Vector Group Ltd. is an American diversified holding company with two major businesses: Liggett Group[6] (tobacco) and New Valley (real estate).[7]
Company type | Public |
---|---|
NYSE: VGR S&P 600 component Russell 2000 component | |
ISIN | US92240M1080 |
Industry | Diversified holding |
Genre | Holding company |
Founded | 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 | $2.02 billion (FY 2020)[4] |
$92.5 million (FY 2020)[4] | |
Total assets | $1.34 billion (FY 2020)[5] |
Number of employees | 1,007[5] |
Subsidiaries | Liggett Group LLC New Valley LLC Vector Tobacco[3] |
Website | vectorgroupltd |
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.[8]
Vector Group was previously called Brooke Group.[9]
Founded in 1873, Liggett Group is the fourth-largest cigarette manufacturer in the U.S.[10] Liggett operates in the discount cigarette market. As of March 31, 2019, Liggett's family of brands represented a 14% share of the discount market.[11] Its core brands include: Pyramid, Grand Prix, Liggett Select, Eve, Eagle 20's, and Montego.[12][13] Vector Tobacco is engaged in the manufacture of conventional cigarettes, based in North Carolina.
New Valley LLC (formerly known as Western Union)[14] is a diversified real estate company that acquires or invests in real estate properties or projects. It has invested in more than 30 real estate projects as of March 31, 2019.[11]
New Valley previously owned 100 percent[15] of Douglas Elliman, the largest residential real estate brokerage firm in the New York metropolitan area and fourth-largest residential brokerage firm in the U.S.[16] In December 2021, Vector Group completed the spin-off of Douglas Elliman into a standalone, publicly traded company.[17]
Vector Group and New Valley's headquarters are in Miami, Florida[3] and they have an additional office in New York, New York.[18]