Business & Markets
BIC targets US cannabis smokers for lighter sales
French company BIC is targeting US cannabis users as it seeks to sell more pocket lighters in the United States.
Chief executive Rob Versloot told analysts at a strategy update in Paris that marijuana use in the United States was growing faster than it had in the Netherlands. "There's a sizeable market to conquer," he said.
BIC, known for disposable pens, razors and lighters, has revived its "Flick my Bic" advertising slogan and used celebrity cannabis fans including Willie Nelson, Snoop Dogg and Martha Stewart in lighter ads.
The company has long focused on major US grocery and retail chains, but executives now see potential in smoke shops serving cannabis users. Haven Cockerham, head of BIC's North America operations, estimated that "between 15,000 and 20,000" such stores presented "a major opportunity".
Cannabis remains illegal at the US federal level, but most states have authorised medical use and more than 20 have legalised recreational use. Lighters generated about a third of BIC's sales in the first half, when overall sales fell 3.5 percent to just over one billion euros ($1.2 billion).
Source
AFP news report published on .