Kaival Brands Innovations Group, Inc, parent to Bidi Vapor, LLC (“Bidi Vapor”), received its first royalty payments from Philip Morris International, Inc. (PMI) for marketing Bidi Vapor products in multiple countries.
In a press release, Kaival Brands announced that PMI achieved a record level of monthly sales in July for of its Bidi products that are marketed by PMI under the names VEEBA and VEEV NOW.
Eric Mosser, Chief Executive Officer and President of Kaival Brands, said he was pleased to see the positive trajectory of sales and royalties to the company.
“We are proud to work with Philip Morris and remain steadfast in our commitment to the responsible commercialization of better alternatives to cigarettes for adults who would otherwise continue smoking,” he said.