History of Philip Morris International Inc:
Philip Morris international (PMI) is considered as one of the leaders in the tobacco world. Their primary business consists of the manufacturing and sales of cigarettes’ and other tobacco related products. The company ranges its product’s sales in around 160 countries around the globe. Its head office is related in the financial hub of America that is New York and estimated 75,600 employees are working for the company. As PMI enjoys the status of world’s leading tobacco company, the primary source which has enabled it to be that successful is its world number one brand Marlboro. Apart from Marlboro the company’s unequaled product portfolio also helps them in becoming the leaders in the tobacco industry (Datamonitor, 2009).
Among the 15 most popular brands in the world PMI owns seven of them. The company is driven towards maintaining their custom of providing the highest quality tobacco products to its consumers’. In the year 2008 the company estimated an international cigarette share which was around 15.6% of the world. The company is operating around the globe with a large range of products. Their most famous brands include Marlboro, L&M, Parliament, Philip Morris, Bond Street, Lark and etc (Datamonitor, 2009).
The journey which Philip Morris International has covered to achieve what they are today is tremendous. The business dynamics, acquisitions and changes they went through played a vital role in their success as a leader in their business industry. Philip Morris who was a tobacconist and importer of cigars was the founder of the company. He laid the foundation of the company in the mid of 1800’s by opening a shop on the Bond Street in London. Soon after establishing the company Philip Morris passed away and the business was taken over his brother Leopold Morris in 1873. Leopold joined Joseph Grunebaum and created Philip Morris & Company and Grunebaum, Ltd but just after two years the partnership broke and the company now became Philip Morris & Company Ltd. By the year 1894 Philip Morris was mainly controlled by the William Curtis Thomason and its family, reason being the company was taken over by the creditors. It was this time when the company had the honor of providing tobacco to King Edward VII (UCSB4life, 2005).
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