SHENZHEN, China--(BUSINESS WIRE)--VOOPOO, a leading vape manufacturer, recently released a review on its development, revealing the underlying driving force of its success against the market backdrop of complicated international relationships, rising operation cost, intensifying competition, and product similarity � the four major innovation models, namely technological innovation to provide long-term momentum, system innovation to ensure lasting vitality, operating innovation to expand company footprint, and product innovation to increase market share.

Innovation Model 1 - Technological innovation to provide long-term momentum

Technological innovation, as the foundation, provides a steady impetus for development. VOOPOO has established the strategic concept of investing in technological innovation and developing leading and original technologies.

In 2017, VOOPOO creatively developed the GENE series chips, and collaborated with DRAG to set the world record for fastest ignition speed at that time. Products were loved by more than 4 million users around the world, and are still regarded as an industry icon. In 2019, the innovative size-compatible VINCI became a new trend in Mod Pod. In 2020, DRAG X/S became one of the best-sellers in the world with its super performance and innovative metal-leather design. In 2021, VOOPOO innovatively explored the PNP/TPP/ITO vape platforms, starting to set the new technical standards in the industry.

It is with in-depth research and systematic control of market segments, keen focus on products and technologies, the pioneering and innovative spirit, and the belief in technological innovation, that VOOPOO has proceeded forward in the global market and won the trust of global users.

Since scientific and technological innovation is the primary productive force of an enterprise and the only way to achieve a global leading position, VOOPOO has set up the global innovation center with more than 500 R&D technicians working on projects at the same time. VOOPOO�s innovation model will bring the company more technological breakthroughs and promote the implementation and development of its global strategy.

Innovation Model 2 � System innovation to ensure lasting vitality

System innovation, as the soul, builds an open innovation platform, forms a sound structure from the entire group to each business department, and creates a high-value model for enterprise development. VOOPOO implements a four-level R&D system from research to product development: an innovative platform model integrating research institute, PhD researchers, expert consultants, and innovation projects covering multiple fields such as basic research, new materials, innovative atomization, HNB technology, intelligent manufacturing and modern logistics.

As of 2022, VOOPOO has applied for more than 1,000 cases of intellectual property, and has 3 R&D centers around the world covering basic research, vaping innovation, chip technology, and life science. In addition, VOOPOO has built 6 manufacturing and processing centers which are in line with Good Manufacturing Practice (GMP), covering a total area of 120,000 square meters. At the same time, VOOPOO also cooperates with many universities on innovative materials to build a forward-looking R&D system integrating production, academy and research.

In order to protect independent intellectual property rights and also stimulate creativity, VOOPOO has established a global, full-service, full-process intellectual property management system. In view of the increasing number of competitors and competitive products as well as the rampant counterfeiting, VOOPOO has applied for nearly 600 trademarks around the world, and registered defensive trademarks at the same time to prevent preemptive registration of the same or similar trademarks by third parties, so as to avoid �free riders�, thereby defending the company�s brand and reputation.

In March 2022, VOOPOO�s core trademark was included in the �2021 Guangdong Provincial Key Trademark Protection List�. It is worth noting that among the 580 trademarks on the list, only 3 are from the vaping industry.

In addition, in order to promote compliance and standardization in the global market, VOOPOO implemented the compliance strategy and set up the global compliance department early in 2019. VOOPOO was also deeply engaged in the compilation of China�s GB standard, and has submitted the American PMTA (VOOPOO is among the first batch of PMTA applicants) and involved in the European TPD3 standards.

Innovation Model 3 � Operating innovation to expand company footprint

Operating innovation, as the effective means, enables the company to be open-minded, share resources, build industrial chains, and achieve further growth.

In the Era 1.0 of operation, the upstream is about production, the midstream is about marketing, and the downstream is about channels. They are clearly distinctive to each other and each part can profit greatly. In the Era 2.0, upstream, midstream and downstream obviously become inseparable. Production, marketing and channels are closely intertwined. The ecology of the full industry chain reflects the current strategic demand of terminal consumption, channel distribution and transboundary cooperation.

Based on industry needs, VOOPOO has built the diversified strategic business structure to fully serve the needs of all parties. The company has formed a full industrial chain of vape integrating R&D, production, branding and channels, and has achieved differentiated, unique and irreproducible advantages through the integration of the industrial value chain.

At present, VOOPOO has established absolute market competitiveness on a global scale with more than 200 reserve products every year for different markets in the world. Within 3 years, it has established long-term cooperation relationships with partners in more than 70 countries and regions, and opened 6 overseas branches focusing on localized operations in the United States, UK, Indonesia, Canada and other countries. It has set up a network of 100,000 outlets around the world to shape its global brand influence.

Innovation Model 4 � Product innovation to increase market share

The VOOPOO-style innovation is ultimately product innovation, which further brings VOOPOO a more solid market position.

In the previous 2021 Ecigclick Vape Awards, VOOPOO won the Best Vape Kit For Beginners, the Best POD, the Best MOD, and the Best Sub Ohm Tank respectively with its four products ARGUS, DRAG Nano 2, DRAG 3, TPP-X. The awards reflected VOOPOO�s user-oriented consumer insights and diversified product innovation.

With the evolution of the market environment and technological innovation, users� demands for vaping products are also constantly upgrading, and scenario-based, lightweight and multi-functional products are increasingly favored by the market. In view of this and driven by user value, VOOPOO decided to enter a new era by launching a portfolio comprising four core product series, DRAG, VINCI, ARGUS, and V, to provide users with more accurate product solutions and to continue to upgrade user experience and explore the global market.

Adhering to the four models, VOOPOO-style innovation has set a good example for the development of vaping companies.

In today�s fast-changing world, long-term thinking for the future is becoming more and more important. VOOPOO will continue to pursue the value guided by the long-term thinking. Confronted with the obstacles commonly shared by the industry, VOOPOO is taking a unique path of innovation development.

�Long-term investment in technological innovation should be planned in a long-term manner. We must dare to embrace uncertainty and strengthen cooperation with partners to truly realize the integration from technology to products,� noted EVEREST, Founder and CEO of VOOPOO.

VOOPOO firmly believes that good products are the foundation of the sustainable development of the industry. The company should be a friend of time and a pioneer of technology, and work with users and partners to jointly drive the sustainable development of the industry. The future will definitely belong to long-termism, and VOOPOO look forward to engaging more partners in its development.

WARNING: This product may be used with e-liquid products containing nicotine. Nicotine is an addictive chemical.

The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.

Contacts

Wind Chen

Phone number: 0086-18718743237

E-mail: [email protected]

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