Global vape innovator LOST MARY announced its strategic entrance into the Malaysian market, unveiling the local business plan designed to align with regulations and market dynamics in a firm commitment to protecting minors.
Beginning in 2021, the brand’s journey has been marked by continuous innovation with a robust presence in over 50 markets globally. And this latest push into Malaysia is a testament to their mission of bringing the brand and its quality products, while addressing the diverse needs of adult users worldwide.
Navigating the Malaysian landscape and future plans
As LOST MARY sets its sights on Malaysia, it enters a complex landscape of demand, popularity, and regulatory scrutiny. LOST MARY is committed to ensuring strict compliance with government regulations, particularly the passing of the “Control of Smoking Products for Public Health Bill 2023.” The company, as a responsible industry leader, has vowed to stay vigilant, remain informed and adapt its strategies in real-time to adhere to evolving regulatory standards.
According to Carlson Leong, country manager of LOST MARY Malaysia, “We are committed to complying with Malaysian market regulations as we venture into this dynamic landscape. Our dedication stems from our mission of providing our customers with high-quality, reliable devices. This is in tandem with our constant actions in collaboration with regulators worldwide, in removing unsafe and low-quality counterfeit vaping products with questionable standards and quality control.”
“As a key player, in Malaysia and other global markets, we are also advocating that vape products must be out of knowledge, out of sight, and out of purchase of children, in a longstanding vow to prevent underage groups from accessing vape products,” he added.
“Our moves extend beyond mere compliance; it is about fostering a safe environment that empowers consumers on their journey towards a lifestyle with reduced harms.”
Business plan for the Malaysian market
Exploring reliable business partners and channels is one of LOST MARY’s missions in 2024. Recognising the crucial role of distributors, the company aims to establish fruitful connections to deliver reliable and quality products to adult users, while also complying with the government’s rules to help establish a well-regulated and transparent marketplace to help reduce the occurrence of counterfeit and unsafe products. The company is also considering expanding product categories to meet Malaysian consumers’ diverse and ever-changing demands and palates.
In LOST MARY’s vision to become a trusted and responsible brand within the vape industry, it initially focused on West Malaysia and is gradually expanding to East Malaysia. The company plans to explore additional business partnerships and evaluate the potential establishment of brand stores or counters, contingent on business development progress and local regulations.
In their efforts to comply with regulatory compliance, LOST MARY, following its sister brand ELFBAR, is scheduled to rename a number of flavor descriptors – a measure it plans to implement globally to prevent underage groups from being attracted to vaping products.
Acknowledging the competitive nature of the Malaysian vaping industry, LOST MARY is committed to survival through continuous efforts in delivering high-quality and safe products with the best price-to-performance ratio.
Strategy and projections for growth
With LOST MARY’s new presence in Malaysia, the company is actively exploring local business partners to expand its distribution channels. The marketing strategy remains flexible to adapt to local government regulations, ensuring all actions comply with the evolving rules and regulations.
Recognising the competitive and dynamic nature of the Malaysian vaping industry, LOST MARY aims to become a leading vape brand in the country, mirroring its success in other global markets. The company is dedicated to R&D efforts and providing reliable products that cater to the demands of local adult users, positioning itself for substantial growth in the Malaysian market.
For country manager Carlson Leong, “We view ourselves not as disruptors or game-changers but as committed players contributing to the industry’s long-term growth and longevity in Malaysia. Our focus is on fostering a sustainable and responsible vaping landscape, aligning with local regulations and setting the standard for quality and compliance.”