Chill Brands Group PLC UK Sales and Distribution Partnership (8624Z)
18 Mayo 2023 - 1:30AM
UK Regulatory
TIDMCHLL
RNS Number : 8624Z
Chill Brands Group PLC
18 May 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310.
18 May 2023
Chill Brands Group plc
("Chill Brands" or the "Company")
UK Sales and Distribution Partnership
Chill Brands Group, the international consumer packaged goods
company, is pleased to announce that it has entered into a contract
with a leading sales, distribution and marketing agent to launch
its range of nicotine-free vapour products to the UK market.
The Vaping Group ( www.vapinggroup.co.uk ) is a full-service
industry specialist with a footprint in hundreds of UK vapour
stores and access to tens of thousands of independent convenience
stores. As part of the agreement, they will represent Chill Brands'
vapour products through direct introductions to large retailers,
category-specific chains, and independent outlets.
The Company is confident that this partnership will
significantly improve its commercial prospects and the near-term
performance of its nicotine-free vapour products range. The Vaping
Group acts on behalf of some of the world's leading vapour brands
and has previously helped to take some of the industry's most
recognisable names to market.
The UK vaping market is estimated to be worth in excess of GBP
GBP3.5 billion and is forecasted to reach almost GBP GBP4.5 billion
by 2027. Once a recurring base of revenues has been established for
Chill Brands' products in the UK, The Vaping Group intends to
introduce the brand to the European market which is currently worth
in excess of GBP GBP8 billion. Appetite for nicotine-free devices
continues to grow across both geographies.
UK sales of Chill Brands' vapour products are expected to
commence during Summer 2023. As part of the launch, Chill Brands
will introduce an expanded range of vapour products including
disposable devices with puff counts that cannot be replicated in
equivalent nicotine devices due to tobacco restrictions.
Mike Shaw, Managing Director of the Vaping Group, said: "The
opportunity to support Chill Brands with the UK launch of their
vaping devices is not only very exciting but also incredibly
timely. Regulators and industry peers are crying out for answers to
the issues surrounding sustainability and social responsibility.
While Chill's devices will inevitably help with the full conversion
of smokers and vape users to nicotine free alternatives, the fact
that they may last up to five times as long as existing nicotine
vapes will also result in a reduced environmental impact. This
enlarged puff count also ensures Chill Zero can remain competitive
at a higher recommended retail price, elevating the brand beyond
the "pocket money" spend category while maintaining attractive
margins.
My team and I are thrilled to be working with Chill Brands and
look forward to the growth of the brand and its products within the
UK and Europe ."
Callum Sommerton, CEO of Chill Brands, said: "We are excited to
be bringing the Chill brand home to the UK and have great hopes for
our nicotine-free vapour products in the domestic market.
The UK has adopted a uniquely constructive approach to the
regulation and promotion of vapour products. Government agencies
understand the importance of harm reduction and have repeatedly
acknowledged the potential of vapour products as genuine tobacco
alternatives.
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. With the
support of The Vaping Group, we are confident that Chill Zero
devices can become the UK's leading name for nicotine-free vapour
devices."
About The Vaping Group
Established in 2017, The Vaping Group is a multi-service
marketing and sales agency specialising on the rapidly emerging
market for vapour products. During the last six years, The Vaping
Group has provided support in relation to brand activations, growth
marketing, trade advertising, sales and fulfilment for many of the
world's leading vapour companies. The Group benefits from close
connections to leading retailers and industry operators both in the
UK and overseas, creating value by acting as a seamless extension
to the teams of its clients. For more information, visit
www.vapinggroup.co.uk
About Chill Brands Group
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is concerned
with the development, marketing and distribution of wellness and
recreational products containing natural, functional ingredients.
The Company's proprietary product range is distributed by some of
the most recognisable convenience retail outlets in the US and
includes nicotine-free disposable vapour products that cater to the
rapidly growing market for tobacco alternatives. Chill Brands also
operates the chill.com e-commerce website, on which it is building
a marketplace of products from third-party brands.
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END
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