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population reported smoking cigars within the last 30 days in 2018

In November 2020, voters approved Proposition EE, which raised the cigarette tax from $0.84 per pack on a phased schedule reaching $2.64 by 2027

Premium brands experience lower percentage growth because their products start from higher price points, yet the actual business impact from this change remains unknown

While offline retail remains our core strength, we are steadily expanding across marketplaces and D2C to reach consumers directly and build stronger brand visibility. D2C Builds Relationships While retail brings scale, D2C channels are emerging as an important long term play