Philip Morris International (PMI) succeeded in establishing Iqos as the only profitable brand among tobacco alternatives.
Its heated tobacco device, which saw its market share grow by 1.2 points in one year, to 7.6%, has 19.5 million consumers in 68 countries.
“PMI sells more than a product, it also offers associated services, including efficient customer service,
explains David Beadle, sector specialist at Moody's.
It can also count on its e-shop and on trendy stores, which are reminiscent of those of Apple or Nespresso.
But the success of Iqos, a project on which PMI has bet a good part of the 9 billion dollars invested in alternatives to tobacco, varies enormously from one market to another.
In France, Iqos is struggling to take off.
In Japan, where it was launched in 2016, its market share is around 25%, and the brand is profitable.
“In countries where we can inform the consumer, adoption of the product is generally faster
,” confirms Emmanuel…
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