KURE Corp. has announced that it has retained JLL to provide project management services and strategic consultation on site selection and development of KURE Vaporium & Lounge locations across the United States. Currently, KURE has eight Vaporium & Lounge locations in the Carolinas and Florida that are areas under various stages of development and construction, all scheduled for completion by the summer of 2015.
“Having JLL advise the KURE team is yet another validation of our firm’s growth strategy and corporate vision, which is to become the leading brand and an industry trailblazer in the explosive growth of the e-cigarette and vaping market. We are already experiencing the benefits that JLL’s global platform brings, as evidenced by the approval of construction on a KURE store in a $14 billion National REIT’s AAA space,” said Dave Peterson, CEO of KURE.
The current value of the e-cigarette and vaping market in the United States is approximately $2.5 billion in annual sales with a growth estimate to nearly $17.6 billion by 2018 according to Wells Fargo Securities. Bloomberg projects that sales of these products to consumers will exceed those of traditional cigarettes by 2047.
“KURE stores fill the gap in the ‘vape shop’ market by offering a unique space for products that have a growing consumer base,” said Charlie Owens, Vice President of JLL leading the site selection process. “KURE is a successful operator, and now is the right time for the firm to expand. We are thrilled to facilitate an expected 100 store roll-out throughout key U.S. cities.”
For more information read KURE’s press release