Eonsmoke Secures Loan Financing to Invest into Further Expansion of American Electronic Cigarette Industry
Eonsmoke, a popular brand of e-cigarettes has just secured debt financing with an undisclosed mid-western financial institution to fuel further expansion of the Eonsmoke brand. The proceeds will be used for general working capital purposes. The company is a leading rechargeable electronic cigarette brand with significant market share in the convenience store industry.
Garfield, NJ (PRWEB) October 30, 2012
Eonsmoke has introduced 14 flavors in the past two years in operations and is planning to introduce several more. “We've expanded tremendously the past 12 months due to our corrugated plastic marketing strategy, introductions of new product flavors, and additional distribution throughout the United States,” said Gregory Grishayev , the CFO of Eonsmoke, LLC.
The electronic cigarette is a recent invention which allows an end user to smoke vapor instead of tobacco and still be delivered nicotine. There is a constant ever-evolving debate about the health concerns on electric cigarettes. Vapor cigarette sales have boomed over the last two years given Hollywood's intense promotion of the e cigs in movies and articles in print coupled with general acceptance of the product in convenience stores all over North America.
Numerous electric cigarette brands have either been acquired or seen Wall Street investment in the last year. Blu Cigs was purchased for $135 million dollars by Lorillard in April 2012 and Catterton Partners invested $20 million into NJOY; a leader competitor. The electronic cigarette industry is growing rapidly; estimated to do $500 million in sales in 2012. “There will certainly be more institutional investment going further within e cigarettes as the industry is forecasted to do over a billion next year in 2013,” said Gregory Grishayev.
About Eonsmoke, LLC.
Eonsmoke, LLC designs, markets, and distributes electronic cigarettes & accessories. The company's electric cigarettes are electronic devices that vaporize a liquid solution. The company offers its products, e-cigarettes & accessories under the Eonsmoke, Spirit Vapor, and Miami Cigs brand names. Eonsmoke LLC sells its e-cigarettes and other products through distributors and wholesalers, as well as directly to consumers through its Websites. The company is based in Garfield, New Jersey.
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