Kumulus Vape Reports First Quarter 2025 Results

Kumulus Vape, a key player in the sale of e-cigarettes, announced consolidated revenue of €13.9 million for the first quarter of 2025, representing a controlled decline of 9% compared to the previous year. The vaping market is undergoing a phase of structural adjustment, with growing demand for simple and efficient equipment.

The B2B segment remains dominant, representing 87.2% of total activity, while B2C and directly operated stores contribute 8% and 4.2% respectively. The reduction in the network of directly operated stores, now franchised, partly explains this decline in turnover.

Kumulus Vape continues its efficiency strategy, focusing on a diversified offering and an expanding franchise network, while adapting to an uncertain economic environment marked by inflation and changing consumer habits.