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Category: Business & Finance

  • Casa 1910 AG Raises $3 Million, Drops Prices, Expands Distribution

    Casa 1910 AG Raises $3 Million, Drops Prices, Expands Distribution

    Casa 1910 AG announced key developments in its growth strategy, including the closing of a $3 million funding round, a strategic price decrease across its portfolio, and new global retail and distribution partnerships. The investment, secured on September 1, will support production scaling, inventory expansion, and accelerated product development for both Casa 1910 and Mexigars.

    In line with its growth strategy, Casa 1910 adjusted pricing—a 20-25% decrease across most brands—to support retailers and broaden consumer access, with additional inventory of its popular Mexigars brand available from November 2025. “This decision is about listening to the market and acting with conviction,” said Rob Maneson, who was appointed Chief Commercial Officer in April. “This is not about short-term sacrifice — it is an investment in the strength and resilience of our community.” 

    The company also announced new partnerships with Avolta and Heinemann Group, Premium Brands (Spain), Cigraal (APAC), Cigar Must (Switzerland), Wild Bill’s (USA), and multiple U.S. distributors, strengthening its presence across 22 countries and 17 U.S. states.

  • BAT Fiji Cuts Emissions with Sustainable Curing Barn

    BAT Fiji Cuts Emissions with Sustainable Curing Barn

    British American Tobacco (BAT) Fiji has upgraded the curing barn at its Votualevu, Nadi leaf facility, enabling a shift from diesel to sustainable fuel and cutting annual carbon emissions by an estimated 428 tons, according to the Fiji Sun.

    The $1 million “Project GreenEN,” part of BAT’s wider ESG program, is expected to save $200,000 annually while supporting local agriculture. BAT Fiji employs about 1,100 seasonal workers and works with hundreds of farmers, as the group maintains leaf-growing operations in the country.

  • Indonesia Moves to Classify Tobacco as a Strategic Commodity

    Indonesia Moves to Classify Tobacco as a Strategic Commodity

    Indonesia’s House of Representatives (DPR) is drafting a bill to include tobacco among eight strategic plantation commodities, aiming to safeguard the sector and protect farmer livelihoods. The move comes amid falling tobacco absorption and growing farmer concerns. Lawmaker Sofyan Dedy Ardyanto, who represents Temanggung, Central Java, said the bill has been shaped with input from the Indonesian Tobacco Farmers Association (APTI) and local governments.

    Despite declining demand, Indonesia remains one of the world’s largest cigarette markets, with the industry supporting more than 5 million workers and contributing significantly to state revenue through excise taxes.

    Ardyanto cautioned that the country’s ratification of the FCTC has weakened the sector. “The industry is still viable, but our regulations treat it like a dying sector,” he said.

  • Vanuatu MP Plans First Cigarette Factory, Pushes Tobacco as Export Crop

    Vanuatu MP Plans First Cigarette Factory, Pushes Tobacco as Export Crop

    Vanuatu’s MP Jesse Luo is driving plans to establish the nation’s first cigarette factory under his company Golden Leaf, positioning tobacco as a high-value commercial crop for export. After years of trials, Luo said tobacco has proven viable in Vanuatu, with one hectare yielding up to VT100,000 ($833) for farmers in just three and a half months. Golden Leaf will distribute free seeds and technical support, purchasing harvested leaves for processing.

    The factory is slated to open in late 2025 or early 2026, with 99% of output targeted for overseas markets. Samples sent to Singapore for testing have received positive early feedback on quality and storage potential, according to officials. Luo said the initiative aims to reduce reliance on seasonal work abroad by strengthening domestic agriculture.

    “Agriculture is our foundation, and tobacco farming can be one of the industries that helps us move forward,” he said.

  • JT Completes €500 Million Subordinated Bond Issuance

    JT Completes €500 Million Subordinated Bond Issuance

    Japan Tobacco International Financial Services B.V. (JTIFS), a subsidiary of Japan Tobacco Inc. (JT), completed the issuance and settlement of €500 million Euro-denominated subordinated bonds due 2055. The transaction was first announced on August 27.

    The securities, which carry equity-like features while being classified as debt, were launched to refinance JTIFS’s existing subordinated bonds due 2081.

    JT said the transaction, which also included the settlement of a related tender offer, will help strengthen the group’s financial foundation. The new securities are callable at the issuer’s discretion from March 2031 and on subsequent interest payment dates.

  • Sesh Secures $40M to Accelerate U.S. Growth

    Sesh Secures $40M to Accelerate U.S. Growth

    Sesh, an Austin-based, tobacco-free nicotine pouch maker, says it has raised more than $40 million in funding to scale its U.S. business. The financing round, led by 8VC and Jack Link’s CEO Troy Link, included participation from Electric Feel Ventures and a slate of investors spanning retail, entertainment, and manufacturing, including Post Malone, Diplo, and Zac Brown.

    Launched in 2020, Sesh has rapidly expanded into major national retailers such as Buc-ee’s, Sheetz, Quiktrip, AMPM, Circle K West, and Pilot. The company says it is anchored by a patented, pH-balanced formulation from Thomas Ericsson, inventor of Zyn, and that its Ohio-made pouches incorporate MCT oil to enhance mouthfeel and address dryness concerns common in the category.

    “We’re really trying to raise the standard in nicotine,” said founder and CEO Max Cunningham. “It’s important for emerging brands like Sesh to exist in the category, and for it not to be just dominated by Big Tobacco.”

    Cunningham told Fortune magazine the company has 30 full-time employees, availability in more than 5,000 stores across the U.S. and Canada, and is on track to grow 5,000% year over year. “We’re building for the long term,” he said. “This is about quality, trust, and building a nicotine brand that reflects where the market is going — not where it’s been.”

    A PMTA for the 72 Sesh SKUs has been accepted and under review by FDA since 2023.

  • JTI: Mayfair Gold Strengthens Market Position in UK

    JTI: Mayfair Gold Strengthens Market Position in UK

    JTI says its Mayfair Gold continues with strong momentum in 2025, and is the UK’s fastest-growing low-price ready-made cigarette brand. With a 4.4% market share, the brand has established itself as a key player among independents and symbols, driven by strong demand for high-quality products at ultra-value prices since its launch in September 2024, JTI said. The company also said Mayfair Gold’s rolling tobacco is on track to exceed £200 million in retail sales within its first year, underscoring the brand’s rapid ascent in both the RMC and RYO categories.

    The growth comes alongside a series of retailer engagement initiatives on JTI360, including the Mayfair Gold Super Competition, which recently rewarded Salim Patel of The Swan Service Station, Mirfield, England, with a VIP cricket experience at Lord’s Cricket Ground in London.

  • Defiance ETFs Launches 2X Philip Morris Fund

    Defiance ETFs Launches 2X Philip Morris Fund

    Defiance ETFs introduced the “Defiance Daily Target 2X Long PM ETF,” an exchange-traded fund (ETF) under the NYSE symbol ZYN. The company clarified that the investment was not a purchase of Philip Morris International (PMI) stock, but an investment in a fund that offers investors twice the daily exposure to PMI. The leveraged product uses swaps and options to achieve its objectives, giving retail investors access to amplified PMI performance without the need for margin accounts.

    PMI, Defiance said, is positioning itself for a future beyond combustible cigarettes, and that the launch reflects investor appetite for targeted exposure to global tobacco majors as they expand their portfolios into smoke-free categories. Defiance said ZYN is designed for sophisticated investors who understand the risks of daily leveraged funds.

  • PMI Reaffirms 2025 EPS Outlook on IQOS, ZYN Momentum

    PMI Reaffirms 2025 EPS Outlook on IQOS, ZYN Momentum

    Philip Morris International reaffirmed its 2025 earnings forecast today (September 2) at the Barclays Global Consumer Staples Conference, projecting reported diluted EPS of $7.24–$7.37 and adjusted diluted EPS of $7.43–$7.56, representing 13–15% growth versus last year. PMI reported better-than-expected combustible volume recovery in Turkey and Egypt, alongside continued growth in IQOS, ZYN, and VEEV globally.

    “With strong volume momentum over the summer months, including IQOS and ZYN offtake, and despite increasing competition in smoke-free products, we are on track to deliver our full-year guidance of 13% to 15% adjusted diluted EPS growth in dollar terms, the strongest since 2011 excluding the pandemic recovery,” said Jacek Olczak, Chief Executive Officer.

    In the U.S., ZYN posted about 32% growth in the first eight weeks of Q3, prompting PMI to forecast shipment growth in line with offtake through year-end.

    An archived copy of the webcast is available at www.pmi.com/irapp.

  • BAT Rothmans Launches Improved E-Cigarette Sticks in Korea

    BAT Rothmans Launches Improved E-Cigarette Sticks in Korea

    BAT Rothmans, South Korea’s third-largest tobacco company, today (September 2) unveiled new tobacco sticks for its Glo Hyper e-cigarette devices, featuring “StickSeal” technology to prevent tobacco residue from falling inside the device. The company said all 10 Neo stick types now include the innovation, and that packaging has been updated to promote cleanliness and convenience for users.

    BAT Rothmans said it aims to expand its e-cigarette market share with the upgrade. The company’s Glo Hyper Pro devices previously won the European Product Design Award 2024 and the iF Design Award for design and usability. BAT Group distributes to 175 countries and targets 50 million global e-cigarette users by 2030 as part of its carbon-neutral strategy.