Vape firm IVG targets £1bn revenue

A Preston-founded vaping business behind one of the UK’s fastest-growing consumer brands is targeting £1bn in annual revenue in the next three years as it accelerates international expansion.

Created in 2016 by entrepreneur Ahsan Bawa, IVG has grown from a regional startup into a globally recognised consumer brand now sold across multiple international markets worldwide.

Operating under parent company Hadi SM Investments, the group has rapidly expanded across international distribution, e-commerce, technology infrastructure and commercial property investment.

The company has revealed plans to significantly increase its workforce over the coming years as part of its ambitious international growth strategy.

Its management add that major investment is underway into warehousing, AI-driven systems, product development and global supply chain infrastructure.

The group employs more than 180 people in Lancashire and 250 people in the UK.

The Preston-based group has become one of the region’s largest privately owned growth businesses, with IVG products now stocked in major UK retailers including Tesco, Asda, Morrisons, Sainsbury’s, Spar, Nisa and Premier stores, alongside an estimated 40,000 retail locations nationwide.

Hadi SM Investments has also built a substantial UK commercial property portfolio valued at more than £100m.

Ahsan Bawa, founder of IVG, said: “We are proud to continue building a business in Lancashire is competing on the global stage.

“Our success has been built through hard work and exceptional people.

“Everything started here and Lancashire remains central to our long-term vision.

“Over the last few years we have invested heavily into innovation, technology, operational infrastructure and international expansion while continuing to create jobs and invest back into the UK economy.

“We remain committed to investing in our team, our infrastructure and the region that has supported our growth.”

The group says it is now investing heavily into AI-driven operational systems and working on international product development, new European and international product launches and supply chain and logistics expansion.

Despite increasing international expansion, the company says it remains committed to growing its presence in Lancashire and strengthening its UK operations further.

Ahsan added: “We believe Lancashire has some of the strongest entrepreneurial talent in the country.

“Our objective is to build a modern global business from the UK that can compete with the very best international companies through innovation, speed and operational excellence.”