Partners with Key Allies in
International Distribution including Middle East
DUBAI, United Arab Emirates-Thursday 12 March 2020 [ AETOS Wire ]
SNOWPLUS
has announced global investment results from 2019 through February 2020
amounting to approximately $125 million USD. The funding has come from
investors in Asia, North America, Europe and the Middle East.
The company
has confirmed funding from Hong Kong-based HK Rothsfortune Investment
Management Limited among other investors as it further prepares for
entry into global markets.
“We have
invested in SNOWPLUS because of their strong global strategy which sets
them up for success in both domestic and international markets,” said Charles Zhu, Managing Partner of HK Rothsfortune Investment Management Limited.
“With strong performance in the domestic market, SNOWPLUS has proven
that they are capable of achieving success and fulfilling their mission
of providing better smoking alternatives for adults at the global
level.”
This funding
has already seen the establishment of sales teams, partnerships and
other expansion efforts across four regions globally including North
America, Europe, the Middle East and Southeast Asia. SNOWPLUS has a
fully developed international strategy that involves responsibly
expanding into global markets by working with local industry players.
“This latest
round of investment puts us one step closer to realizing our vision of
providing better alternatives that satisfy adult smokers globally,” said Derek Li, Co-founder of SNOWPLUS. “Moving
forward, we will continue to innovate, applying the latest and most
cutting-edge technologies to our products to provide global adult users
the optimal vaporizer experience. We will also remain steadfast in
forging industry alliances and joint ventures with local companies.”
Progress has
already been made in deployment to these global markets, with the
building of teams in the UK, Canada and the Middle East.
“There
are over 100 million smokers in the Middle East, where the vaping
penetration is estimated to be only 5% among smokers. We have seen a
much higher conversion over the years in countries like the UK and
Canada. With more favorable sentiment from regulators followed by the
legalization of vaping products in the UAE, the Middle East is of
significant growth potential for us. Our products meet the standards set
by the Emirates Authority for Standardization and Metrology and we are
in the process of certification. We will participate in the World Vape
Show scheduled between June 3 and 5 this year. The change in rules
related to vaping that came into place in April 2019 opens up new
opportunities which we will invest in.” Derek-Li added.
Moving
forward, SNOWPLUS plans to leverage investment to further expand
worldwide, while maintaining a solid foothold in its home market of
China. With funding from respected industry players in the capital
market, SNOWPLUS is not only continuing its proven record of developing
top-of-the-line vaping products and technologies, but also paving the
way for a smooth entrance into key global markets that have a
demonstrated demand for vape products.
To learn more about SNOWPLUS, please visit www.snowplustech.com.
Contacts
Urvashi Kadam, +971503570206
urvashi@therevelationconsultancy.com
