Kaival Brands Innovations (NASDAQ:KAVL) today reported on the launch of Philip Morris Intl’s (NYSE: PM) custom-branded self-contained e-vapor product, VEEBA , in Canada.
The launch of a new product from a company is something that almost always brings a company into focus among investors and it is going to be interesting to see if the Kaival Brands Innovations Group Inc stock can garner attention from investors today.
On Tuesday, the Kaival Brands (NASDAQ:KAVL) entered the news cycle after it announced the launch of a new product named VEEBA in Canada. The product in question is a customized and branded e-vapor item. This was a significant new development for the company and comes close on the heels of a major new deal that Kaival Brands Innovations Group had signed a major worldwide licensing agreement with the tobacco behemoth Philip Morris Products SA.
In this context, it is perhaps also necessary to point out that Kaival Brands Innovations is also the exclusive distributor of all the products that are manufactured by the company Bidi Vapor LLC. Those products by Bidi Vapor are meant for consumers who are in the legal age nicotine user category. Now, coming back to the product that was announced yesterday by Kaival Brands Innovations, it should be noted that VEEBA had been developed in a customized fashion. If everything with regards to the licensing agreement goes through then Kaival Brands Innovations is going to start with the job of distributing the product in Canada.
The President and Chief Operating Officer of Kaival Brands Innovations, Eris Mosser, spoke about the developments as well. He noted that while the agreement that had been put in place with Phillip Morris was a major milestone in its own right, the launch of VEEBA is going to be another feather in the cap for the company. At this point in time, it is going to be interesting to see if the Kaival Brands Innovations stock can manage to make an upward move over the course of this week or not.