Collaboration between Papastratos and NOBACCO for low-risk products
Papastratos, a subsidiary of Philip Morris International (PMI), has entered into a strategic partnership with NOBACCO for the distribution of potentially reduced risk products, which will be in force as of October 7, 2021.
NOBACCO, through its extensive network of stores, will sell PMI products, such as IQOS tobacco heating devices and electronic vaping devices, which will be available in Greece by the end of 2021.
The agreement is part of Papastratos’ sustainable development strategy, which the company announced on the occasion of the 90th anniversary of its operation. Specifically, according to the first pillar of its new strategy, which concerns product innovation and the development of alternative solutions, Papastratos aims to reduce the number of smokers in Greece by 1.5 million by 2025, while, at the same time, has committed, by 2023, the 75% of its revenues to come from innovative products as an alternative to cigarettes.
Adult smokers will have more options
NOBACCO holds a leading position in the category of vaping products. Since its establishment in 2008, it has set as its main priority the promotion of alternatives to smoking. Today, it has a modern network of 61 physical stores and a strong presence in online sales. Its strategic partnership with Papastratos is expected to strengthen the dynamics of potentially reduced risk products, providing more choices to adult smokers.
“The target of 1.5 million fewer smokers in Greece, by 2025, requires more alternative and strong partnerships. We know that the more alternative products we offer to smokers, the sooner we will get to it. By keeping innovation and science at the heart of this effort, we are developing new, innovative platforms, and expanding at the same time, their network of availability across the country. Until yesterday, we were connected to NOBACCO with the vision of a cigarette-free world. From today we are uniting forces to make it a reality”, said Christos Harpantidis, president and CEO of Papastratos.
“Our strategic collaboration with Papastratos is fully consistent with our mission to stand by all those who are thinking of making the life choice, and leaving behind traditional smoking. Now, the available options for our customers are expanding with products worthy of the quality, innovation and safety that characterizes our range. I would like to thank Papastratos for its trust, which recognizes the 13-year-old effort to contribute to the reduction of smoking damage. We continue this effort, having with us a strong ally”, said NOBACCO CEO Markos Markopoulos.