RELX Guangdong
Founded in January 2018, RELX is a very young e-cigarette brand, and just a few months after that, RELX became the best-selling e-cigarette in China. In June of the same year, RELX received RMB 38 million in financing led by Source Code Capital and followed by IDG Capital, becoming the darling of capital. Affected by the smoking ban and the epidemic one after another, RELX's market share increased from 53.43% to 63.08% in the first quarter of 2020, and it was invited to participate in the e-cigarette legislation of New Zealand and the Philippines in April, ranking firmly in the leading position in the e-cigarette industry. RELX has become a leader in domestic e-cigarettes, which reminds people of the strong development momentum of JUUL in those years. E-cigarettes are mainly composed of three parts: cigarette sticks with batteries and chips, atomizers, and cartridges/oil, and the technical threshold is low. The three major components that make up e-cigarettes are also mainly provided by upstream manufacturers, and the brand itself has little bonus. Since the components and atomization principles of e-cigarettes are basically finalized, major manufacturers can only work taste and user experience. So far, the development of e-cigarettes has undergone three generations of transformation. The first generation of products rose in the country with the promotion of smoking cessation, but due to the inability to provide...