JTI Greece has announced a new €300 million investment in the heated tobacco market

JTI Greece recently joined the heated tobacco product category under the Ploom International brand, making a significant impact on the Greek market. Greece ranks in the top 10 in the heated tobacco sector, and JTI is optimistic about the market prospects and plans to invest 300 million euros.

 

According to Insider’s report, the Greek subsidiary of Japan Tobacco International (JTI) recently established itself in the hot cigarette product type under the Ploom International brand. The company is a member of Japan’s international cigarette giants with significant investment, production, export, and social impact in the Greek market over the past 43 years.

 

According to media reports, Greece has become one of the top ten hot smoke technology leading Ploom products in the European market, reflecting an important “milestone” for the company in the Greek market.

 

Babis Sanidis, chief financial officer. BabisThamnidis stressed: “Ploom is an ambitious online brand that has achieved dynamic growth in the Japanese market. At present, Japan is the fastest-growing warm tobacco market in the world, and it is gradually promoted in the European market. Ploom is designed to find new adult customers, combining attractive modern design with advanced technology.”

 

As a result, the company will invest up to 300 million euros, which is expected to be completed in the next three years. “This strategic choice reflects Greece’s rapid growth in this type of market and recognizes JTI’s stable, consistent, and strong investments in China,” Mr. Sanidis explained.

 

JTI’s investment in Greece began in 1981. Behind all the successes of the past few years, JTI has become the number one company in the field of cigarette products in the past, as well as the largest direct overseas investor and cigarette manufacturer in northern Greece. In 2018, JTI took over the Xicam plant in Greece and modernized it.

 

Babis Sanidis said: “This new investment is the company’s recognition of Greece and marks the successful development of its economic indicators.”