A new direction for Big Tobacco
Let's start with the specifics. In early November, Altria Group has acquired a part of Avail Vapor LLC.
Who are all these people?
Avail Vapor is one of the largest vape shop networks in America. They have 102 shops in 12 states. Altria Group is the parent company of Philip Morris USA. They have a lot of money, and they also recently launched IQOS and MarkTen
Avail has this to say on the matter: "This helps our business continue to grow. We will be able to help smokers switch to vapor more effectively".
Here's what they say in Altria Group: "We have already benefited in various ways from this investment in Avail".
Moving on to the general. The Global Tobacco & Nicotine Forum is an annual gathering of companies from the tobacco and vape industry. This year it was held in New York, where Philip Morris International announced the launch of their Foundation for a Smoke-Free World.
In the span of 12 years, the Foundation will provide $80 million annually for research in the field of nicotine and its impact on human health. More accurately, the money will go toward development of new alternatives to smoking.