SHANGHAI (Reuters) – U.S. e-cigarettes maker Juul Labs Inc, which faces a widening crackdown on vaping at residence, has entered China, with on-line storefronts on e-commerce websites owned by Alibaba Group and JD.com to faucet the world’s largest market of people who smoke.
FILE PHOTO: Juul model vaping pens are seen on the market in a store in Manhattan in New York Metropolis, New York, U.S., February 6, 2019. REUTERS/Mike Segar
Juul, through which tobacco large Altria Group owns a 35% stake, has been launching its merchandise in worldwide markets resembling South Korea, Indonesia and Philippines. It just lately raised over $750 million in an expanded funding spherical.