10% of its workforce has been laid off as China bans online-cigarette sales. FMTNews
December 20, 2019 5:28 PM
Ao Weinuo, secretary of the Electronic Cigarette Industry Committee, late on Thursday said media scrutiny of vaping in the United States, the largest e-cigarette market, has also caused demand to wane just as China banned online e-cigarette sales. The downturn comes after the success of e-cigarette firm Juul in the United States prompted investors in China to pour money into startups with products mimicking Juul’s compact size and potent nicotine formulation – startups that industry watchers say are now saddled with excess inventory.
Another person at a factory of 300 workers said orders have fallen 30% since their peak, and that management will consider layoffs if the regulatory environment does not improve next year. “We’re under a lot of stress,” the person said.
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