Even global entrants are taking a measured approach
Notable examples include IQOS, Glo (brand value $2.3 billion in 2023), Vuse ($1.4 billion) and Velo ($580 million)
The fact that, in the 1920s and 1930s, cigarette companies like Kensitas also fed off this cultural fixation surrounding thinness, like the female beauty and fashion industries, further highlights how cigarettes became feminised after the First World War
By the early 1970s, RJ Reynolds and Philip Morris knew of a market for low-nicotine cigarettes, especially for smokers who want to quit. 3 A 1987 Philip Morris analysis identified this market as having the highest potential for growth, with concern for a less enjoyable product which will be easier to give up, and finally quit. 3 Philip Morris estimated the potential market share of a free standing de-nicotinised cigarette brand at 1.5% to 2% or 912 billion units. 3 In the 1990s, Philip Morris released reduced-nicotine cigarettes (e.g., Benson & Hedges De-Nic, Next, Merit De-Nic), 4 yet failed to promote them as safer
