Juul’s Valuation Is Going Up in Smoke After China Terminates Sales
https://www.ccn.com/juuls-valuation-vaporizing/
Mere days after launching in the world's largest tobacco market, Juul, a leading e-cigarette producer, had its sales terminated in China; meanwhile, stock estimates have been reduced to little more than vapor, with the firm's $38 billion valuation slowly evaporating.
Just last week the popular vaporizer launched a range of its products on two of China's major e-commerce markets, JD.com, and the Alibaba-backed Tmall. However, things quickly came to a halt after Juul's products were removed from the markets, seemingly without explanation.
Bloomberg - Are you a robot?
I was sort of counting on them for odds and ends once the FDA rules kick in in May, or if there are laws passed between now and then.... but it looks like they will be shut down:
China Effectively Bans Online Sales of E-Cigarettes
China Bans Online Sales of E-Cigarettes
I have several fasttech and several vaporl orders that have not shipped yet too.
EDIT: Although the article does say "“There is no law and regulation in China that forbids the online sale of e-cigarette yet,” said Ou Junbiao, head of the Electronic Cigarette Industry Committee of China. "
EDIT #2: vaporl does have a US warehouse too though, although oddly enough the shipping is cheaper from Hong Kong.
Franklin County mother sues JUUL, vape shop over twin daughters alleged addiction to vaping
A Franklin County mother is suing e-cigarette manufacturer JUUL Labs, a Hilliard vape shop and its owners – alleging that her twin daughters became addicted to vaping through JUUL’s online marketing campaigns. The lawsuit also alleges that the Hilliard Smoke House allowed the girls to purchase the product with ease – despite being underage.
Nasty development. Vape shops can't afford expensive lawyers.
China Effectively Bans Online Sales of E-Cigarettes
if true then it’s a good thing for those who have been hoarding errr I mean stashing vape gear.
unfortunately it’s a terrible thing for those wanting to quit smoking.
Sounds like other States had better Get In line Quick if they want their piece of the Pie.
Juul Will Pay North Carolina $40 Million To Settle A Landmark Suit Over Teen Vaping
Oh wait... Some Already have.
Attorney General Becerra and Los Angeles Leaders Announce Lawsuit Against JUUL for Deceptive Marketing Practices Targeting Underage Californians and Endangering Users of Its Vaping Products
And the AG who brought this Suit against JUUL is Now the Secretary of US Health and Human Services. Which oversees the FDA. That same FDA that is Evaluating JUUL's PMTA Application.
When it Rains it Pours.
My husband just opened a pack of Marlboros and there was a coupon for $10 off a Juul starter kit or device. WTH? I know they own 35% of Juul but to give out coupons in the cigarette pack just seems wrong. Anyone else hear of vaping coupons in cigarette packs?
Maybe it's just my lack of knowledge on the matter, due to the fact that I don't care enough to look it up, but based off of the emails that I've received from JUUL over the past few years, it just seems like they don't have an ounce of fight in them.
First it was the banning of all flavored pods, meaning 85% of their product line is just out the window. I was actually surprised they survived as a company after that happened, but I guess the buckets of money they were making before the ban helped out a lot. I know the law is the law, and it's not like they could just continue selling flavored pods, but I just didn't see any push back from them at all on the matter. From my point of view, they just folded and accepted the loss.
I know they've taken other hits after the pod ban, but again, specifics elude me. So, what sparked my interest in making this post was an email they sent out on April 20th of this year that I just now read...
"Final call - order before our online sales pause on April 22nd."
It basically reads something about federal regulatory changes...blah blah blah. So ALL online sales are just gone now. So does JUUL have people in the trenches actually fighting for the vaping community? I just haven't come across much proof, or rumblings in the media about them actually fighting for the many, many, many millions of dollars they have lost out on due to them taking huge L's left and right. I don't even use JUUL products anymore, so if you're wondering why I care so much about the matter, I'm wondering the same myself. It's just odd. I guess the parts of big tobacco who didn't own any shares in the vape industry finally got tired of losing money to it. Anyway. That's a rant.
Hey everyone! So it’s clear that things are changing for all of you who live in the USA. I truly feel for all of you, and I still can’t believe this is happening. But, what is the impact that this is going to have in all of the other countries that basically depend on the US market?
I live in Perú and in most shops, if not in all of them, most of the juice that is sold is directly imported from the USA. Does this mean that we won’t be able to purchase these items anymore either? And what about new devices? I’m aware that most of them are made in China but under American brands.
I understand that the USA has probably been one of the biggest markets in regards to vaping. How is this whole thing going to impact the rest of the world? Our vape community isn’t that big, it just started growing last year. Stores don’t really make their own e-juices, it’s hard to get good quality ingredients.
I’d really appreciate your thoughts <3
Juul threw millions of dollars at Washington. It hasn’t bought much.
Juul Labs has spent millions of dollars on lobbying, hired high-profile Trump administration officials, and blanketed Washington with ads touting its efforts against underage vaping.
None of that was enough to keep President Donald Trump from moving to ban flavored e-cigarettes on Wednesday, delivering a blow to the dominant vaping company and its rivals.
“Vaping has become a very big business as I understand it, a giant business in a very short period of time,” Trump told reporters in the Oval Office, sitting alongside Health and Human Services Secretary Alex Azar. “But we can't allow people to get sick and we can't have our youth be so affected.”
Neither Trump nor Azar mentioned Juul in their remarks. But Scott Gottlieb, who pressed for greater regulation of vaping as Trump’s Food and Drug Administration commissioner before stepping down earlier this year, said the move would have an outsize impact on the San Francisco-based company.
“This problem was largely created by the cartridge-based Juul products in my opinion,” Gottlieb said in a statement to POLITICO.
JUUL is being sued by the fired senior vice president for global finances for not recalling tainted JUUL cartridges according to the lawsuit filed. At least that is the claim of the lawsuit. Not sure of all the facts or details at this point, but here is the article with the actual court filing included. There is no mention of what the contamination was in the filing.
Lawsuit: Juul sold tainted e-liquids to users “drunk and vaping like mo-fo’s”
I don’t know if virus situation has shipping crates stuck in isolation but my packages have been stuck in China for 3 weeks.
Usually packages have left Chinese customs by now.
Anyone else waiting on packages from China?