One of the largest cigarette company no longer wants to sell cigarettes
This is a true story of a mega corporation undergoing self-disruption.
Philip Morris International (PMI) is one of the world’s largest tobacco companies and a Fortune 500.
Its CEO says it will stop selling Marlboros in the UK in the next 10 years.
Don’t you find that amazing?
One of the largest cigarette company no longer wants to sell cigarettes.
Almost sounded like they were following OnlyFans with the “banning porn” fiasco that clearly was more of a marketing stunt than an affirmative reform.
But I think PMI is serious, at least based on what I have been digging.
Philip Morris International (PMI) is one of the world’s largest tobacco companies and a Fortune 500. Its CEO says it will stop selling Marlboros in the UK in the next 10 years.
PMI had a revenue of $76b in 2020, primarily selling tobacco-related products.
If they aren’t selling cigarettes anymore, what are they pivoting to then?
Smoke-free products like e-cigarettes and vape guns.
They are also pushing for heated tobacco products (HTPs) that heats tobacco just enough to release the vapors, which is slightly better than cigarettes that burns the tobacco.
There’s also carbon heated tobacco products and nicotine salt alternatives.
Honestly, besides vaping, I didn’t know there were even such alternatives in the market and clearly, they aren’t very persuasive for people to switch.
They are actively trying to disrupt themselves before anyone else does.
This is so cool.
I have read about this but seeing it in action is another thing.
The CEO is obviously real serious about pivoting away from cigarettes, the one source of revenue that has made the company.
I applaud this bravery.
It takes immense courage to make a commitment like this.
Go read their website, they are dead serious.
Every product page, every paragraph and the form of the words they chose to use all points towards encouraging smokers to stop smoking and quit.
Its uncanny but very heartwarming in a way.
Smoking is a painful scourge for society and it has given us so much health, mental and social problems.
I am heartened that PMI is taking action to rectify that.
They were literally the last person I would have in mind, in the fight against smoking.
I hope they find the healthier, safer replacement to smoking.
That would be a huge market beyond belief.
Check out Kate Wang, the billionaire founder of Relx (they make vaping products), who made north of $324m in the just 9 months of 2020 and is worth nearly $45b.
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