JTI Greek company doubles down on heated tobacco market, announces new investment of 300 million euros

JTI Greek company doubles down on heated tobacco market, announces new investment of 300 million euros

According to Insider, the Greek branch of Japan Tobacco International (JTI) recently established its position in the hot smoking product category under the Ploom international brand. The company is a member of Japan's international tobacco giants and has had significant investment, production, export and social impact in the Greek market over the past 43 years.

Media reports stated that Greece has become one of the top ten companies in the European market in introducing Ploom products with leading hot smoke technology, which reflects the company's important "milestone" in the Greek market.

Mr. Babis Thamnidis, Financial Director, emphasized: “Ploom is an ambitious premium brand that has achieved dynamic growth in the Japanese market. Japan is currently the fastest growing market in the warm cigarette category in the world. Promoted in the European market. Ploom targets adult consumers looking for new enjoyment experiences, combining attractive, modern design with advanced technology."

The company will therefore invest up to €300 million, which is expected to be completed within the next three years. "This strategic choice reflects Greece's rapid growth in this category of markets, while also recognizing JTI's stable, consistent and strong investment in our country," Mr. Sonidis explained.

JTI's investment in Greece began in 1981, and its success throughout the years has made it the number one company in the field of traditional tobacco products and the largest direct foreign investor and tobacco manufacturer in northern Greece. JTI took over the Xikang factory in Greece in 2018 and modernized the factory.

"This new investment is a sign of the company's confidence in Greece and a successful development in terms of its economic indicators," said Mr. Babis Sonidis.
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