The world of electronic cigarettes and comparable devices seems to be growing and expanding with new brands, manufacturers and models almost every month. Even though electronic cigarettes were not heard of within the general market less than a decade ago, it is rather difficult for you to not hear anything about these products nowadays. Case studies and experimental trials have been conducted that have proven that they are much healthier than traditional cigarettes, which clearly explains why companies such as Victory Electronic Cigarettes Corporation have been able to achieve a monumental level of success in a relatively short period of time.
A Brief Introduction and Overview
Victory Electronic Cigarettes Corporation is a Michigan-based manufacturer that develops and distributes electronic smoking devices as well as a wide range of different kits, accessories and other related products. The target objective that this particular company has strived to meet since they were first established in 2010 is to become the one-stop shop for electronic cigarettes for their computers, so that regardless of what they may need specifically when it comes to these devices they will not have to worry about going anywhere else besides Victory Electronic Cigarettes.
An Expanding Line of Products
As mentioned earlier, the actual electronic smoking devices are the leading products currently being sold by Victory Electronic Cigarettes Corporation. However, there are so many other products and accessories that are sold to complete the full experience within their expanding catalog. For example, consumers can purchase charger packs, carrying cases, disposable tobacco, cartridges, starter kits and many other related products that the average smoker would need. Since they were first established, the quality of their products overall has exponentially increased with each new release as they continuously strive to find new ways of pleasing their customers.
An Overview of Company Financials
Even though there still are not any finalized reports that reflect the financial status of Victory Electronic Cigarettes Corporation from 2013, the growth that they experienced between 2011 and 2012 truly speaks volumes. For example, they truly did not generate very much money at all and actually experienced more losses than gains in 2011. The consumer demand for electronic cigarettes honestly did not spike until mid-2012, so this was not the only e cigarette company that was suffering financially through 2011.
However, once the demand was able to peak, Victory Electronic Cigarettes Corporation was able to take off – generating $1.5 million in revenues. Since they spent $700,000 on cost of goods that were sold, this means that they generated a profit of $800,000. Even with their operating expenses, this means that they were still able to create a major safety net that would allow them to transition into the 2013 fiscal year with their heads held high – excited about what the future would bring.
Executive Team of Officers and Presidents
- Brent David Willis – CEO, President and Chairman
- Marc Hardgrove – President, Director, Cofounder of Online Division
- Robert Hartford – CFO and Treasurer
- Michiel Carmel – President of International Division for Victory
- John Perner – President of the Retail Division for Victory
Recent Acquisitions and Strategic Moves
Victory Electronic Cigarettes Corporation has clearly positioned themselves to have a solid year in 2014 in many different ways. First and foremost, they got the ball rolling to official acquire FIN Branding Group, LLC for $25 million in mid-February. They were also able to receive $20 million through a distinctive and elaborate round of funding in early January. The company was clearly able to issue a high level of convertible debt – especially since the minimum investment that was accepted from external investors was $50,000. Clearly, Victory Electronic Cigarettes Corp is making some pretty big moves behind the scenes that will allow them to maintain their competitive edge.