Vector Group is an American holding company with tobacco and real estate interests. The group traces its roots back to the late 1800s with the founding of tobacco subsidiary, Liggett, which today ranks as the fourth-largest U.S. cigarette manufacturer. Liggett was the first company to settle certain smoking-related litigation and is the only major tobacco company to carry “Smoking is Addictive” warning labels and list ingredients on its packaging. Despite declining cigarette smoking over the past decade, Liggett was the only U.S. manufacturer to increase its market share and unit volumes between March 2010 and March 2020. Since 2010, Liggett’s Tobacco Operating Income has increased from USD $130m to USD $332m.
Vector Group's financial management team has done a spectacular job protecting and diversifying the company’s revenue streams. In 2005, Vector Group acquired New Valley LLC, which owns Douglas Elliman Realty LLC, the largest residential real estate brokerage firm in the New York metropolitan area and sixth-largest in the U.S. Over the past seven years, Douglas Elliman’s revenues have increased from USD $541m to USD $881m. In addition to owning Douglas Elliman, New Valley owns a USD $100m portfolio of consolidated and nonconsolidated real estate ventures. New Valley has recently focused its investments in the emerging PropTech sector to enhance the technology-experience of Douglas Elliman’s agents and customers.
Vector Group’s financial management team boasts an average tenure of 26 years with the company and is comprised of the CEO, COO, CFO and General Counsel. Management and directors own approximately seven percent of Vector Group's common stock. The CFl.co judges declare Vector Group as the 2021 Best Financial Management (US) award winner.