Our transformation journey

Meeting consumer needs

Our strategy is about progressively transforming our portfolio and actively migrating smokers from cigarettes to smokeless alternatives. Our vision is to Build a Smokeless World and our aim is to become a predominantly smokeless business by 2035.

While our heritage is in traditional combustible tobacco products, we have put a sharp focus on our broad portfolio of smokeless products. These products offer alternatives to smokers who would otherwise continue to smoke and include Vapour products, Heated Products and Modern Oral nicotine pouches.

The best choice any adult smoker can make will always be quitting combustible tobacco products completely. For those that would otherwise continue to smoke, offering them a choice of enjoyable and innovative smokeless products is key. As preferences and attitudes change in an evolving industry, understanding our consumers is essential to both successful portfolio and business growth.

Our ambition is to continue expanding our portfolio by building on our deep cross category consumer insights and by developing products to satisfy diverse consumer preferences and ultimately distribute them to markets around the world.

Our approach will deliver A Better Tomorrow™ for our consumers who will have a range of enjoyable smokeless alternatives; for society through Building a Smokeless World and reducing the overall health and environmental impacts of our business; for our employees by creating a dynamic and purposeful place to work; and for our shareholders by delivering sustainable superior returns.

We are encouraged by and proud of the progress we are making. And we are excited about what the future has in store as we continue to transform our business to make Building a Smokeless World a reality.

Acting responsibly

As a leading multinational business, we understand our global impact, the importance of high standards of integrity and our evolving societal responsibilities. As a result, leading in sustainability and integrity matters.

•  For our consumers, we want to actively encourage them to migrate from cigarettes to smokeless alternatives by offering a range of enjoyable and responsibly marketed smokeless products in tobacco, nicotine and beyond.
•  For society, we aim to reduce the health impacts of our business by Building a Smokeless World while working to reduce  our environmental impacts.
•  For our suppliers and customers, we want to raise standards,  drive sustainable practices, create shared value for everyone across our value chain.
•  For our employees, we want to create a dynamic, inspiring and purposeful place for them to work.
•  And for our shareholders, we want to deliver superior and sustainable returns.

Strong foundations for our evolved strategy

We made great progress on our strategic targets in 2023.

As part of our growth strategy, New Category revenue grew 15% and we now have a total of 23.9 million consumers ¹ of our Non-Combustible products.

We have unique global marketing and distribution reach, a track record of R&D strength and innovation, as well as decades worth of consumer insights and brand building expertise.