EVO NXT | Fumot: Revenue in Spain Exceeds 1.2 Million USD in 2023, Focusing on Supporting Agents to Expand

EventsBusiness by 2FIRSTS Leona Zhu, edited by Sophia

Apr.05.2024

EVO NXT | Fumot: Revenue in Spain Exceeds 1.2 Million USD in 2023, Focusing on Supporting Agents to Expand

Fumot aims to triple revenue in Spanish market by 2024, focusing on agent support and local demand.

On April 5th at 11:00 AM local time, at the EVO NXT, a tobacco exhibition in Spain, 2FIRSTS spoke with Sunny, the sales director of the e-cigarette brand Fumot, to understand the development of Fumot in the Spanish market.

According to Sunny, Fumot currently has a low market share in Spain, with revenue from this market only exceeding 9 million yuan (approximately 1.2 Million USD) in 2023. The brand is now ramping up efforts to penetrate the Spanish market, hoping to triple revenue by 2024.

Regarding Fumot's core market strategy, Sunny stated that the brand will primarily focus on supporting agents, working together with them to develop the Spanish market, and ensuring that products meet the needs of the local market.

According to Sunny, Fumot has performed well in Western and Northern Europe, with Spain being a key market for expansion into Southern Europe. She further stated that the Spanish market is rapidly growing, with popular brands such as LOST MARY, ELFBAR, GOLD BAR, TYSON, among others.

In terms of regulation, Sunny believes that Fumot is ensuring that products in the covered areas comply with relevant regulations, and government oversight will help the brand's development. Therefore, she supports government regulation of e-cigarettes.

Also Read:

[1] EVO NXT | EU Nicotine Pouch Market Share Exceeds €900 Million with Over 100,000 Sales Points

[2] EVO NXT Opens with ELFBAR, SKE, TYSON, and Other Top Brands in Attendance

[3] 2nd EVO NXT to Kick off in Malaga, Spain, Joined by More than 70 Vape Brands

[4] Interview with EVO NXT Sponsor: European NGP Market is Flourishing

#Europe #Open system e-cigarettes #Market #Spain

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