Spyder Cannabis Inc has announced that its specialty vape retail brand, 180 Smoke, has entered into a strategic supplier agreement with Yi Hao Ji Canada Ltd to offer RELX closed-pod vaping products across its corporate and franchise stores, e-commerce and wholesale channels.
Spyder said the closed-pod system is one of the fastest-growing sectors in the vaping vertical. It noted that in Canada closed vaping systems have a compounded annual growth rate of 25% between 2019 and 2024 and currently account for 44% of all vape-related sales, compared to 4% before 2019.
Yi Hao Ji Canada Ltd is part of Yi Hao Ji Technology Co, one of the largest distributors for e-cigarettes, 3C products, and fast-moving consumer goods in China. Starting with the strategy of RELX e-cigarette globalization, it has built a global sales and service network across Asia, Europe, and the Americas. Yi Hao Ji is the authorized strategic partner of RELX in Canada.
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"The high-level of interest in closed-pod systems is largely due to their portable nature, the concentration of nicotine salts and available popular flavours," Spyder chief operating officer Christina Pan said in a statement.
"This makes RELX a perfect fit for 180 Smoke. Fundamentally as a retailer, we believe in providing consumers with high-quality, curated options, carrying both local and international brands so we can educate and guide our adult consumers safely on their vaping journey and permanently quit combustible cigarettes.”
180 Smoke is a high-touch, experiential centre for vaping and like-minded products, where customers can learn more about RELX and its points of difference.
“This agreement not only provides access to one of Canada's largest online and in-store vaping customer bases but also its marketing services and knowledgeable sales associates that will give RELX - China's largest e-cigarette brand - an edge in the Canadian market," said Yi Hao Ji’s Ryan Yin.
Spyder is an established cannabis and vape retailer that owns and operates two licensed dispensaries under the brand SPDR Cannabis in Ontario and 28 vape retail locations across Ontario under the retail brands 180 Smoke and Spyder Vapes. 180 Smoke is a leading omnichannel Canadian vape retailer with a strong e-commerce presence and over 230,000 registered customers across its B2C channel.
Contact the author at stephen.gunnion@proactiveinvestors.com