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Vector Group

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This article is about the publicly traded holding company. For the electrical engineering method of categorizing voltage, see Vector group.

Vector Group Ltd.
Company typePublic
NYSE: VGR
ISINUS92240M1080
IndustryDiversified holding
GenreHolding company
Founded1986 (39 years ago) (1986).[1]
FounderBennett S. LeBow
Headquarters
Miami, Florida
,
United States
Key people
Bennett S. LeBow Chairman
Howard Lorber President and Chief Executive Officer
Richard Lampen Executive Vice President[2]
J. Bryant Kirkland III Senior Vice President, Chief Financial Officer and Treasurer[2]
Marc N. Bell Senior Vice President, General Counsel and Secretary[2]
Ronald J. Bernstein President and Chief Executive Officer of Liggett Group LLC and Liggett Vector Brands LLC[2]
ProductsTobacco, real estate, property management[3]
Revenue$1.7 billion (FY 2015)[3]
$59.2 million (FY 2015)[3]
Total assets$1.3 billion (FY 2015)[3]
Number of employees
1,090
SubsidiariesLiggett Group LLC
New Valley LLC
Vector Tobacco[3]
Websitevectorgroupltd.com

Vector Group Ltd. is a diversified holding company with two major businesses: Liggett Group LLC[4] (tobacco) and New Valley LLC (real estate), including Douglas Elliman.[5]

Bennett S. LeBow founded Vector Group in 1986. Since then, he has served as Chairman. Howard Lorber has served as the Company’s President and Chief Executive Officer since 1994.[6].

In 2013, Forbes magazine named Vector Group as one of "America's 100 Most Trustworthy Companies".[7]

Holdings

Subsidiaries

Liggett Group LLC - Founded in 1873, Liggett Group LLC is the fourth-largest cigarette manufacturer in the U.S.[8] Liggett operates in the discount cigarette market. As of June 30, 2016, Liggett’s family of brands represented a 12% share of the discount market. Its core brands include: Pyramid, Grand Prix, Liggett Select, Eve and Eagle 20’s.[9] Vector Tobacco Inc. is engaged in the manufacture of conventional cigarettes, based in North Carolina.

New Valley LLC - New Valley LLC (formerly known as Western Union)[10] is a diversified real estate company that acquires or invests in real estate properties or projects. It has invested in more than 20 real estate projects as of June 30, 3016.

New Valley owns over 70 percent[11] of Douglas Elliman Realty, LLC, the largest residential real estate brokerage firm in the New York metropolitan area and fourth-largest residential brokerage firm in the U.S.[12]

Other Investments

Vector Group also owns a portion of Ladenburg Thalmann Financial Services Inc. and of Castle Brands Inc.[13]

Office locations

Vector Group and New Valley’s headquarters are in Miami, Florida[3] and they have an additional office in New York, New York.[14]

See also

References

  1. ^ Fairclough, Gordon (June 26, 2000). "Liggett's Chief Breaks Rank Again At Tobacco Trial". Wall Street Journal. Retrieved September 27, 2016.
  2. ^ a b c d "Vector Group Ltd". Bloomberg Markets. Bloomberg.com. Retrieved September 27, 2016.
  3. ^ a b c d e f "Vector Group Ltd. 2015 Stockholders' Report" (PDF). Vector Group. Retrieved September 27, 2016.
  4. ^ Ornstein, Charles (April 6, 2016). "Top Medical Journal Deflects Criticism of Withholding Data". ProPublica. Retrieved September 27, 2016.
  5. ^ Clarke, Katherine (February 1, 2013). "Who really owns NYC's real estate firms?". The Real Deal. Retrieved September 27, 2016.
  6. ^ Bockmann, Rich. "Howard Lorber and the art of brand management". The Real Deal. Retrieved September 27, 2016.
  7. ^ Smith, Jacquelyn (March 18, 2013). "America's 100 Most Trustworthy Companies". Forbes. Retrieved June 14, 2014.
  8. ^ Hargreaves, Rupert (March 18, 2014). "Here's Why Vector Group is a Great Investment". Motley Fool. Retrieved September 27, 2016.
  9. ^ Vanderford, Greg. "Invest In Vector Group For The Highest Yield In The Tobacco Industry". Seeking Alpha. Seeking Alpha. Retrieved October 26, 2015.
  10. ^ Strom, Stephanie (October 9, 1994). "New Valley, Old Management". New York Times. Retrieved September 27, 2016.
  11. ^ Bockman, Rich (August 18, 2015). "Douglas Elliman to market condos at HFZ's High Line project". The Real Deal. Retrieved September 27, 2016.
  12. ^ Clarke, Katherine (July 12, 2016). "Compass wants investors to believe it's worth $1.3B". The Real Deal. Retrieved September 27, 2016.
  13. ^ "Ladenburg Thalmann Financial Services Inc.: What Next?". Stock Market Insights. May 19, 2016. Retrieved September 27, 2016.
  14. ^ "Offices in New York City". Douglas Elliman. Retrieved September 27, 2016.
  • vectorgroupltd.com, the company's official website
  • Business data for Vector Group Ltd.:
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