The San Francisco based manufacturer revealed its first official growth figures last month, reporting sales of over $1 billion in 2018, up from $200 million in 2017, reaching an overall profit of $12.4 million.
In the fourth quarter Juul’s revenue fell by 2.5% from the previous quarter, while its adjusted loss reached $70.4 million. However, the poor figures from the U.S. results were offset by success overseas.
Partnering with Altria
Last January, one of the world’s tobacco giants, Altria famously purchased 35% of Juul. This equates to the e-cig manufacturer now being valued at $38 billion, which makes it more valuable than Airbnb and Elon Musk’s SpaceX.
Partnering with “Big Tobacco” has of course damaged Juul’s reputation as striving to reduce smoking rates. In response to this, the manufacturer has announced the launch of a new TV campaign, set to commence over the Summer, which will feature testimonials from adults who have successfully used Juul in order to quit smoking.
Read Further: Reuters