On July 20, vape maker Myst Labs has chosen supply chain consultants Eternal Asia as their agent in China, planning to open 3,000 Myst Labs and 30,000 retail stores by 2022.
Myst Labs was founded by XING Chenyue, inventor of nicotine salt. The company’s R&D headquarters is located in Palo Alto in the US. Eternal Asia turned over nearly 100 billion (US$15 billion) yuan in 2020.
Due to a ban of online sales, e-cigarette companies are seeking to expand their offline outlets in China. Earlier this year, Telling became the agent of Vvild and Boulder. Another supply chain giant Aisidi has allied with Relx. Both suppliers were backed by state-owned assets.
The Chinese vaping market, worth 500 million yuan in 2013, had increased to 8.4 billion yuan by last year, and is expected to reach 10 billion yuan this year.