JUUL has been around since 2015.
Who owns Joule?
Juul Labs, Inc. is an American electronic cigarette company that spun off from Pax Labs in 2015.
according to company WebsiteJuul’s mission is “to drive the world’s billions of adult smokers away from combustible cigarettes, to end their use, and to combat the underage use of our products.”
In 2018, Altria, one of the world’s largest cigarette makers, acquired a 35% stake in Juul Labs for $12.8 billion.
Altria is known for being the creator of marlboro cigarettes,
Casey Crosthwaite has been the President and CEO of JUUL Labs, Inc. since 2019.
How much does a joule cost?
Juul’s valuation has jumped over 85 percent over the years.
In 2020, Juul’s valuation of Altria fell to $4.6 billion, according to Reuters,
The company, which was once valued at $38 billion, is on a steep decline due to sinking sales and multiple lawsuits.
in 2020, new York Times reported that: “Sales drop by $500 million. Workforce has been cut by three-quarters. Operations have been abandoned in 14 countries. Many state and local lobbying campaigns have been shut down.”
on 22nd June 2022, wall street journal reported that Juul had a net loss of $259million and a 11% drop in sales to $1.3billion.
According to the outlet, as of March 31, Altria valued its Juul stake at $1.6 billion.
Can the Juul be taken off the shelves?
Juul became extremely popular among teenagers because of its taste Vape Legumes like mango, cucumber etc.
As a result, in 2019, the company ended sales of flavored products in the US as regulators pressed for action on e-cigarettes.
Consequently, in 2020, FDA Bans All Vaping Flavors Except tobacco and menthol.
Because of these strict regulations, Juul’s sales have plummeted and two years later, they are facing potential expulsion from shelves.
wall street journal “The Food and Drug Administration is preparing to order Juul Labs Inc. to remove its e-cigarettes from the US market,” reported Wednesday.
According to the outlet, health officials are planning the move after a two-year review of data from Juul Labs Inc.
“The FDA is separately moving forward on a plan to eliminate nearly all nicotine in cigarettes, a policy that would impact the $95 billion US cigarette industry…
“That rule would take years to go into effect and tobacco companies could sue to fight it.”