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Electronic Cigarettes International Group, Ltd.  (ECIG)
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    Sector  Consumer Non Cyclical    Industry Tobacco
   Industry Tobacco
   Sector  Consumer Non Cyclical

Electronic Cigarettes International Group, Ltd.

Business Description

We are an independent marketer and distributor of vaping products and E-cigarettes. Our objective is to become a leader in the rapidly growing, global E-cigarette segment of the broader nicotine related products industry which include traditional tobacco. E-cigarettes are battery-powered products that simulate tobacco smoking through inhalation of nicotine vapor without the fire, flame, tobacco, tar, carbon monoxide, ash, stub, smell and other chemicals found in traditional combustible cigarettes. The global E-cigarette market is expected to grow to $51 billion, or a 4% share of the worldwide tobacco market, by 2030. The growth is forecast to come at the expense of traditional tobacco, not from new smokers entering the category. Numerous research studies and publications have recognized that E-cigarettes are a preferred method for smokers to quit, and the most effective.

We accommodate the various product preferences of E-cigarette users by offering a comprehensive set of products, including disposables, rechargeables, tanks, starter kits, E-liquids, open and closed-end vaping systems and accessories. Our products consist of durable components and nicotine liquids that undergo rigorous quality testing during production. Our global brand portfolio includes the FIN, VIP, VAPESTICK, E-CIG, PRO VAPOR and VICTORIA brands. We believe that this combination of product breadth and quality, combined with our effective brand strategy, resonates strongly with adult consumers who associate our products with ease of use, quality, reliability and great taste.

We operate within the rapidly growing and global E-cigarette industry, an emerging product segment that is taking market share from the $783 billion global tobacco industry. The American Cancer Society estimates that there are 1.3 billion tobacco smokers in the world, consuming approximately 6 trillion cigarettes per year, or 190 thousand cigarettes per second. Tobacco use is the leading cause of preventable illness and death, causing more than 5 million annual deaths worldwide according to the Center for Disease Control and Prevention (“CDC”). We believe E-cigarettes offer current smokers an alternative to traditional cigarettes.

The E-cigarette is still in the early stages of its market penetration, and thus is highly fragmented with approximately 250 brands worldwide according to the CDC. Primarily propelled by the cannibalization of the traditional tobacco industry, the global E-cigarette industry has recently experienced dramatic growth. According to Canaccord Genuity, E-cigarettes accounted for approximately $4.8 billion in 2014 of global retail sales, with approximately 44% of such E-cigarette sales generated in the U.S., 31% of sales generated in Europe, and 25% of sales generated in the rest of the world. Euromonitor also projects E-cigarette sales to be approximately $51 billion, or 4% of the global tobacco and tobacco alternatives market, by 2030. We believe that we are well positioned to benefit from, and take advantage of, these attractive market trends in the coming years.

E-cigarettes are a relatively new product segment that has only started to gain meaningful consumer traction during the past four years. We believe that all of our major competitors obtain virtually all of their components from the People’s Republic of China (“China”), with a few competitors sourcing flavoring systems in the United States and Europe. There are multiple sources for production of E-cigarettes in China, with most major competitors sourcing from two or three major factories, the same ones utilized by us. Warehousing and transportation is performed and/or organized either by the producers, or set up independently by us. Federal Express, DHL, Container Shipping, and other major global shippers and freight forwarders are all involved in the supply chain.

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