Electronic cigarette brand Supreme has agreed to sell the intellectual property of its electronic cigarette liquid brand T-Juice to a French wholesaler for 4.5 million euros (approximately 32.86 million yuan).
Supreme will retain exclusive manufacturing rights for T-Juice and plans to generate €15 million (approximately RMB 109 million) in revenue in the next five years.
This French wholesaler specializes in manufacturing, licensing, and distributing a range of fast-moving consumer goods and has established a strategic partnership with La Vape Professional Distribution (LVP), one of France's largest wholesalers of electronic cigarettes and e-liquid.
Supreme has stated that this agreement will allow them to focus on their core manufacturing technology and profit expansion, while also simplifying costs.
Moreover, LVP boasts extensive and comprehensive distribution channels, making it an ideal choice for fully leveraging the brand's development in Europe.
Sandy Chadha, CEO of Supreme, has announced that these agreements will allow the company to focus on its core strengths: leveraging its production capabilities to maximize profit potential in the short term. This not only provides a return on Supreme's initial investment but also secures a five-year production agreement, ensuring that the company is well positioned to fully utilize their market position and sales channels in Europe in collaboration with LVP.
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Vape manufacturer Supreme has sold the intellectual property of its e-liquid brand, T-Juice, to La Vape Professional Distribution.
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