Vaporin
distributes and markets vaporizers, e-liquids and e-hookah products. Leveraging
a multi-pronged revenue model, the company’s growth strategy includes tapping
into convenience store sales and online retail continuity programs as well as
the acquisition and opening of brick and mortar retail stores.
Vaporin’s
flagship vapor technology offers the look, feel and taste of traditional
cigarettes without any tar, tobacco, smoke and odor. Additionally, vaporizers
offer a better quality experience with a more satisfying hit compared to
e-cigarettes and have the ability to mix and match flavors. Due to these and
other advantages, Bonnie Herzog, senior beverage and tobacco analyst at Wells
Faro Securities, believes vapor consumption alone will surpass combustible
cigarettes in the next decade.
The
company’s vaporizing products can also be used to consume cannabis in oil, wax
and dry herb form. Medical marijuana is now legalized in 23 states and the
market is expected to grow by 64% this year to reach $2.34 billion in sales.
Through an exclusive distribution agreement with Terra Tech Corp., Vaporin
anticipates rapidly increasing the exposure of its brand in this rapidly
growing market via an expanding dispensary network in California, Colorado,
Washington and Oregon.
In
just the past year the number of vape shops has increased more than 300% to
over 30,000 stores, and the industry is projected to grow to $51 billion in
2030 by industry experts. Along with its other initiatives, Vaporin has plans
to ambitiously grow their retail store model by continually acquiring existing
stores as well as opening new locations. As a first mover primarily focused on
this burgeoning market, the company is ideally positioned with a full line of
products and e-liquids.
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