Giannini Out as Ventura Cigar Co. Restructures
Amid corporate restructuring and brand consolidation, Michael Giannini is no longer with the company. And Ventura Cigar is no longer operating as a standalone business.
The cigar company has returned to its previous position as a subsidiary of Phillips & King International. Both Ventura and Phillips & King are owned by parent company Kretek International Inc., a large importer, marketer and distributor of tobacco products.
“With the new Ventura Cigar and Phillips & King restructuring, we mutually agreed with Michael that it made sense to part ways,” said Sergio Montolfo, general manager and executive vice president for Phillips & King.
The company behind such cigar brands as Psyko Seven and Archetype, Top 25 list of 2017.
The decision to merge Ventura back into Phillips & King was dictated partly by the cost of FDA compliance. While the transition started last year, Ventura is now fully under the Phillips & King umbrella again.
“This decision was based on a number of factors, including the cost and impact of complying with the FDA guidelines,” explained Montolfo. “As a result, we began the process of focusing our sales efforts on core portfolio brand offerings that had a clear path to FDA approval.”
In addition to Ventura merging back with Phillips & King, Ventura will be consolidating its cigar portfolio and discontinuing some of its lines, though the extent of the brand deletions is still undecided.
“In light of the recent developments at FDA regarding handmade cigars and the limited cigar production capabilities due to Covid-19, we are taking a second look at our portfolio in hopes of continued for even more offerings in the future,” Montolfo told Cigar Aficionado. Currently, Ventura is focusing production on its Psyko Seven lines as well as the Archetype Master and Archetype Pupil cigars.
The Foundry line, which Giannini conceived, will most likely be discontinued. ed Ventura in 2017 as creative director and was later promoted to general manager the next year.
Giannini did not respond to requests for comment from Cigar Aficionado.
Kretek International is based in California, and owns Tobacco Plus Expo, a large, business-to-business tobacco trade show that covers both and machine-made cigars as well as vaping products and flavored tobacco.
“Ventura Cigar is not going away anytime soon,” assured Montolfo. “Phillips & King remains as committed as ever to the cigar retailers across the country.”
