PROVIDENCE – VaporFi, one of the largest retailers of e-cigarettes and vapor products in the U.S., has announced plans to open 16 new franchise locations in North America and South America this year, including a location in Providence.
The new brick-and-mortar stores, planned to open in six U.S. states as well as the Republic of Suriname, will expand VaporFi’s network of entrepreneur-owned franchises worldwide, and create “hundreds” of new jobs and ownership opportunities “in 2017 and beyond,” according to an Aug. 21 release.
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The company did not disclose how many local jobs the Providence store expects to create.
“What may seem like aggressive growth on our part is quite simply our response to strong consumer demand,” said Nick Moline, CEO of VaporFi. “Vaping is far more than a fad or a trend – it’s become the choice of informed people who make it part of their daily lifestyle, and VaporFi is a brand they can trust.”
The global e-cigarette market is expected to grow by $47 billion between 2015 and 2025, according to a Research & Markets industry forecast, and Wells Fargo & Co. anticipates 2017 sales to exceed $10 billion.
In addition to the Providence location, the 16 franchises slated to open in 2017 include seven locations in Atlanta, one in Baltimore, two in Honolulu, three in Tampa, Fla., one in an undetermined city in Pennsylvania, and one in Suriname, a small sovereign state on the northern coast of South America.
Earlier this month, VaporFi announced plans to further expand the company’s overseas presence with stores in China and the United Kingdom. The Miami-based company, described by some as the “Starbucks of vaping,” offers more than 30,000 unique flavor options for its e-cigarette and vapor products, and operates an e-commerce store at www.vaporfi.com in addition to its brick-and-mortar locations worldwide.
Kaylen Auer is a PBN contributing writer.
