Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) revealed that it has entered into a contract with The Vaping Group to launch its nicotine-free vapour products in the UK.
In a statement, Chill Brands said it is confident this partnership will improve the commercial prospects and near-term performance of its nicotine-free vapes.
The Vaping Group, as part of the agreement, will introduce the products to large retailers, category-specific chains, and independent outlets on behalf of the consumer goods group.
Sales are expected to commence this summer, and as part of the launch, Chill Brands will introduce an expanded range of nicotine-free vapes with puff counts greater than their nicotine counterparts that can’t be replicated due to tobacco restrictions.
“As the target for a smoke-free England by 2030 comes into view, the chance for Chill Brands to balance social responsibility with sizeable commercial opportunities could not be clearer,” said Chill Brands CEO Callum Sommerton in the statement.
The vaping market in the UK is estimated to be worth more than £3.5bn and is forecast to grow to £4.5bn by 2027.