(Bloomberg) -- Although San Francisco is home to America’s most popular e-cigarette brand, city officials are signaling that they want nothing to do with Juul.The city will hold a final vote Tuesday to ban sales of e-cigarettes, making it illegal to sell nicotine vaporizer products in stores or for online
-- Although San Francisco is home to America’s most popular e-cigarette brand, city officials are signaling that they want nothing to do with Juul.
As cigarette use in the U.S. declines, tobacco companies have looked to other areas for revenue growth. Altria Group Inc., which sells Marlboro cigarettes in the U.S., bought a 35% stake in Juul Labs Inc. last year, valuing the startup at $38 billion. Juul told investors last month that revenue rose to $528 million in the first quarter, as international sales took off.
Juul has a backup plan: Put the issue in front of voters. The company said it has collected the required number of signatures to add a measure to the November ballot that would keep e-cigarettes available for purchase in the city to adults over 21. Juul is the major financier behind the Coalition for Reasonable Vaping Regulation, which has been collecting signatures.
“We’ve seen a tremendous increase in use of e-cigarettes, which has led to increased rates of nicotine addiction among young people,” Herrera said. “I don’t think San Francisco is any different from any other city.”
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