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Figure 1: Possible Impact of a US menthol ban on BAT volumes and profit Source: Company data, Morgan Stanley Research estimates Menthol accounts for 55% of the US cigarette market and BAT has a 48% menthol market share in that country, meaning that 25% of group profits were in the firing line

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The changed formula brings tobacco more strongly to the centre and also the safran note feels stronger and more leathery (also the og had a strong leathery nuance to it)

A prime example is Dolce & Gabbana's The One, which is a masterclass in blending tobacco, amber, and cedar into something incredibly smooth and sophisticated