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Veev

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VEEV
VEEV One (top) and VEEV Now (bottom)
Product typeElectronic cigarette
OwnerPhilip Morris International
Introduced2016
Related brandsIqos
MarketsWorldwide
Websitewww.veev-vape.com

Veev (stylised as VEEV) is a brand of electronic cigarettes (e-vapor products) manufactured by Philip Morris International (PMI).

The first electronic cigarettes manufactured by Philip Morris International were launched in 2016 in the United Kingdom under the name Veev Mesh, in reference to parts of the technology used by PMI's e-cigarettes, before being discontinued in 2020.[1]

Veev devices were then gradually rolled out from 2020 onwards, either as a standalone brand or as an element of the broader Iqos portfolio. A disposable line named Veeba was launched in Canada and the UK in 2022, before being rebranded as Veev Now as it expanded in a number of other markets. The reusable Veev product has transitioned to Veev One.[2]

History

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Philip Morris International announced in November 2013 its intention to enter the electronic cigarette market by developing its own technology.[3] It also acquired the UK's largest e-cigarette manufacturer Nicocigs in 2014, which owned the 'Nicolites' and 'Vivid' brands: these products were distributed by PMI's UK affiliate until 2019.[3][4] In 2015, PMI also entered into an agreement with Altria to distribute its "MarkTen" e-cigarettes, which PMI renamed "Solaris", in Spain and Israel.[3] Sales were discontinued in 2020.[3]

In 2016, PMI launched its first internally developed e-cigarette under the name Mesh in some UK cities as part of a test phase, before undergoing wider distribution nationwide from 2018.[3]

In 2019, PMI CEO André Calantzopoulo announced the imminent international launch of a new generation of Philip Morris e-cigarettes.[3] Veev Mesh was withdrawn from the UK market in April 2020. PMI created the Veev brand (marketed as Iqos Veev in some countries) to replace it.[3] The international launch of Veev was severely impacted by the Covid-19 pandemic.[5]

Veev e-cigarettes were first available in September 2020 in New Zealand, later rolling out to 10 other countries including Italy where they had captured 20% of the local e-cigarette market by the second quarter of 2022.[3][6]

2022 saw the launch of Veeba, a disposable vaping product, in Canada, followed by the UK.[6][7] The product is being rebranded as Veev Now during the course of 2023 as part of its worldwide expansion.[2]

Controversies

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The portfolio of Veev products is marketed by PMI as an alternative to cigarettes to help adult smokers switch to smoke-free alternatives, along with heated tobacco (Iqos) and oral smokeless (Zyn) products in PMI's portfolio of smoke-free products.[8][9] However, several authors have questioned Philip Morris International's commitment to helping smokers switch to its alternative devices: in March 2022, Professor Robert K. Jackler of Stanford University School of Medicine stated: "It seems clear that PMI's Smoke Free Future campaign is not focused upon smoking cessation, but rather legitimizing and promoting alternative nicotine delivery systems, such as its Iqos heated tobacco and their e-cigarette."[10]

In August 2022 PMI was criticized for a program in Australia, where e-cigarettes can only be sold with prescriptions in pharmacies, proposing to pay pharmacists to share Veev-branded scripts with patients.[11] The company confirmed that "the program never commenced".[12]

References

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  1. ^ LaSarre, Devin (2022-08-07). "Philip Morris International $PM: Analysis, Valuation, and Pricing, Comprehensive, 2022". Invariant. Retrieved 2024-01-11.
  2. ^ a b Jason Tian (2023-05-29). "Are Philip Morris' Disposable Product VEEBA Selling Without Publishing by the MHRA?". 2firsts.com.
  3. ^ a b c d e f g h "E-cigarettes: Philip Morris International". TobaccoTactics. 2022-12-15.
  4. ^ Ese Erheriene (2014-06-26). "Philip Morris Strikes U.K. E-Cigarette Deal". Wall Street Journal. ISSN 0099-9660.
  5. ^ "Newer Nicotine and Tobacco Products: Philip Morris International". TobaccoTactics. 2023-02-09.
  6. ^ a b Librarian Capital (2023-02-10). "Philip Morris: Solid Q4, Multiple Growth Drivers For 2023 Onwards". SeekingAlpha.
  7. ^ Stefanie Rossel (2022-10-03). "Poised for Growth". TobaccoReporter.
  8. ^ "PMI to Launch IQOS VEEV in Several Markets Throughout The Year". Vaping Post. 2021-03-23.
  9. ^ Keren Lentschner (2022-06-19). "Philip Morris s'invite sur le marché de la vape". Le Figaro (in French).
  10. ^ Robert K. Jackler (2022-03-02). "Propaganda Crusades by Philip Morris International & Altria: "Smoke-Free Future" & "Moving Beyond Smoke" Campaigns" (PDF). Stanford University School of Medicine.
  11. ^ Cait Kelly (2022-08-04). "Tobacco giant's cash for vapes scheme paused after backlash from Australian health experts". The Guardian.
  12. ^ Tim Elliott (2023-06-17). "'It's a joke': Why young vaping addicts say regulations won't work". The Sydney Morning Herald.
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