August 8, 2016 was a red-letter day in the e-cig and vaporizer industry. In case you’re not aware, that was the date that the FDA identified as the “freeze date” beyond which the e-cig industry would not be able to release any new products that had not been through their new deeming regulations. But if you’ve tried to read up on these guidelines and regulations, you’ve probably found it reads pretty much like stereo instructions (remember stereos?). So we wanted to give you some simple facts to explain what this means for you, our customer.
1. There’s recently been a flood of new e-cigs, vaporizers, and e-liquids into the market.
This has occurred because all the e-cig and vape companies knew about the August 8 date and wanted to get things onto the market before it. V2 is no exception. In the last few months, we’ve launched our e-liquid marketplace, our VERTX micro-cig, and more.
2. Some of these products may not be safe.
While we don’t have detailed insight into any of our competitors’ product lifecycles, we do want to assure you that V2’s new products underwent the same rigorous testing and safety measures that we’ve always had. Our customers are more important to us than rushing to market.
3. The report language is confusing.
Many reports are saying that “MO” and “RAI” are expected to be the companies that benefit the most from the FDA’s deeming regulations. These are the NASDAQ symbols for big tobacco players, with “MO” being Altria, the parent company of Philip Morris, and “RAI” being R.J. Reynolds. It makes sense that these players would benefit most from regulations – after all, they’re intimately familiar with regs and the FDA after years of battling for traditional tobacco.
4. E-cig and vape shops will not all go out of business.
The reports also predict that these traditional tobacco manufacturers will push the true e-cigs and vape shops out of business. This may be true for a lot of smaller players; the costs to get products approved by the FDA will be very high. But V2 is well positioned in this market and we expect to thrive as smaller, less reliable players are weeded out.
5. Innovation may suffer temporarily.
Many industry experts are concerned that innovation will be limited in this new landscape. It is true that the costs to get new technology to market will be prohibitive for new players. However, V2 will continue to innovate, jump through the hoops the FDA sets for us, and bring our customers the cutting edge e-cig technology you’re used to from us.
The bottom line is that regulations are expensive and time consuming. But they also have the effect of protecting you, the consumer, from poorly conceived and designed e-cigs, vaporizers, and e-liquids. We’re confident that when the rubble settles, V2 will be one of the few left standing proudly, and we thank you for your continued patronage which makes that possible.