UK vape specialist retailer VPZ announced a multi-million-pound investment program to expand domestic manufacturing, strengthen supply-chain controls, and create hundreds of jobs across its retail and logistics network, according to Convenience Store. The plan includes adding a fifth production line at its UK facility, opening 40 new stores in 2026, and establishing a bonded warehouse at its Edinburgh headquarters to support compliance, enforcement, and preparation for the planned vape tax in October. VPZ said the investment is aimed at improving resilience, supporting regulatory requirements, and distinguishing compliant retailers from illegal operators amid record seizures of illicit vapes by authorities.
Category: Business & Finance
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Philip Morris Egypt Updates Prices
Philip Morris Egypt announced updated prices for its cigarette and heated tobacco products effective today (Feb. 2), saying some products increased compared with July 2025 prices, while others remained unchanged. Merit is now priced at EGP 111 ($2.33) per pack, Marlboro at EGP 102 ($2.14), L&M and TEREA at EGP 82 ($1.72), and HEETS holding at EGP 69 ($1.45). Philip Morris Egypt said the prices can be verified through QR codes on packaging and urged retailers to comply with the official list, marking the company’s first price adjustment of 2026.
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KT&G Shares Surge as BlackRock Becomes Major Shareholder
BlackRock purchased 68,646 shares of South Korea’s KT&G today, according to The Korea Herlad, making it one of KT&G’s largest shareholders, behind IBK Industrial Bank of Korea and the National Pension Service. According to regulatory filings, BlackRock, the world’s largest asset manager, now has total holdings in KT&G that top 5.91 million shares, or 5.01% of the tobacco and consumer goods company. Korean rules require investors crossing the 5% ownership threshold to disclose their positions to financial authorities and the Korea Exchange.
KT&G shares rose after the disclosure, reaching an intraday record of 153,900 won ($106.19) and closing at an all-time high of 152,900 won ($105.50). The company is scheduled to report earnings on February 5, with market forecasts projecting annual sales of 6.53 trillion won ($4.5 billion), up 10.6% year over year, and operating profit of 1.37 trillion won ($945 million), an expected increase of 13.3%.
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PMI to Host Q4 and FY25 Webcast February 6
Philip Morris International said it will host a live audio webcast on February 6 at 9 a.m. ET to discuss its fourth-quarter and full-year 2025 financial results, which are scheduled to be released two hours prior. The listen-only webcast will be hosted by Group CEO Jacek Olczak and CFO Emmanuel Babeau and will include a presentation of results followed by a Q&A session with investors. A recording, slides, and transcript will be available after the event for one year, and the webcast can also be accessed through PMI’s Investor Relations mobile app.
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Altria Seeks Boost from Double Duty Drawback
Altria Group said it expects profits to get a lift in the second half of the year by taking advantage of a U.S. tax rebate tied to higher cigarette imports and exports, even after narrowly missing fourth-quarter 2025 profit estimates. Despite forecasting full-year 2026 earnings above analysts’ expectations, Altria’s shares fell about 2.8% following the update.
The boost is expected to come from the so-called “double duty drawback,” a provision that allows tobacco companies to reclaim federal excise taxes paid on domestically sold cigarettes when they export similar products. According to Reuters, while rivals such as British American Tobacco have long benefited from this mechanism, Altria historically could not because it sells cigarettes only in the U.S. The company is now expanding exports through partnerships and contract manufacturing deals with foreign firms, including South Korea’s KT&G.
Altria executives said using the rebate is necessary to remain competitive as cigarette sales continue to decline. The company has been investing in alternative products, such as its On! nicotine pouches, though competition has intensified.
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India’s ITC Sees Profits Drop 10% with Labor Charge
ITC, India’s largest cigarette maker, reported a 10% decline in quarterly profit, weighed down by higher raw material costs and a one-time charge linked to the rollout of the country’s new labor codes. Standalone profit fell to 50.9 billion rupees ($560 million) for the quarter ended December 31, while total expenses rose 5%, partly due to rising prices of leaf tobacco, edible oil, and wheat, according to Reuters.
Despite the profit drop, ITC’s cigarettes business — its biggest segment — posted an 8% rise in revenue, supported by steady volumes, even as leaf tobacco prices climbed amid stronger export demand. The company warned of further pressure on the sector after India imposed additional excise duty on cigarettes on top of a 40% goods and services tax, a move it said could fuel illicit trade among the country’s estimated 100 million smokers.
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Altria Revenue Down 3.1%, Forecasts Growth Amid Smoke-Free Push
Altria Group reported 2025 adjusted diluted EPS of $5.42, up 4.4% year over year, as the company highlighted momentum in its smoke-free portfolio and $8 billion in total shareholder returns through dividends and share repurchases. Full-year net revenues declined 3.1% to $23.3 billion, while revenues net of excise taxes fell 1.5% to $20.1 billion. In the fourth quarter, Altria repurchased $288 million in stock and paid $1.8 billion in dividends. The company also noted recent FDA marketing authorizations for additional on! PLUS nicotine pouch variants and continued progress under its multi-year Optimize & Accelerate cost-savings initiative.
Altria expects 2026 adjusted diluted EPS in a range of $5.56 to $5.72, representing projected growth of 2.5% to 5.5%. Guidance assumes continued investment in smoke-free products, limited enforcement impact from illicit e-vapor products, and that NJOY ACE will not return to the market in 2026. The company reaffirmed its long-term strategy of building an FDA-authorized smoke-free portfolio while maintaining leadership in traditional tobacco, targeting mid-single-digit earnings and dividend growth through 2028.
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Oettinger Davidoff Transfers Ownership to Next Generation
Oettinger Davidoff AG announced that ownership of the privately held Swiss company has been passed to the next generation of the Schneider family, according to Halfwheel. Lilian Schaffner-Schneider and Christine Ryhiner-Schneider, daughters of longtime owner Dr. Ernst Schneider, have transferred the company’s entire share capital to their direct descendants.
Chairman Domenico Scala said the handover is intended to preserve and build on the legacy of Dr. Ernst Schneider and Zino Davidoff while ensuring the 150-year-old company remains an independent, family-owned business. The Schneider family will retain two seats on the six-member board, and the company emphasized that there will be no changes to the current management team. Oettinger Davidoff owns the Davidoff, AVO, Camacho, and Zino cigar brands, operates factories in the Dominican Republic and Honduras, and runs a global retail network that includes 65 Davidoff of Geneva stores, more than 170 Wolsdorff Tobacco shops in Germany, and 25 A. Dürr & Co. locations in Switzerland.
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Natura Cigar Co. Tabs City of Palms as U.S. Distributor
Dominican cigar maker Natura Cigar Co. appointed City of Palms Distribution as its new U.S. distributor, marking a key step in the brand’s international growth strategy. The agreement follows several weeks of discussions and is expected to strengthen Natura’s footprint in the American market while laying the groundwork for broader global expansion, said Dary Munoz, the company’s international sales director, in a press release.
According to Halfwheel, Natura Cigars was founded in 2020 by Jacob Yfrach, and has a unique tobacco-growing operation in Constanza, Dominican Republic, a high-altitude, cool-climate region that allows for an extended growing season. The company emphasizes slow, temperature-controlled aging to preserve sugars and oils in its tobacco. City of Palms, based in Fort Myers, Florida, distributes nearly two dozen cigar brands.
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JT Applies to Raise Prices of Plume and Wiz Products
Japan Tobacco (JT) submitted an application to Japan’s Minister of Finance yesterday (January 27) seeking approval to revise the retail list prices of cigarettes, aligned with the government’s review of the heated tobacco taxation system effective April 1. The application covers all 37 variants of Plume tobacco sticks and Wiz tobacco capsules, marking a comprehensive price adjustment across JT’s heated tobacco portfolio. JT said the proposed revisions are intended to help maintain product quality and brand value while continuing to meet consumer expectations amid changes to the tax framework. If approved, the new retail prices will take effect from April 1, with the company acknowledging the added cost to consumers while committing to further improvements in product quality and customer service.