Vaporin, Inc. (VAPOD) distributes and markets vaporizers, e-liquids and e-hookah products. Leveraging a multi-pronged revenue model, the company’s growth strategy includes tapping into convenience store sales and online retail continuity programs as well as the acquisition and opening of brick and mortar retail stores.
Vaporin's flagship vapor technology offers the look, feel and taste of traditional cigarettes without any tar, tobacco, smoke and odor. Additionally, vaporizers offer a better quality experience with a more satisfying hit compared to e-cigarettes and have the ability to mix and match flavors. Due to these and other advantages, Bonnie Herzog, senior beverage and tobacco analyst at Wells Faro Securities, believes vapor consumption alone will surpass combustible cigarettes in the next decade.
The company’s vaporizing products can also be used to consume cannabis in oil, wax and dry herb form. Medical marijuana is now legalized in 23 states and the market is expected to grow by 64% this year to reach $2.34 billion in sales. Through an exclusive distribution agreement with Terra Tech Corp., Vaporin anticipates rapidly increasing the exposure of its brand in this rapidly growing market via an expanding dispensary network in California, Colorado, Washington and Oregon.
In just the past year the number of vape shops has increased more than 300% to over 30,000 stores, and the industry is projected to grow to $51 billion in 2030 by industry experts. Along with its other initiatives, Vaporin has plans to ambitiously grow their retail store model by continually acquiring existing stores as well as opening new locations. As a first mover primarily focused on this burgeoning market, the company is ideally positioned with a full line of products and e-liquids.