From Miami Herald:
Miami-based firm to sell discount snuff
Posted on Tue, Feb. 26, 2008Digg del.icio.us AIM reprint print email
Bloomberg News
Miami-based Vector Group, parent of the fifth-largest U.S. cigarette company, plans to enter the snuff market with a spitless tobacco product that undercuts prices charged by Altria Group and Reynolds American.
Starting in May, Vector's Liggett Group will extend its Grand Prix cigarette brand into smokeless tobacco in Portland, Ore.; Raleigh, N.C.; and five other markets to compete with similar products from Altria's Philip Morris USA and R.J. Reynolds Tobacco Co., Liggett Chief Executive Officer Ronald Bernstein said Tuesday in an interview.
Americans smoke 1 percent to 2 percent fewer cigarettes each year, forcing manufacturers to shift to smokeless tobacco, a $3.7 billion market that's increasing about 6 percent annually.
Liggett, based in Morrisville, N.C., seeks to lure smokers and users of traditional snuff who want small pouches of finely ground tobacco containing nicotine and flavors such as wintergreen. The product goes by the Swedish name, ``snus.''
''Snus is an alternative that fits with what people are looking for,'' Bernstein, 54, said. ``There is now a market for these products.''
Miami-based firm to sell discount snuff
Posted on Tue, Feb. 26, 2008Digg del.icio.us AIM reprint print email
Bloomberg News
Miami-based Vector Group, parent of the fifth-largest U.S. cigarette company, plans to enter the snuff market with a spitless tobacco product that undercuts prices charged by Altria Group and Reynolds American.
Starting in May, Vector's Liggett Group will extend its Grand Prix cigarette brand into smokeless tobacco in Portland, Ore.; Raleigh, N.C.; and five other markets to compete with similar products from Altria's Philip Morris USA and R.J. Reynolds Tobacco Co., Liggett Chief Executive Officer Ronald Bernstein said Tuesday in an interview.
Americans smoke 1 percent to 2 percent fewer cigarettes each year, forcing manufacturers to shift to smokeless tobacco, a $3.7 billion market that's increasing about 6 percent annually.
Liggett, based in Morrisville, N.C., seeks to lure smokers and users of traditional snuff who want small pouches of finely ground tobacco containing nicotine and flavors such as wintergreen. The product goes by the Swedish name, ``snus.''
''Snus is an alternative that fits with what people are looking for,'' Bernstein, 54, said. ``There is now a market for these products.''
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