The tiny e-cigarettes referred to as Juul has become the most marketable trend in recent years. Juul was launched in 2015, beginning with a $2 million budget. Since then, its sales have gone up 800 percent.
Using Addiction to Produce Revenue
Although its founders claim to have created it to help rid the world of cigarettes, Juul has instead become a gateway for many people to become addicted to nicotine who had never smoked prior to their purchase. The product is designed to make you want to use it more because of how easy and fast it is.
The Epidemic of Juul Use Amongst Teenagers
High schools across America have banned Juul entirely because of the immense number of students using its products when the age restriction on them is supposed to be 21 years old and over. This epidemic has caused the company to get hit with many lawsuits and FDA regulations. In response, Juul has promised to give $30 million towards education and research on how to keep youth away from vaping.
Marlboro Now Owns a Third of Juul’s Stakes
Marlboro, the world’s most profitable cigarette company, was founded in 1924 and today has a current valuation of $26.6 billion. Juul, which has existed for less than five years, has managed to attain a $16 billion valuation. Due to the skyrocket in Juul’s revenue, the makers of Marlboro, Altria Group Inc, recently announced that it would pay $12.8 billion to hold 35 percent of the Juul Labs’ stakes.