Tag: sales ban

  • Oregon Governor Set to Sign Online Vapor Sales Ban

    Oregon Governor Set to Sign Online Vapor Sales Ban

    The Oregon Senate approved House Bill 2261 on Wednesday, a move that supporters said will limit Oregon’s youth from accessing nicotine products by closing loopholes that have allowed those underage to purchase vaping products. The legislation passed the Oregon House on April 10. It now goes to the governor for her signature, which she has said she will sign.

    Credit: Vlad

    “The use of vaping products by our youth is shocking,” said State Sen. Kathleen Taylor. “No matter how diligent our retailers are, there is still significant access to these products online.” Oregon prohibited the online sale of cigarettes and other tobacco products from taking place online in 2017. Oregon brings vaping products in line with that policy.

    E-cigarettes started to be taxed for the first time in Oregon beginning Jan. 1 after voters overwhelmingly approved Measure 108 in late 2020.

    In 2015, Taylor championed House Bill 2464 to make certain access and use laws around inhalant delivery systems aligned with that of other tobacco products. The bill added age restrictions on purchasing and defined where the use of vape products is allowed, according to KTVZ.com.

    “Vaping is harmful to our youth. Not only is it habit forming, the nicotine contained in these products can have lasting effects on kids’ still-developing brains,” said Taylor. “The use of these products continues to rise, and they contain products and chemicals that are highly addictive. Oregon’s licensed retailers have agreed to do the right thing, protect our kids, and sell only to those of legal age. Ensuring a face-to-face exchange is required for purchasing these products, we remove a loophole that may be used that can result in lifelong addiction and negative health outcomes.”

  • China: Vapor Market Booming Despite Online Sales Ban

    China: Vapor Market Booming Despite Online Sales Ban

    Photo: Timothy Donahue

    China’s vapor market has mushroomed offline after the country banned online sales of e-cigarettes about a year ago, reports Bloomberg. Not even the coronavirus has stopped the expansion.

    RELX Technology, the country’s largest player, opened more than 1,000 stores in the first half of 2020, and said in January it planned to add 10,000 outlets within the next three years. Its rival, Yooz, has also boosted the number of stores.

    Shares in Smoore International Holdings, the world’s largest maker of vaping devices and components for brands, have more than quadrupled in value since the company’s July debut, making it one of Hong Kong’s best-performing initial public offerings of the year. RELX and Yooz are both clients of Smoore.

    Smoore founder Chen Zhiping’s net worth has surged to $14.2 billion, according to the Bloomberg Billionaires Index.

    While the coronavirus outbreak affected Smoore’s production and operations in the first quarter of the year, it still managed to post a 19 percent increase in revenue to CNY3.9 billion ($592 million) for the first six months, with more than half of its sales coming from mainland China and Hong Kong.

    Smoore held one-sixth of the global market share for vaping products by revenue last year, and that pie is poised to grow further, according to Frost & Sullivan data it cited in its prospectus. The $36.7 billion global e-cigarette market will reach $111.5 billion by 2024, increasing at an annual compound rate of 25 percent, projections show.

    Mounting restrictions on vapor products globally, including a ban on certain e-cigarette flavor in the world’s largest vapor market, the United States, haven’t scared off investors. Stocks linked to China’s consumer sector have been particularly popular this year as the nation has been among the first to emerge from the pandemic.