Deals
Asia Smokers Are New Target for Embattled E-Cigarette Maker Juul
- Vaping company looks to South Korea, Indonesia and Philippines
- Possible Altria-Philip Morris deal may complicate strategy
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Juul Labs Inc., the e-cigarette pioneer grappling with negative publicity and government crackdowns in the U.S., is setting its sights on Asia, home to half the world’s smokers.
The San Francisco company in recent months has begun selling its vaping devices in South Korea, Indonesia and the Philippines, and is looking into entering more markets in the region. Asia -- with looser tobacco regulations and favorable tax treatments, as well as high cigarette sales volume -- has been a lucrative alternative for tobacco giants suffering from falling smoking rates and slowing growth opportunities in developed countries.