VICTORY ELECTRONIC CIGARETTES CORPORATION ANNOUNCES AGREEMENT TO EXPAND TO ASDA WAL-MART WITH IT’S VIP® BRAND IN THE UK
- Expanding to major global strategic retailer, ASDA Wal-Mart with more than 500 stores in the United Kingdom
- Range of VIP® Classic liquids rolling out, leveraging VIP’s® extensive premium portfolio spanning all product segments of electronic cigarettes
SPRING LAKE, MICHIGAN, May 13, 2014 – Victory Electronic Cigarettes Corporation (OTCQB: ECIG), announced today that it has reached an agreement with ASDA Stores Ltd., a subsidiary of Wal-Mart Stores, Inc., to expand it’s VIP® brand across the retail chain throughout the United Kingdom. The brand is rolling out immediately to the first 272 outlets, and will be expanding chain-wide over the next 8 weeks to ASDA Supercenters, ASDA Superstores, and ASDA Supermarkets.
Manchester, United Kingdom-based VIP® was launched in 2009, and over the past four years grew into one of the leading brands in the UK, with one of the broadest product portfolios that encompasses traditional rechargeables and disposables, open and closed vaping systems, tanks, and some of the highest quality and best tasting liquids. Recent market testing confirmed UK consumers significantly prefer the taste of VIP compared to other electronic cigarette brands. ASDA will be carrying four major VIP® Classic liquids including tobacco flavor in two variants, menthol, blueberry, and cherry in a range of individually sold tamper-evident, child-proof packages.
VIP® was acquired by Victory Electronic Cigarettes Corporation (ECIG) less than 30 days ago on April 22, 2014. VIP® has historically only been distributed online and in owned-retail stores and vaping shops, and retail mobile kiosk units. This expansion with ASDA Wal-Mart represents the first major distribution agreement for the brand, whereby the VIP® brand will now be available at ASDA outlets across the United Kingdom. VIP Classic liquids will be prominently displayed in the tobacco section at ASDA as consumers and retailers increasingly shift to ecigs from traditional cigarettes. The e-cigarette industry has grown rapidly in consumer popularity over the past two years, attracting an estimated 2.1 million “vapers” now in the UK alone, out of a total worldwide segment of more than $3 billion.
Victory CEO Brent Willis, who was previously a major supplier to ASDA at InBev and Cott Corporation, commented “ASDA is one of the world’s premier retailers and we believe the premium VIP® brand is a perfect fit for their customers. We are humbled by ASDA’s decision to rollout the brand and will work hard to grow the brand and the overall category together with them.”
Miguel Corral and David Levin, Directors at VIP commented, “We are very proud to be expanding with ASDA, our first major retail chain, after building the business over the past four years on our own. We worked hard to build the relationship and confidence with ASDA, and are confident that consumers that love the great taste of VIP®, will love having greater access to the brand throughout the UK. “
VIP® is one of Europe’s leading brands of premium electronic cigarettes. With its full portfolio across all relevant segments within electronic cigarettes and vaping products, VIP® has grown to become one of the most recognized brands in the United Kingdom, the number one brand in Ireland, and the preferred brand in taste amongst consumers in the UK. The Company currently sells its products online at www.vipcig.co.uk, through its own flagship retail outlets, online, in mobile kiosk units, and in major retailers in the UK. The business is a member in good standing of ECITA (European Electronic Cigarette Industry Trade Association).
The Electronic Cigarettes International Group, Ltd. (ECIG) is dedicated to empowering smokers to choose an alternative to traditional cigarettes. ECIG is one of the leading electronic cigarette companies in the world, and owns the trademarks VAPESTICK®, FIN®, Victory®, GreenStix®, VIP® and others. The Company owns multiple subsidiary companies and has operations in North America, Latin America, Western Europe, and Asia. ECIG offers consumers a full product portfolio that incorporates the highest quality and latest technology, and has been rated as superior in real tobacco taste amongst major brands. The Company’s website is www.ecig.co
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management’s current expectations regarding future results of operations, economic performance, financial condition and achievements of ECIG, including statements regarding ECIG’s expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue to materialize consistent with recent trends. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include: ECIG’s reliance on additional financing, ECIG’s profitability and financial health, risks associated with ECIG’s products, including that they may pose a health risk; governmental regulations may impact ECIG’s business; the market or consumers may not accept ECIG’s products; ECIG relies on a single class of products; existing or pending patents may affect ECIG’s business; and other factors disclosed in the Company’s filings with the Securities and Exchange Commission. Unless required by applicable law, ECIG undertakes no obligation to update or revise any forward-looking statements.
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