Vector Group

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Vector Group Ltd.
Public
Traded as NYSEVGR
ISIN US92240M1080
Industry Diversified holding
Genre Holding company
Founded 1986 (31 years ago) (1986).[1]
Founder Bennett 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]
Products Tobacco, 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
Subsidiaries Liggett Group LLC
New Valley LLC
Vector Tobacco[3]
Website vectorgroupltd.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].

Holdings[edit]

Subsidiaries[edit]

Liggett Group LLC - Founded in 1873, Liggett Group LLC is the fourth-largest cigarette manufacturer in the U.S.[7] 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.[8] 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)[9] 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, 2016.

New Valley owns over 70 percent[10] 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.[11]

Other Investments[edit]

Vector Group also owns a portion of Ladenburg Thalmann Financial Services Inc. and of Castle Brands Inc.[12]

Office locations[edit]

Vector Group and New Valley’s headquarters are in Miami, Florida[3] and they have an additional office in New York, New York.[13]

See also[edit]

References[edit]

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

External links[edit]