Philip Morris
Categories
#70
Rank
$191.1B
Marketcap
United States
Country
Philip Morris International (Founder)
Jacek Olczak (COO)
Retail and Consumer Goods
Summary
Philip Morris & Co., Ltd is an international tobacco company with a presence in 180 countries worldwide. It is one of the leading tobacco companies in the world and is known for its famous brands such as Marlboro, Virginia Slims, and L&M. The company was founded in 1902 and is headquartered in Lausanne, Switzerland. The company's business is split into two main categories: cigarettes and smokeless tobacco. Cigarette products are the company's primary focus, with Marlboro being the company's largest brand. The company also produces a range of smokeless tobacco products, including snuff, chewing tobacco, and snus. Philip Morris has a wide range of subsidiaries, including Philip Morris International, Altria, and Philip Morris USA.
The company also owns a number of popular brands, such as Benson & Hedges, Parliament, and Virginia Slims. Philip Morris has a strong focus on corporate social responsibility and has been actively involved in a number of initiatives to reduce the harm caused by smoking. These initiatives include lobbying for smoke-free public places, investing in research to reduce the harm of smoking, and offering smoking cessation products and services. The company is also involved in a number of environmental initiatives, including reducing its waste and carbon footprint, reducing water usage, and investing in renewable energy projects. In addition, Philip Morris has invested in a number of health and wellness initiatives, including the development of smoke-free products and the promotion of healthy lifestyles.
History
The story of Philip Morris & Co., Ltd dates back to the year 1847 when its founder, Philip Morris, established a small shop in London that sold imported cigarettes. Despite having only one item in his inventory, Morris's business soon grew into an international success with outlets all over Europe by the end of the 19th century. In 1902, Philip Morris established Philip Morris & Co., Ltd, which became the first tobacco company to manufacture cigarettes on an industrial scale, with an aim to manufacture, distribute, and market cigarettes. The company did not limit itself to cigarettes but also offered cigars, pipe tobacco, rolling tobacco, and snuff.
By the 1920s, Philip Morris & Co., Ltd had gained immense popularity, and its products were sold in over 40 countries with thousands of employees worldwide. This success was largely attributed to the company's innovative marketing strategies, which included giving away free cigarettes with every purchase and sponsoring popular sporting events. To expand their operations further, the company partnered with British American Tobacco in the 1930s.
Facing tough competition from established brands like Lucky Strike, Camel, and Chesterfield, Philip Morris & Co., Ltd diversified its product range in the 1940s by launching non-tobacco products such as food, beverages, and even clothing. In the 1950s, the company introduced several new tobacco brands, including Marlboro, Virginia Slims, Benson & Hedges, and Merit, and expanded its operations to Asia, Africa, and Latin America.
The company continued to grow and expand, merging with Miller Brewing Company in the 1960s to form Philip Morris Companies, Inc. Throughout the 1970s, the company acquired several large companies, including Kraft Foods and General Foods, making it one of the world's largest food and beverage companies.
In the 1980s, Philip Morris Companies, Inc. shifted its focus back to tobacco and launched several new tobacco brands, such as Benson & Hedges, Marlboro, and Virginia Slims. The company also acquired smaller tobacco companies like Benson & Hedges and Liggett & Myers. By the 1990s, Philip Morris Companies, Inc. had become the largest tobacco company in the world and continued to acquire companies and brands, including Kraft Foods, Miller Brewing Company, and Nabisco.
Today, Philip Morris & Co., Ltd is a global powerhouse in the tobacco industry, owning a wide range of brands and products, including Marlboro, Benson & Hedges, Virginia Slims, Merit, and L&M. The company also owns several food and beverage brands, including Miller Brewing Company and Nabisco. Philip Morris & Co., Ltd's journey from a small London shop to a worldwide tobacco and food conglomerate is a remarkable one, and it continues to shape the tobacco industry.
Mission
The mission of Philip Morris International (PMI) is to develop scientifically substantiated smoke-free products that are less harmful than smoking, with the aim of completely replacing cigarettes. To achieve this goal, PMI is evolving its business to deliver value in the long-term by moving beyond combustible and smoke-free products.
Vision
Philip Morris International's vision is to create a smoke-free future, where all cigarettes are replaced by less harmful alternatives. The company aims to provide a portfolio of innovative and less harmful products that will provide adult smokers with the best alternatives to smoking. The vision is to help people quit smoking and improve public health.
Key Team
Louis Camilleri (Board Member)
Annie Heremans (Chief Medical Officer)
Robert Polet (Board Member)
Silke Muenster (Chief Diversity Officer)
Stephen Wolf (Board Member)
Andrea A. Mills (Chief Advisor, External R&D and Emerging Technologies For PMI Science and Innovation)
Bengu Cakmak (Assistant To Chief Sustainability Officer & VP Fiscal)
Bin Li (Chief Product Officer)
Deepak Mishra (Chief Strategy Officer)
Recognition and Awards
Products and Services
Philip Morris is a tobacco company that produces a wide range of products, including cigarettes, cigars, rolling tobacco, pipe tobacco, and smokeless tobacco. They are the largest tobacco company in the world, with a presence in 180 countries. In addition to its tobacco products, Philip Morris also manufactures and sells a variety of products and services, including e-cigarettes and vape pods, heated tobacco products, and other smoke-free nicotine products.
They also market and distribute a variety of lifestyle products and services, such as clothing, jewelry, and accessories. Philip Morris also offers a range of services designed to help customers quit smoking. These services include online resources, counseling, and support programs to help smokers transition to smoke-free alternatives. They also provide educational materials and guidance on quitting smoking, as well as access to a wide range of nicotine replacement therapies.
Philip Morris is committed to reducing the risks of tobacco use and promoting a healthier lifestyle. They have created several initiatives, such as the "Smoke Free World" campaign, to help reduce smoking prevalence and encourage people to move away from smoking and towards smoke-free alternatives.
Overall, Philip Morris is a leading tobacco company that produces a wide range of products and services. They offer a variety of tobacco products, as well as smoke-free alternatives and services to help people quit smoking. Their commitment to reducing the risks of smoking and promoting a healthier lifestyle make them an important partner in the fight against smoking.
References
- Philip Morris International | Wikipedia
- Philip Morris | Crunchbase
- Philip Morris International, Inc. history, profile and corporate video | Companies History
- Companies ranked by revenue | Companiesmarketcap
- Philip Morris International | Tobaccotactics
- Philip Morris International Inc | CNBC
- Philip Morris International Inc. PM (U.S.: NYSE) | WSJ
- Philip Morris International Inc | Bloomberg
- Philip Morris Focuses on Becoming a Digital Leader | ARC Web
- Philip Morris International Inc. stock underperforms Tuesday when compared to competitors | Market Watch
- Henrico County-based Altria sues JUUL over e-cigarette patents | Richmond
- Old Dominion Freight Line's 100-job project at former Philip Morris site in Concord gets permit approved | Bizjournals
- Can Philip Morris, a Tobacco Company, Turn Itself Into an ESG Stock? | Impakter
- Philip Morris on path to becoming an ESG stock, says chief executive | Financial Times
- Philip Morris International inc.: is the share price in line with business progress? | Claytoncountyregister
- Philip Morris International Reports 2023 Second-Quarter and First-Half Results | Businesswire
- Philip Morris beats profit estimates as cost pressures ease amid steady demand | Reuters
- Is PMI Really Creating a ‘Smoke-Free Future’? | Exposetobacco.
- Philip Morris making deals with Australian pharmacies to supply below-cost vaping products | Theguardian
- Philip Morris International Inc. (PMI) Presents at 2023 Deutsche Bank Global Consumer Conference; Reaffirms 2023 Full-Year EPS Forecast | Businesswire
- Philip Morris to launch new $30 million production facility in western Ukraine | Reuters
- Philip Morris making progress on goal to be smoke-free company by 2025 and become wellness company over time | Market Watch
Philip Morris International (Founder)
Jacek Olczak (COO)
Retail and Consumer Goods