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Nicocigs Products

The latest data from Nielsen brings fantastic news for Nicocigs as statistics show that parent company Philip Morris International have become the largest Trademark Owners of electronic cigarette brands in the UK.

Since the acquisition of Nicocigs by PMI in June of this year, the company’s market share has increased by 1.5%*, overtaking previous market leaders Electronic Cigarette Group International (ECIG). Wasting no time in putting comprehensive strategies into action, PMI have further improved the market share of already thriving brands, Nicocig, Nicolites, Vivid Vapours and Craze E-shisha.

Not only has Nicocigs become the retail market leader in the UK but the entire UK market itself is still rapidly increasing. The estimated value in 2013 was $350millon and it is expected to reach $417 by the end of 2014. Forecasts for 2015 show further anticipated growth with figures topping $560million**.

These figures are all the more impressive when all other e-cigarette acquisitions are taken into consideration. The Nielsen report shows that Nicocigs has had the largest growth in value share out of any e-cigarette company post take-over.

When investigating the reason behind these statistics, it was found that Nicolites and Vivid products were at the higher end of the pricing spectrum, meaning that reputation and high quality were a more important factor than price when consumers considered which electronic cigarette to purchase.

Nicocigs’ Head of Sales, Birju Pujara said,
“This is a fantastic report and really reflects how much hard work has gone into the business over the last few months. We have been working really closely with PMI throughout this transitional period to create a solid strategy which has shown that together, we have great potential. As our two companies start to integrate more we can only hope that this trend will continue and will be putting all of our efforts into ensuring that it does.”

The e-cigarette market usually sees a sales spike between October and January and if trends do continue, this will mean a further boost for Nicocigs. Only time will tell but if the forecast is anything to go by, things are certainly looking up for the Birmingham-based company.

*Source: Nielsen study of Value Market Share Development over 3 months, July – September 2014

**Source: PMI estimates based on Nielsen data collected in September 2014

CORRECTION: This release previously stated that Nicocigs was the only company to increase their market share post takeover, and that other e-cigarette companies’ sales had declined or plateaued. Nielsen data shows this is incorrect. Nicocigs apologises for this error.


ENDS

Note to editors:
Nicocigs Ltd was formed in 2007 and initially intended to supply an alternative smoking solution to pharmacies. Nicolites, the first offshoot of Nicocigs, was created to bring a more consumer focused brand to the market. Instead of becoming a pharmacy only product, Nicolites initially brought electronic cigarettes into independent stores and eventually worked their way up into national supermarkets.

From 2011, Nicolites sales increased exponentially and the introduction of the Vivid Vapours and Craze E-shisha brands in 2014 saw a further increase in market share for Nicocigs and established them as the firm market leader in the UK independent sector.

For more information visit www.nicocig.co.uk, www.nicolites.co.uk, www.vividvapours.co.uk and www.crazeeshisha.com.

Please contact Gemma Greenman, Communications Co-ordinator at Nicocigs Ltd, at gemma@nicocig.co.uk for more information, images or interviews.

This press release was distributed by ResponseSource Press Release Wire on behalf of Nicolites in the following categories: Consumer Technology, for more information visit http://pressreleasewire.responsesource.com/about.