Philip Morris Weighs Cigar Sale Amid Smoke-Free Shift
Philip Morris International Inc. is considering selling its U.S. cigar business as part of its broader strategy to pivot towards smoke-free products. The company is reportedly seeking over $1 billion for the cigar division, which was acquired through the recent $16 billion purchase of Swedish Match AB. This move aligns with Philip Morris's goal to reduce its reliance on traditional tobacco products, with a target of smoke-free items making up two-thirds of sales by 2030.
- The potential sale of the cigar business highlights the increasing urgency for tobacco companies to adapt to changing consumer preferences and regulatory pressures in a declining smoking market.
- What implications might a successful sale have on Philip Morris's brand identity and its long-term vision for a smoke-free future?