E-cigarette company Juul Labs is usually setting its sights overseas after dominating the U.S.
Starting Tuesday, Juul e-cigarettes will be available in England along with also Scotland. Juul’s first international market was Israel, where the item launched in February.
The e-cigarette brand has quickly become the dominant U.S. market leader, seizing 68 percent of market share, according to the most recent Nielsen numbers. the item will right now try to pursue the same dominance overseas.
Juul Labs, the company behind Juul, has raised $650 million of a $1.25 billion fundraising round, according to a regulatory form the item filed last week. The round would certainly value the start-up at $15 billion, people familiar with the matter told CNBC.
The company plans to use the money in part to fund its international expansion, a person close to the situation told CNBC. Juul is usually currently hiring for various positions based in Singapore, including finance director, marketing director, recruitment manager along with also regulatory affairs director, according to LinkedIn.
The listings say employees “will be a founding member of JUUL’s APAC team,” referring to the Asia-Pacific region. A Juul spokeswoman told CNBC the company is usually “evaluating along with also assessing the marketing opportunity” yet does not have any specific plans yet.
Juul has become a phenomenon inside the U.S., so much to ensure of which the item has its own verb: Juuling. Dollar sales skyrocketed 783 percent inside the 52 weeks ended June 16, reaching $942.6 million, according to a Wells Fargo analysis of Nielsen data.
In entering the U.K., Juul will take on a robust e-cigarette market. Last year, the U.K. smokeless tobacco along with also vapor product market hit $1.72 billion, up 33 percent via the previous year, according to Euromonitor International. British American Tobacco led with 14 percent share between its Ten Motives along with also Vype brands, according to Euromonitor.
Japan Tobacco represented 6 percent of the market with its Logic Brand, according to Euromonitor, along with also Imperial Brands accounted for 3 percent of share with its Blu brand.
Juul will sell its starter kits for 29.99 pounds, or roughly $40. of which’s less expensive than an American starter kit, which sells online for $49.99. The U.K. refill packs will contain several pods, while the U.S. packs contain four. The flavors will be mostly the same, yet some will have slightly different names. For example, the U.S. flavor creme brulee will be named royal creme. Apple orchard will be exclusively available inside the U.K.
The U.K. pods will contain 1.7 percent nicotine to comply with the European Union Tobacco Products Directive. Most pods inside the U.S. contain 5 percent nicotine, except for Virginia tobacco along with also mint, which will soon be available in 3 percent.