E-cigarette company Plxsur has achieved a remarkable milestone, surpassing $1 billion in revenue in just two years, as reported by Tobaccoreporter. In 2023, the company saw a 40% increase in revenue from the previous year, exceeding the billion-dollar mark.
Nigel Hardy, CEO of Plxsur, credits the success to strategic collaborations with 12 leading e-cigarette companies globally and a diverse portfolio of brands. These partnerships have been pivotal in building a robust Reduced-Risk Products (RRP) business. The company’s retail sales reached approximately 4 million consumers, totaling $1.835 billion. Furthermore, Plxsur’s main brands—Salt, Allo, and Flavour Beast—are projected to generate over $400 million in retail sales in 2024.
Plxsur and its partners currently hold about 10% of the global e-cigarette market, which is valued at $193.4 billion. These partners include notable firms such as Hale Vaping, UEG Holland, DampShop, Pro Vape, Puff Store, Nobacco, Ritchy Group, Vape Empire, Pacific Smoke, and CK Complex. Hardy’s strategic vision includes expanding Plxsur’s market share to 20% over the next five years.
Hardy expressed immense pride in the company’s achievements, highlighting Plxsur’s commitment to compliance, governance, and supporting adult smokers who switch to e-cigarettes. Moving forward, Plxsur aims to enhance product quality and service levels, expand its market share, and continue providing consumers with superior e-cigarette products and experiences.
