Totally Wicked, one of the UK’s largest independent vaping retailers, on Friday unveiled plans to expand and said Brexit could be good for the industry.
Finance chief Ben Williamson said leaving the bloc “potentially provides a significant opportunity for the UK vaping sector if we are freed from EU imposed regulation”.
He added: “The UK has adopted one of the most pro-vaping stances in Europe and this has contributed to the significant fall in tobacco use in the UK versus the rest of Europe.”
Totally Wicked, which has 140 stores, plans to open 40 more next year. Its London outlets include branches in Edmonton, Kilburn, Hammersmith and Barnet.
Turnover in the year to March rose 6.7% to £48 million. Pre-tax profits dipped to £9.5 million from £9.9 million.
Williamson said: “Consumers use our products because they want to reduce or completely stop using tobacco.”
Elsewhere today, Altria, the tobacco giant behind Marlboro, said it will cut several of its e-cigarette products because the US Food and Drug Administration fears vaping is popular with children. Altria will support a US move to make 21 the minimum age for buying tobacco products.
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