Vape distributor Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF), whose Chill ZERO nicotine-free vapes are found in major retailers across Britain, has responded to the UK government’s announcement of a sweeping ban on disposable vape products.
Chill Brands said it is already preparing to launch a fully compliant reusable pod system vapour device and will accelerate its efforts to bring this product to market.
The company will work with its existing contracted retailers to prepare them to stock this range extension while they continue to sell through the existing range of Chill ZERO products.
As part of this range extension, Chill Brands intends to introduce products that will provide users with a means to gradually reduce their nicotine intake.
“The vaping landscape is constantly evolving, creating opportunities for businesses that are able to navigate the regulatory environment,” said chief executive Callum Sommerton.
“The Chill brand has gained rapid traction with the support of major retailers, and I am confident that it will continue to do so as we move forward with our plans to launch reusable pod system vapes.
“Chill Brands Group is an agile company, and we are prepared to adjust to any legislation that may be enacted.
“In the meantime, our existing high-puff count and rechargeable devices will continue to be sold by US and UK retailers who have demonstrated a strong appetite for products brought to market under the Chill brand."
The government intends to ban disposable vapes to tackle the rise in youth vaping.
Under the plans, the government is introducing new fines for shops in England and Wales selling vapes illegally to children.
Flavours specifically marketed to children will be restricted, while manufacturers will be forced to produce plainer, less visually appealing packaging.
“As any parent or teacher knows, one of the most worrying trends at the moment is the rise in vaping among children, and so we must act before it becomes endemic,” Prime Minister Rishi Sunak said on Monday.
He added: “The long-term impacts of vaping are unknown and the nicotine within them can be highly addictive, so while vaping can be a useful tool to help smokers quit, marketing vapes to children is not acceptable.”
Yet Chill Brands noted that research conducted by the University College London (UCL) and funded by Cancer Research UK determined that a ban on disposable vapes would “adversely affect millions of UK adults”.
“This study adds to a growing body of evidence that clearly demonstrates the important role played by disposable vapes as a smoking cessation tool,” Chill Brands wrote in a statement.