Vector Group Ltd is a diversified tobacco and real estate company based in the United States. The company was founded in 1911 as the Liggett & Myers Tobacco Company and is headquartered in Miami, Florida. It has a long history in the tobacco industry and has since expanded its operations to include real estate and other business ventures.
In the early years, Liggett & Myers Tobacco Company became one of the leading tobacco manufacturers in the United States. Over time, it diversified its tobacco offerings, producing various cigarette brands, including Pyramid, Eve, and USA Gold. In 2000, the company changed its name to Vector Group Ltd to reflect its broader business interests beyond tobacco.
Today, Vector Group operates through its two main segments: Tobacco and Real Estate. The Tobacco segment encompasses the production and sale of cigarettes and other tobacco-related products. The Real Estate segment is involved in residential real estate development, primarily through its subsidiary Douglas Elliman Realty LLC, which is one of the largest real estate brokerage firms in the New York metropolitan area.
One unique aspect of Vector Group is its significant ownership stake in the cigarette manufacturer Liggett Group LLC. This ownership gives the company a distinct position in the tobacco industry and allows it to participate in the overall performance of the tobacco business.