NetworkNewsBreaks – Kaival Brands Innovations Gr
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Posted On: 10/05/2021 4:18:01 PM
NetworkNewsBreaks – Kaival Brands Innovations Group Inc. (NASDAQ: KAVL) Plans Expansion into UK Market
Kaival Brands (NASDAQ: KAVL), the exclusive global distributor of products by Bidi(R) Vapor LLC, has announced plans to release its products into the United Kingdom. According to the company, the UK market is an ideal opportunity for Bidi Vapor’s initial international rollout. The company is directing a substantial amount of time and resources on its efforts in international markets where it has full market and product approvals regarding distribution of the complete BIDI Stick product line, including its exclusive nontobacco flavors. The flavored electronic nicotine delivery systems (“ENDS”) market in the United States has been impacted by the U.S. Food and Drug Administration’s (“FDA”) decision to deny ENDS marketing authorization, so Kaival is eyeing international opportunities. In the past year, the company has obtained marketing and distribution approval in 11 global markets, including the United Kingdom and Russia. KAVL is focused on executing a successful launch strategy in the UK while also negotiating international distribution agreements with some of its current U.S. customers that have global distribution capabilities. The BIDI Stick is positioned as a true, effective alternative for adult smokers of traditional combustible cigarettes. KAVL believes that the UK market presents a strong fit as a market, as the majority of UK ENDS consumers are current and former smokers. The company noted that the UK market, along with the European Union, represents a current ENDS market of $2.5 billion, with projections to reach $3.9 billion by 2023. “We have weathered two storms: COVID-19 and the FDA’s universal decision on flavored ENDs,” said Kaival Brands founder and CEO Niraj Patel in the press release. “These events had negative consequences for our business, but we believe the storm is over. After the rain, the sun comes out. We are well capitalized, and it is my belief we have the best ENDS product on the market for adult consumers. Our goals are to have a strong first year in the UK and to recapture our leading market share in ENDS in the U.S.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Kaival Brands (NASDAQ: KAVL), the exclusive global distributor of products by Bidi(R) Vapor LLC, has announced plans to release its products into the United Kingdom. According to the company, the UK market is an ideal opportunity for Bidi Vapor’s initial international rollout. The company is directing a substantial amount of time and resources on its efforts in international markets where it has full market and product approvals regarding distribution of the complete BIDI Stick product line, including its exclusive nontobacco flavors. The flavored electronic nicotine delivery systems (“ENDS”) market in the United States has been impacted by the U.S. Food and Drug Administration’s (“FDA”) decision to deny ENDS marketing authorization, so Kaival is eyeing international opportunities. In the past year, the company has obtained marketing and distribution approval in 11 global markets, including the United Kingdom and Russia. KAVL is focused on executing a successful launch strategy in the UK while also negotiating international distribution agreements with some of its current U.S. customers that have global distribution capabilities. The BIDI Stick is positioned as a true, effective alternative for adult smokers of traditional combustible cigarettes. KAVL believes that the UK market presents a strong fit as a market, as the majority of UK ENDS consumers are current and former smokers. The company noted that the UK market, along with the European Union, represents a current ENDS market of $2.5 billion, with projections to reach $3.9 billion by 2023. “We have weathered two storms: COVID-19 and the FDA’s universal decision on flavored ENDs,” said Kaival Brands founder and CEO Niraj Patel in the press release. “These events had negative consequences for our business, but we believe the storm is over. After the rain, the sun comes out. We are well capitalized, and it is my belief we have the best ENDS product on the market for adult consumers. Our goals are to have a strong first year in the UK and to recapture our leading market share in ENDS in the U.S.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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