The digital marketplace FastTech is closing down. The owners have now announced this in a message to their customers. The reason is new laws that make it more difficult to sell e-cigarettes.
For nearly 10 years, FastTech has been one of the world's best-known sales platforms for e-cigarettes and the thousands of accessories that fall under the segment. Along with similar sites like Gearbest and 3FVape, FastTech has over the years established itself as the e-cigarette equivalent of Amazon and Ali Express.
Favored small producers
FastTech is based in Hong Kong, but has its main warehouse in China's Shengzen region, where the majority of the world's electronic cigarettes are made. Companies like FastTech soon carved out a niche as marketplaces for many smaller manufacturers that would otherwise have difficulty reaching outside China.
Tougher legislation in China
However, since October 1 this year, all e-cigarette manufacturers must be registered under the Chinese tobacco monopoly. The Chinese government sets high standards for financial conditions and sustainability, which is likely to lead to many smaller companies being forced out of business. With them, a large part of the products on sites like FastTech will also disappear.
"Our decision is based on the new legislation on the vape industry. The restrictions make the way forward much more uncertain, which also leads to us no longer being able to be competitive in terms of prices and supplies. We have done what we could to avoid this. But under the current industry regulation, we have had no choice but to close down." Writes FastTech in a post on its website.
"Tugging at the heartstrings"
Karl-Åke Johansson, chairman of the user association NNA Sweden, receives the news with mixed feelings.
"FastTech was a one-stop-shop where many Swedish vejpers made a pilgrimage in the old days, when the supply in Sweden was very limited. I suspect that there are few vejpers worldwide who have not shopped there. Of course it tugs at the nostalgic heartstrings" says Karl-Åke Johansson.
Not unproblematic
At the same time, he says FastTech's approach to everything from age limits to so-called clones, copies of established brands, has been far from problem-free.
"FastTech represents an unhealthy attitude towards genuine products in relation to clones. This has affected many serious manufacturers, who have had to compete with cheap copies of their own products," says Karl-Åke Johansson.
Age checks not a priority
He also argues that companies like FastTech can create big problems for vejpningen in general. The technology is being debated around the world. The discussions are more about minors getting hold of e-cigarettes than about harm reduction for smokers," says Karl-Åke Johansson.
"FastTech's commitment to checking who they actually send the goods to has not been a priority. Today, when the sale of cheap disposable cigarettes is so widespread, it is perhaps good that an actor who has no barriers whatsoever is phased out." Says Karl-Åke Johansson.
