KT&G and Philip Morris International (PMI) are set to jointly make inroads into overseas markets with the next-generation e-cigarette "lil."
KT&G and PMI held an event called ‘KT&G-PMI GLOBAL COLLABORATION’ in Seoul on Jan. 29 and signed a contract to supply products for overseas sales of e-cigarette ‘lil’.
Under the deal, KT&G will supply "lil" products to PMI, which will be available for sale in countries around the world except Korea.
Confirming the market's performance, the two companies agreed to establish a global cooperation system to help them release their products in more countries, and to make efforts to quickly sell their products within this year.
There are four types of KT&G products -- cigarette-type e-cigarette "lil hybrid," "lil Plus," "lil mini" and liquid-type e-cigarette "lil vapor." They include innovative products that will be released in the future. On the brand names of products that will be sold overseas, the two companies are considering including "lil" and "IQOS," which are currently in use.
Since its debut in 2017, KT&G’s "lil" has become an influential e-cigarette brand in the Korean market, receiving favorable reviews from consumers in terms of convenience and portability. In particular, ‘lil hybrid’ was unveiled at various international fairs last year, drawing enthusiastic responses from foreign buyers.
In response, KT&G selected PMI, a major global tobacco company, as its partner in order to secure its distribution network and expand its overseas presence of lil, which has been recognized for its product capabilities at home and abroad.
PMI also chose KT&G as its strategic partner, allowing the company to further strengthen its portfolio of innovative products through "lil."
“I am happy to sign a contract with KT&G," said PMI Chief Executive Officer Andre Calantzopoulos, adding that the deal will further expand the satisfaction and choice of smokers around the world, which will utilize PMI's resources, knowledge and infrastructure together with KT&G's e-cigarette products.
