TOB_Magazine

[ 2 ] TOBACCO BUSINESS [ MAY / JUNE | 18 ] I Innovation goes hand in hand with entrepreneurship. The ability to produce new ideas, pioneer new products and provide better solutions in business is key to growing your brands. You can rise and grind and put in 100 hours each week, but if you’re not innovating, you’ll never achieve breakthroughs and success. The entrepreneurs who are the most successful are not just hardworking; they’re also the biggest innovators. The tobacco industry continues to be very innovative, despite increas- ing regulations. During this year’s Tobacco Plus Expo (TPE) trade show, innovation could not only be seen in many of our exhibitors and their products; it was also a topic some of our panelists discussed. This got us thinking how important and close to all of our hearts innovation is to this industry and is why we decided to dedicate this entire issue of our magazine to exploring it in-depth. In this issue you will see and read about different companies and individuals challenging and redefining the word “innovation.” On the cover we have Niels Frederiksen of Scandinavian Tobacco Group, who shares his approach to driving innovation while building brands. We also have insight on innovation from a wide range of entrepreneurs behind some of the industry’s leading brands, including Altadis U.S.A., Drew Estate, Caldwell Cigar Co., and several other familiar names and brands. On the retail front, Gary Kolesaire from The Tobacco Shop of Ridgewood shares a behind-the-scenes breakdown of what made his store a huge success. To help you improve your business, several tobac- conists also share how they’ve improved their inventory management and added profits to their bottom line. To paraphrase something Altadis’ Rob Norris said during TPE this year, at its core innovation is about taking chances and not being afraid to make a mistake. Some of the biggest discoveries and inventions have been the product of an entrepreneur seeing something that has been done before and thinking to themselves, “I can do it better.” It’s easy to let small budgets, a lack of resources, anti-tobacco ordinances, federal regulations and all that other “bad” stuff we businesspeople encounter get the best of us. But we shouldn’t let it kill our creativity and our desire to innovate. We at Tobacco Business and the TPE want to continue to inspire you to strive for improvement, to continue to create, and, best of all, we want you to innovate. I hope you enjoy this issue of our magazine, and that it reignites your entrepreneurial drive and passion for this industry. You can share your thoughts on business, our magazine and the TPE trade show by emailing me at benstimpson@tobaccobusiness.com and let me know how you and your business are innovating within the tobacco, vapor and alternative categories. PUBLISHER'S LETTER Tobacco Business is published bimonthly at 9121 Anson Way, Ste. 200 #229 Raleigh, NC 27615 . Printed in USA. Copyright 2018 by TBI, LLC. Subscription rate is $45.00/year. Send paid subscriptions to Tobacco Business at same address as mentioned above. For reprint information, contact Lea Edmondson at (877) 702-4427. Copying: Permission is granted with users of the Copyright Clearance Center Inc. To photocopy any article, with the exception of those for which separate copyright ownership is indicated on the first page of the article, provide a base fee of $1.25/copy. Tobacco Business International is a registered trademark of TBI, LLC. POSTMASTER: Send address changes to Tobacco Business , 9121 Anson Way, Ste. 200 #229 Raleigh, NC 27615 . MAGAZINE TOBACCO BUSINESS MAGAZINE TOBACCO BUSINESS VOL21 NO3 ✶ MAY / JUNE 2018 TMG INTERNATIONAL Lea Edmondson, General Manager of Sales and Administration TPEMANAGEMENT Hilary Manning, Tradeshow Logic Ellie Hansen, Trade Show Marketing & Operations Manager TOBACCO BUSINESSMAGAZINE 9121 Anson Way, Ste. 200 #229 Raleigh, NC 27615 (800) 744-4427 MANAGING DIRECTOR Ben Stimpson GENERAL MANAGER, CIRCULATION AND ADMINISTRATION Lea Edmondson EDITOR IN CHIEF Jennifer Gelfand SENIOR EDITOR Stephen A. Ross DESIGN DIRECTOR Dana Collins COPY EDITOR Hailey Hollister EDITOR AND DIGITAL CONTENT DIRECTOR Antoine Reid A DIVISION OF KRETEK INTERNATIONAL, INC. CHAIRMAN Hugh Cassar PRESIDENT AND CEO Mark Cassar CHIEF MARKETING OFFICER Jason Carignan CHIEF FINANCIAL OFFICER Don Gormly Ben Stimpson, Managing Director TMG International Inspiring Innovation