News Release 2/11/2014
VICTORY ELECTRONIC CIGARETTES’ VAPESTICK® BRAND LAUNCHES IN PORTUGAL
- Victory launches in Portugal with VAPESTICK® brand
- Portugal a rapidly growing e-cigarette market, estimated value of $350m in 2014
- Exclusive distribution agreement signed with VAPESTICK®
- Targeting 30,000 retail tobacco outlets
SPRING LAKE, MICHIGAN, February 11, 2014 – Victory Electronic Cigarettes Corporation (OTCQB: ECIG), the emerging leader in the global electronic cigarette industry, today announced that its recently acquired VAPESTICK® brand has entered an exclusive supply contract with Vaporecigarpt LDA, a major distributor in Portugal for expansion of the Company’s electronic cigarette portfolio throughout the country.
Mr. Paulo Ribeiro, founder and Chief Executive Officer of Lisbon-based Vaporecigarpt LDA, has a 20-year success record in sales and distribution and has launched 42 different brands into hypermarkets and major and independent retailers across Portugal, Spain and Brazil. Vaporecigarpt’s team is highly experienced and includes a number of former tobacco industry senior executives, including Rufino Silva – the former Commercial Manager at Philip Morris International responsible for the launch of Marlboro into Portugal. With the VAPESTICK® contract now secured, Vaporecigarpt is rolling out the Company’s portfolio of premium electronic cigarettes into retail tobacco stores, convenience stores and gas stations across Portugal, as one of the first international brands to be distributed throughout the country.
Portugal is one of the fastest growing electronic cigarette markets in Western Europe and is valued at over $350 million in retail in 2014, comprised mostly of local and regional brands according to Euromonitor and local data sources. The products are expanding into all channels of distribution including hypermarkets, supermarkets, drug stores, convenience and gas, tobacco stores, and specialty outlets.
Mr. Ribeiro said, “After more than one year of planning, Vaporecigarpt LDA is now launching across Portugal, with our intention to cover all 30,000 retail tobacco outlets. We were very careful to choose the right brand partner and selected VAPESTICK® of all the global brands we reviewed, because of its superior performance and taste, European quality controls and product styling. The reaction to the VAPESTICK® brand and products from retailers so far has been fantastic.”
Michael Clapper, President-International at Victory Electronic Cigarettes Corporation, and former co-founder at VAPESTICK® said, “The team at Vaporecigarpt LDA is very impressive, and highly experienced, and we have no doubt it will fast become the largest distributor of e-cigarettes in all of Portugal. This is another significant step for Victory’s international expansion plans and we are proud and delighted that the VAPESTICK® range has been exclusively selected.”
VAPESTICK® is a wholly owned subsidiary of Victory Electronic Cigarettes Corporation, and one of Europe’s leading brands of premium e-cigarettes. With its distinctive black and chrome style designs and signature blue light tips, VAPESTICK® has grown to become one of the most recognized brands in the market and sells its products both online at vapestick.co.uk and through thousands of retail outlets across UK and Europe, including Tesco, Costco, Harrods, Argos and WHSmith. VAPESTICK® was recently ranked number one in batch consistency and product delivery among the UK’s leading brands in an independent study initiated by the UK’s Department of Health. The business is also a founding board member of ECITA (the 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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