By CHRIS MELLIDES
Vapor Hub International Inc., a leading vapor product company based in Simi Valley, Calif., announced Monday that it has made a significant improvement in gross profits, with expected sales growth anticipated for the new fiscal year thanks to the company’s increased marketing efforts.
Founded in 2008, Vapor Hub is responsible for releasing the Limitless Mechanical Mod and Binary Premium e-liquid brands, and claims that its revenue for the fiscal year ending June 30 rose to $6.5 million. That’s compared to $5.3 million, which was earned by the company in a comparable period ending late last June.
“Gross profit totaled $2.9 million for the fiscal year ended in 2016, and gross margins improved to 45.3 percent from 39.5 percent as [Vapor Hub] is now distributing more of its proprietary products rather than purchasing products for resale,” reads a statement released by the Southern California company.
Vapor Hub reported that 28 percent of its sales are international, a percentage it anticipates to increase with new marketing initiatives; with Euromonitor International, a London-based market research firm, predicting vaping sales to exceed $20 billion worldwide by 2020.
Chris Mellides is the Managing Editor of VAPE Magazine. A seasoned journalist, he has worked in all areas of the media industry since first getting his start in newspaper reporting ten years ago. Contact him at email@example.com.