E-cigarette plc Juul Labs is setting its sights overseas after dominating the U.S.
Starting Tuesday, Juul e-cigarettes determination be available in England and Scotland. Juul’s first international market was Israel, where it threw in February.
The e-cigarette brand has quickly become the dominant U.S. market chairman, seizing 68 percent of market share, according to the most modern Nielsen numbers. It will now try to pursue the same dominance overseas.
Juul Labs, the guests behind Juul, has raised $650 million of a $1.25 billion fundraising circuitously, according to a regulatory form it filed last week. The round devise value the start-up at $15 billion, people familiar with the be important told CNBC.
The company plans to use the money in part to fund its oecumenical expansion, a person close to the situation told CNBC. Juul is currently letting for various positions based in Singapore, including finance director, selling director, recruitment manager and regulatory affairs director, according to LinkedIn.
The listings say hands “will be a founding member of JUUL’s APAC team,” referring to the Asia-Pacific ambit. A Juul spokeswoman told CNBC the company is “evaluating and assessing the storing opportunity” but does not have any specific plans yet.
Juul has become a occasion in the U.S., so much so that it has its own verb: Juuling. Dollar sales skyrocketed 783 percent in the 52 weeks objective June 16, reaching $942.6 million, according to a Wells Fargo inquiry of Nielsen data.
In entering the U.K., Juul will take on a robust e-cigarette trade in. Last year, the U.K. smokeless tobacco and vapor product market hit $1.72 billion, up 33 percent from the prior year, according to Euromonitor International. British American Tobacco led with 14 percent equity between its Ten Motives and Vype brands, according to Euromonitor.
Japan Tobacco exemplified 6 percent of the market with its Logic Brand, according to Euromonitor, and Queenlike Brands accounted for 3 percent of share with its Blu brand.
Juul wish sell its starter kits for 29.99 pounds, or roughly $40. That’s less priceless than an American starter kit, which sells online for $49.99. The U.K. refill backpacks will contain five pods, while the U.S. packs contain four. The flavors resolution be mostly the same, but some will have slightly different dubs. For example, the U.S. flavor creme brulee will be named royal creme. Apple orchard desire be exclusively available in the U.K.
The U.K. pods will contain 1.7 percent nicotine to concur with the European Union Tobacco Products Directive. Most pods in the U.S. stifle 5 percent nicotine, except for Virginia tobacco and mint, which ordain soon be available in 3 percent.