The rapid growth of the vaping and CBD markets has seen UK and international retailer JM Wholesale move to a new premises in Leicester.
Established four years ago, JM Wholesale has experienced recent, rapid growth which has seen the company begin exports to suppliers around the UK, as well as to 170 countries worldwide. Having outgrown its original premises in the city centre, the company has now taken over a 50,000 square foot premises in Whetstone.
The site will include offices and warehouses, as well as a clean room, production facilities, a showroom and a conference room, in a six-figure investment by JM Wholesale on the fit-out.
Logie Rajan, CEO of JM Wholesale, said the new premises will last the company for another decade as he predicted ongoing growth for the business: “This move reflects our rapid expansion and our growth to take our position as one of the most prominent wholesalers in our industry.
“Specialists in business-to-business supplies, we are carving out a unique position in the vaping and CBD market. We have the widest range of vape and CBD products in the UK, to offer our customers, and we are increasingly offering a white labeling service to allow vendors to supply our products under our recognised brand.
“It’s an exciting time for everyone at the company and, on an individual note, I’m delighted to be able to supply employment and career development opportunities at a time when we’re all recovering from a difficult period in our professional and personal lives.”
Figures from Statista suggest that in 2019, the vape market in the United Kingdom generated revenue of an estimated USD$2.8bn, a figure which is set to rise to roughly $3.9bn in 2023. CBD use in the UK also has skyrocketed. In 2018, only around 250,000 Britons reported using CBD products, however, that number has reached 8.4 million in 2020.
Rajan added: “We now have all the facilities necessary to become the leader in our field, with lab testing facilities and the ability to carry out cutting-edge research and development.
“So as the CBD and vape industry continues to grow, as the public loses its inhibitions about the products we serve and as CBD use in particular becomes a more accepted method of treating medical and mental health problems, we’re in a great position to expand further.”