London-based British American Tobacco (BAT) has been investing heavily in non-combustible nicotine products and is aiming for 50 million users of vaping products by 2025.
The tobacco giant is reported to have attracted 1.4 million new users of vapes, heated tobacco products and nicotine pouches in the first quarter of 2021.
As the company seeks to make cigarette alternatives profitable by 2025, it’s shares have gained more than 2% in early stock market trading, after it reported a strong performance in both cigarettes and “non-combustible” products such as Vype, its flagship vapour brand, which has now become Vuse.
While the 1.4 million increase took it to 14.9 million, less than a third of the target, sales will have to continue picking up pace if BAT is to achieve its goal. The company also aims to achieve annual revenues of £5bn from three new products – Vuse vapes, Velo oral nicotine pouches and Glo heated tobacco, by the same date.
Diane Caruana – VapingPost – 2021-12-03.
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