The parent company behind globally renowned vaping brand VAPORESSO, SMOORE International Holdings (HKG:6969), has officially been listed on Forbes 2021 Global 2000. The list ranks the world's largest 2000 public companies, with the 2021 edition providing a close look at how some of the world's most prolific businesses adapted to the COVID-19 pandemic. SMOORE is the only vaping technology company to make the Forbes 2021 Global 2000 list.
Taking a snapshot of the world of business, the Forbes Global 2000 looks at independent data from FactSet Research Systems list to measure the world's 2,000 largest public companies using four equally weighted metrics: assets, market value, sales, and profits. Despite being a tough year for many around the world, across 2020 the companies on the Forbes Global 2000 list saw an average 47% increase in market capitalization to US$79.8 trillion, while revenues dropped 6% to US$39.8 trillion and profits down 24% to US$2.5 trillion.
SMOORE International appearing on the list gives credibility to both the company and the emerging vaping industry. This recognition is a representation of the company's performance throughout 2020 and growth in market share from 16.5% in 2019 to 18.9%. On the list, SMOORE is ranked 1521st overall, earning a spot at 1666th for profit and achieving a phenomenal rank of 463rd in market value. This disparity is a clear reflection of investors' interest in the industry and faith that SMOORE will continue to be an exceptional company in the coming years.
As the first vaporization-focused company to IPO, SMOORE's placement on the list confirms the legitimacy of the entire industry as a fast-growing alternative to cigarettes. With an expected compound annual growth rate (CAGR) of 28.1% from 2021 to 2028, the space has seen a lot of growth in popularity amongst consumers. Investors are also taking notice of this growth, with product quality and innovation being key components determining the success of large first-movers such as SMOORE International.
Driven to innovate, SMOORE has been leading the vaping industry since 2009 with over 1000 technology patents and more employees working in R&D than sales. Because the space remains relatively young, SMOORE is looking to fully establish its position as an R&D specialist by pushing the boundaries of technology and science. These discoveries and cutting-edge innovations are then worked into marketable products to be sold and distributed by SMOORE's sub-brands including consumer facing brands VAPORESSO, and technology brands FEELM and CCELL. Aside from vaping, SMOORE is proactively supporting the use of atomization technology in other industries around the world
Globally Recognized Sub-brand
As a consumer-facing brand under SMOORE, VAPORESSO was founded in 2015 in Shenzhen, China, and currently has a collective workforce of more than 1,000 people. The company's sales distributor network spans over 50 countries, positioning VAPORESSO as truly a global brand with a strong international reach. Supported by parent company, R&D giant SMOORE International, VAPORESSO has been setting new industry standards and further driving innovation in this emergingindustry.
In the face of a global slowdown due to the COVID-19 pandemic, VAPORESSO proved its commitment to helping its vast network of international partners abroad and, driven by a strong sense of social responsibility, launched a series of campaigns aimed at helping those most affected. Under the umbrella of VAPORESSO Care, these campaigns helped affected communities in Indonesia where VAPORESSO donated over 70 million rupiah and France where VAPORESSO worked with local partners to distribute food to needy people over Christmas.
Supported by parent company, R&D giant SMOORE International, VAPORESSO has been setting new industry standards and further driving innovation in this emergingindustry with many more to come.