expansion of PMI U.S. operations, consolidating key functions—business solutions, distribution operations, and customer service—into a single hub. This investment is designed to enhance operational efficiency across these functions and underscores PMI U.S.’s commitment to supporting Florida’s business community and broader economic development.

    “Florida has proven to be an exceptional partner—offering a business-friendly environment, robust infrastructure, and a deep pool of highly skilled talent,” said Stacey Kennedy, CEO of PMI U.S. “Our new Business Solutions Center underscores PMI U.S.’s long-term commitment to investing in American communities and the people who power them. It reflects our determination to build strong, local teams across the country to advance our mission of delivering a smoke‑free America. The Tampa Bay area, in particular, stands out for its dynamic culture and quality of life—both essential to attracting and retaining the talented workforce that drives our innovation.”

    The new Business Solutions Center will provide career opportunities across a wide range of skill levels, including finance, data engineering and analytics, information technology, project management, sales enablement, talent acquisition, people operations, and more. Career opportunities and benefits will be shared at uspmi.com/en/careers/.

    “Philip Morris International’s decision to establish a new office here is a strong vote of confidence in our region’s dynamic economy, talented workforce, and thriving business environment,” said Dr. Bob Rohrlack, Tampa Bay Chamber President and CEO. “Investments like these contribute to the continued economic growth and global competitiveness of the Tampa Bay area. We look forward to seeing PMI U.S. become an active member of our business community and a valued partner in shaping the region’s future.”

    Today’s announced investment includes capital expenditures for the build‑out of the new workspace and PMI U.S.’s 10‑year lease commitment for the site. Since 2022, PMI U.S. has invested more than $1 billion in American manufacturing, operational capabilities and people costs (through September 30, 2025) as it continues to grow its workforce of more than 3,000 employees. This includes a $600 million commitment to build a new ZYN nicotine pouch manufacturing facility in Aurora, CO; a $232 million expansion of its existing ZYN production site in Owensboro, KY; and more than $37 million to support expanded operations in its Wilson, NC manufacturing facility.

    “Philip Morris International U.S.’s corporate philanthropy and community investment practices make the organization a perfect fit for Tampa,” said Craig J. Richard, CEcD, president and CEO of the Tampa Bay Economic Development Council. “When we recruit companies like PMI U.S. to our market, we engage their teams with business leaders whose companies have not only created jobs here but have invested in making Tampa Bay an even better place to live, work and raise a family. We look forward to assisting the PMI U.S. team as they settle into their Westshore offices and supporting their success in Hillsborough County.” 

    In addition to these major capital investments, PMI U.S. contributes meaningfully to communities across the country through philanthropy and civic partnerships. Since 2022, the company has provided approximately $35 million to national and local charities—supporting veterans organizations, economic empowerment initiatives, and disaster relief efforts—and recently made donations to the Wounded Veterans Relief Fund, Tampa Bay Thrives, Urban League of Broward County, Tampa Bay Area Chiefs of Police Foundation, and University of Florida’s Veterans and Servicemembers Legal Clinic, all nonprofits in Florida. These efforts represent only a portion of PMI U.S.’s broader commitment to America, which includes creating hundreds of jobs, constructing new and expanded manufacturing facilities, and engaging thousands of suppliers and vendors nationwide.

    PMI U.S.’s new Business Solutions Center will be located at Highwoods Bay Center in the Westshore Business District at 5426 Bay Center Drive in Tampa, Florida.

  • Plastic-Free Packaging Developed for Snus Cans

    Plastic-Free Packaging Developed for Snus Cans

    PulPac, Future Materials Sweden, and Yoik AB have developed a “dry molded fiber” snus can for Yoik’s Helwit brand at PulPac’s R&D Lab, marking the brand’s entry into the smokeless tobacco segment, a market traditionally dominated by plastic packaging. The fiber-based can has been engineered to meet the functional demands of high-volume snus packaging, including durability, consistent fit, and premium feel, and is currently undergoing structured product validation and trials on Yoik’s filling line.

    In parallel, Future Materials signed a license agreement with PulPac to commercialize dry-molded fiber products, with plans underway to industrialize, scale production, and optimize tooling to enable full-scale manufacturing once validation milestones are achieved.

  • BAT Announces May 2026 Dividend  

    BAT Announces May 2026 Dividend  

    British American Tobacco p.l.c. announced its interim dividend for the year ended December 31, 2025, payable in four quarterly instalments. The first payment, the May Dividend, of 61.26p ($0.81) per ordinary share, will be paid on May 7 to shareholders on the U.K. main register and the South Africa branch register as of March 27. For South African branch shareholders, the dividend is payable in rand at a rate of £1 = R22.3938, resulting in a gross dividend of 1,371.84 SA cents per share, with 20% dividends tax withheld, leaving a net payment of 1,097.48 SA cents per share. The dividend is considered a foreign dividend for South African tax purposes, sourced from the U.K.

  • Ispire Says FDA Guidance Opens $50B Door

    Ispire Says FDA Guidance Opens $50B Door

    Ispire Technology Inc. says it is positioning itself to capture a multi-billion-dollar opportunity in the U.S. vaping market following the FDA’s newly issued draft guidance on flavored ENDS Premarket Tobacco Product Applications. The guidance, which formally recognized device-level age verification — or Device Access Restrictions (DAR) — as a key factor in determining whether a product meets the “appropriate for the protection of public health” standard, creates a lawful pathway for flavored products that have largely been sold illicitly.

    Ispire said its 40%-owned joint venture, IKE Tech LLC, is uniquely positioned to provide the age-gating and product authentication infrastructure required for compliance, leveraging its blockchain-secured, biometric, and Bluetooth-enabled technology platform that has been validated to prevent underage access while supporting adult consumer use.

    Ispire said the recognition of DAR technologies by the FDA opens a total addressable market estimated at $50 billion, largely comprised of illicit and unauthorized flavored ENDS products. IKE Tech’s SaaS-based compliance model, which Ispire estimates can generate $5 million to $20 million in annual recurring revenue per manufacturer customer, positions the company to capture significant enterprise value even with a limited number of clients. Beyond age verification, the platform also addresses counterfeiting and illicit trade, providing traceability and authentication across the supply chain.

  • JTI Korea Rebrands Ploom Tobacco Sticks as EVO

    JTI Korea Rebrands Ploom Tobacco Sticks as EVO

    JTI Korea rebranded its heated tobacco sticks for the Ploom device, transitioning from “MEVIUS for Ploom” to the new EVO line, effective today (March 10). The name EVO, short for “evolution,” reflects the brand’s aim to “modernize and enhance the user experience.” The sticks use “CleanSeal technology to prevent tobacco residue and ActivBlend technology to deliver richer flavor with Ploom’s Heatflow system.”

    The EVO lineup features eight variants, mostly mirroring the previous MEVIUS portfolio, and retail pricing remains at 4,500 won ($3) per pack, available in Seoul and select areas of Gyeonggi Province. JTI Korea emphasized that EVO is a premium, Ploom-exclusive brand that builds on the company’s heritage while continuing to deliver evolving experiences through proprietary technologies.

  • BAT Publishes AGM 2026 Notice

    BAT Publishes AGM 2026 Notice

    Today (March 10), British American Tobacco published its Notice of Annual General Meeting 2026 and related documents on its website ahead of the AGM scheduled for April 15. Shareholders can access the 2025 Combined Annual and Sustainability Report, performance summaries, AGM Notice, and proxy forms online.

    For South African shareholders, the last day to trade is April 7, with the Record Date set for April 10. All documents are also available via the UK National Storage Mechanism in compliance with listing rules.