TAAT Menthol is the First TAAT Variety to be Sold Out and Reordered by Ohio Tobacco Retailers
During the initial weeks in which TAAT Original, Smooth, and Menthol were available for purchase by legal-aged smokers in Ohio, the TAAT Menthol variety was the first to be reordered by tobacco
retailers who sold out of this variant. Prior to launching TAAT in the United States, the Company issued a press release detailing its intent to place a strategic focus on the menthol cigarette
segment. The market for menthol cigarettes is valued at approximately USD $80 billion globally, and menthol cigarettes represent about 45% of combustible tobacco sales in Pennsylvania, a
neighbouring state to Ohio.
LAS VEGAS and VANCOUVER, British Columbia, Jan. 12, 2021 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT”) is pleased to announce that the Menthol variety of TAAT, its flagship product, was the first to sell out during the initial weeks of availability of TAAT products at retail in Ohio. Tobacco retailers who sold out of TAAT Menthol have placed reorders through their respective tobacco distributors who carry TAAT. The Company continues to focus its efforts on commercializing all three varieties of TAAT in a balanced manner to legal-aged smokers in the state of Ohio, while continuously analyzing sales data for TAAT Original, Smooth, and Menthol to develop strategies that are specific to each product variety based on actual market performance.
In a press release dated July 3, 2020, the Company outlined its provisional strategy for gaining market share in the menthol subset of the USD $814 billion global tobacco industry, a segment which was valued at approximately USD $80 billion in 2018 by Grand View Research1. Menthol cigarettes, which were invented in Ohio in 19242, gained popularity due to the unique “cooling” sensation from added menthol (C10H20O). The first major brand of menthol cigarettes in the United States, known as Kools, advertised “throat comfort” as a defining attribute in comparison to traditional tobacco cigarettes. Major tobacco companies began offering standalone brands of menthol cigarettes beginning in the 1950s including R.J. Reynolds (Salem), Lorillard (Newport, Spring), and Philip Morris (Alpine)3. Menthol cigarettes remain immensely popular in the United States, with Newport menthol cigarettes holding a market share of approximately 14%, second only to Marlboro4.