Philip Morris International (PM) is a global company specialising in cigarette and tobacco production. Dating its history back to 1847, Philip Morris derives its name from Mr. Philip Morris, who opened a tobacconist shop on Bond Street, London.
In 1881, his son Leopold Morris, founded the Philip Morris and Grunebaum, Ltd. company with Joseph Grunebaum. The partnership didn’t last long and the company was soon dissolved leaving Philip Morris & Co., Ltd.
In 1894, William Cutis Thompson became the owner of the company. Soon to be personal tobacconist to King Edward VII, Thompson was responsible for bringing the brand to USA.
In 1924, the company’s most famous brand, Marlboro was introduced. With worldwide marketing of their products beginning in the 1950s. Since then the company has grown in strength.
Philip Morris International operates through 48 production facilities in 32 of the world’s countries. The products they produce, including over 800 billion cigarettes a year, are then marketed across 180 countries worldwide. The PM team is made up of 80,000 individuals employed across their various locations, including 400+ R&D scientists, engineers and technicians who focus on smoke-free products.
Dividing their work into four segments, the company works under the following categories: tobacco farming, making cigarettes, making heated tobacco products (HEETS) and industry value chain.
The company lists 7 key points of their corporate strategy:
Smoke-free – PM aims to develop and market smoke free alternatives across their markets worldwide.
Transition – The business aims to pioneer the transition from regular cigarettes to smoke-free alternatives.
Regulation – Additionally, the plan to develop the legal infrastructure to do so, by working to improve regulation.
Sustainability – Ensuring business sustainability through their entire brand.
Talent – Finding and recruiting the best talent from all over the world.
Transparency – Operate a clear and transparent business structure by inviting progress and dialogue.
Growth – PM aims to provide the best returns to their shareholders.
The tobacco industry is highly competitive. Cigarette producer Philip Morris, competes with world-known companies, such as British American Tobacco, Imperial Brands and Swedish Match.
Traditional tobacco retailer turned smoke free advocate? Sounds like a myth, but in fact it’s the next Philip Morris business plan. With the advent of electronic cigarettes, Philip Morris has turned their attentions to “designing a smoke-free future.” Stating their aim as “looking for less harmful, yet satisfying, alternatives to smoking”, the company vows to provide choices to their current clients.
Listed on the NYSE, Philip Morris is included into the S&P 100 and the S&P 500 components. Find the latest Philip Morris (PM) share price at Capital.com.
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