Profile: Vector Group Ltd (VGR.N)
Vector Group Ltd., incorporated on September 7, 1999, is a holding company engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc. (Vector Tobacco) subsidiaries; the sale of electronic cigarettes (e-cigarettes) in the United States, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire additional operating companies and real estate properties. The Company’s business segments include Tobacco, E-Cigarettes and Real Estate. The Tobacco segment consists of the manufacture and sale of cigarettes. The E-Cigarettes segment includes the operations of the Company's e-cigarette business. The Real Estate segment includes the Company’s investments in consolidated and non-consolidated real estate businesses.
Liggett is the operating successor to Liggett & Myers Tobacco Company. Liggett’s manufacturing facilities are located in Mebane, North Carolina, where it manufactures most of Vector Tobacco’s cigarettes pursuant to a contract manufacturing agreement. Liggett and Vector Tobacco manufacture and sell cigarettes in the United States. Cigarettes are marketed under brand names to adult smokers. Liggett produces cigarettes in around 117 combinations of length, style and packaging. Liggett’s brand portfolio includes EAGLE 20’s, PYRAMID, GRAND PRIX, LIGGETT SELECT, EVE and the United States and various Partner Brands and private label brands.
The Company competes with Philip Morris USA Inc., Reynolds American, Lorillard Tobacco Company and Commonwealth Brands, Inc.
The Company entered the United States e-cigarette market in retail distribution outlets. It operates through its Zoom E-Cigs LLC (Zoom) subsidiary.
New Valley LLC is engaged in the real estate business and is seeking to acquire additional real estate properties and operating companies. New Valley owns a 70.59% interest in Douglas Elliman Realty, LLC, which operates the residential brokerage company in the New York City metropolitan area, which is known as Douglas Elliman Real Estate. New Valley also holds investment interests in various real estate projects domestically and internationally.
Douglas Elliman Realty, LLC owns Residential Management Group LLC, which conducts business as Douglass Elliman Property Management and is the New York metropolitan area’s manager of rental, co-op and condominium housing, Title Services business and owns a 49.9% interest in a joint venture, which conducts business as a residential mortgage lender.
Douglas Elliman Real Estate is engaged in the real estate brokerage business through its seven subsidiaries. The seven brokerage companies have 79 offices with approximately 5,500 real estate agents in the metropolitan New York area, as well as South Florida, Beverly Hills, California and Aspen. The Long Island brokerage operation is headquartered in Huntington, New York with 37 offices and approximately 1,927 real estate agents. The Westchester brokerage operation operates in Northern Westchester County, a suburban area north of New York City, with six offices located in the towns of Chappaqua, Armonk, Bedford, Sommers, Pleasantville and Katonah. The offices had approximately 189 real estate agents and closed approximately 590 transactions in fiscal 2014.
Douglas Elliman Florida, LLC operates in South Florida with nine offices located in downtown Miami, Miami Beach, North Miami, Ft. Lauderdale, Boca Raton and Palm Beach. The offices have approximately 600 real estate agents and closed approximately 1,100 transactions, representing sales volume of $1.2 billion of real estate in 2014. Douglas Elliman also had operations in California, Colorado and Connecticut. Douglas Elliman Real Estate operates as a broker in residential real estate transactions. The company also offers buyer brokerage services. Douglas Elliman Real Estate also offers relocation services to employers, which provide a variety of services with facilitating the resettlement of transferred employees. These services include sales and marketing of transferees’ existing homes for their corporate employer, assistance in finding new homes, moving services, educational and school placement counseling, customized videos, property marketing assistance, rental assistance, area tours, international relocation, group move services, marketing and management of foreclosed properties, career counseling, spouse/partner employment assistance, and financial services.
DE Title Services provides full-service title and settlement services to real estate companies and financial institutions. DE Title Services acts in the capacity of a title agent and sells title insurance to property buyers and mortgage lenders. DE Title Services is licensed as a title agent in New York. Douglas Elliman Real Estate’s Website, elliman.com, serves as a destination, where consumers can search properties throughout the entire New York and South Florida markets and access market information, as well as building and neighborhood guides and other interactive content. It also launched AskElliman.com, which facilitates communication with consumers, providing them with access to information from real estate to mortgage financing, to specific neighborhoods.
The Company competes with Century-21, ERA, RE/MAX International, Sotheby’s International Realty, Better Homes and Gardens Real Estate, Berkshire Hathaway HomeServices and Coldwell Banker.
Vector Group Ltd
10TH FLOOR, 4400 BISCAYNE BOULEV
MIAMI FL 33137