Philip Morris Korea Significantly Expands Retail Availability of 'VEEV' E-vapor Product
Philip Morris Korea is launching a major market push by significantly expanding the distribution network for its e-vapor product, 'VEEV', across the country. While the product was previously available only at nine company-operated stores, it can now be found at approximately 14,000 convenience stores nationwide.
This decision is a strategic move, coming at a time when Philip Morris Korea holds a high market share of approximately 45% in the domestic heated tobacco product market. Building on the trust and brand recognition established through its heated tobacco products, the company plans to extend its influence into the e-vapor market, a category of non-combustible products.
Industry insiders have assessed that this expansion of retail locations will allow consumers to purchase the product more conveniently. Furthermore, it is analyzed as a sign of Philip Morris Korea's strong commitment to diversifying its non-combustible product portfolio beyond existing heated tobacco products to include e-vapor products.
Philip Morris Korea is expected to further solidify its position in the domestic e-cigarette market through this expansion of its distribution network. The industry and consumers alike are focusing on what kind of performance the company will achieve in the e-vapor market moving forward.