Business
Response to Media Speculation
Response to Media Speculation.
About this update from Supreme Plc
[{"type":"text","content":"\n\n13 September 2023\n \nSupreme plc\n(\"Supreme,\" the \"Company\" or the \"Group\")\n \nResponse to Speculation on Possible Ban of Disposable Vape Devices\n \nThe Board of Supreme (AIM: SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer products, notes the recent media speculation concerning the potential banning of disposable (or 'single use') vape devices in the UK aimed at mitigating underage vaping.\n \nSupreme welcomes any government initiative that seeks to tackle underage vaping. Supreme's overarching strategy has always been to support a tobacco-free UK by offering both credible and safer alternatives for nicotine consumption and to-date, Supreme's own brand, 88Vape, with approximately 1.3 million regular users, has played a significant role in assisting people in quitting smoking.\n \nThe UK Government, in its April 2023 'Achieving Smoke-free 2030' initiative, confirmed its view that vaping remains \"the most effective\" tool to ease smokers away from cigarettes. Notwithstanding potential legislative restrictions on disposable vape devices, Supreme remains confident that vaping is and will continue to be the most credible and effective alternative to cigarettes; in addition to disposables, consumers have access to both 'open system' vaping and 'pod' vaping systems, both of which offer more environmentally friendly alternatives to disposables.\n \nAt this stage, it is important to clarify that no new legislation will be implemented before the formal government consultation takes place.\n \nIn the event of a ban on disposables, Supreme expects that most of its current consumers would shift to one of these alternative forms of vaping. A recent YouGov poll commissioned by the Company suggests that only 6% of former smokers who now vape would return to smoking if disposable vape devices were no longer available. Supreme has a range of fully compliant alternatives across its longstanding 88Vape 10mls ('open system vaping') and Liberty Flights dot pro 'pod' system, both of which continue to report year-on-year growth for Supreme.\n \nIn addition, Supreme intends to launch its own 88Vape pod system as another alternative to its current range of disposables. Pod-system vapes are rechargeable and therefore better for the environment. \n \nSup...