Vector Group Ltd's Business Segments
Vector Group Ltd's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Revenue Share by Reportable Segment - Q2 FY2024
- Tobacco100%
Revenue by Reportable Segment - Q2 FY2024
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Tobacco | $ 372 | 100% |
Description of Vector Group Ltd
the manufacture and sale of cigarettes in the United States through our Liggett Group LLC (“Liggett”) and Vector Tobacco Inc. (“Vector Tobacco”) subsidiaries,
the sale of electronic cigarettes (“e-cigarettes”) in the United States through our Zoom E-Cigs LLC (“Zoom”) subsidiary, and
the real estate business through our New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects. New Valley owns 70.59% of Douglas Elliman Realty, LLC (“Douglas Elliman Realty”), which operates the largest residential brokerage company in the New York metropolitan area.
Financial information relating to our business segments can be found in Note 19 to our consolidated financial statements. Our significant business segments for the year ended December 31, 2015 were 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 Companys e-cigarette business. The Real Estate segment includes the Company’s investment in New Valley LLC, which includes Douglas Elliman, Escena, Sagaponack and investments in real estate ventures.
E-Cigarettes
Our subsidiary, Zoom, entered the emerging United States e-cigarette market
in limited retail distribution outlets in January 2014 with a cautious plan
to minimize expense. In January of 2014, we announced the national rollout of
our Zoom e-cigarette brand. Uncertainties regarding e-cigarettes are significantly
greater today than they were a year ago and, at this point, the trend lines
do not predict a bright future. In fact, we have seen significant changes in
the e-cigarette market over the past year with disposable e-cigarettes in rapid
decline, rechargeable e-cigarettes appearing to be in decline and open system
vapor products, that feature refillable tanks and use low-cost flavored liquids,
demonstrating mixed results with limited category volume growth but rapidly
declining prices. Additionally, we believe uncertainties related to the regulation
of e-cigarettes, including open system vapor products, exist. Given this backdrop,
our primary focus on the e-cigarette product is to limit risk while staying
prepared to pursue opportunities if they occur.
New Valley LLC
New Valley LLC, a Delaware limited liability company, is engaged in the real
estate business and is seeking to acquire or invest in additional real estate
properties and projects. New Valley owns a 70.59% interest in Douglas Elliman
Realty which operates the largest residential brokerage company in the New York
City metropolitan area, which is known as Douglas Elliman Real Estate or Douglas
Elliman. New Valley also holds investment interests in various real estate projects
domestically and internationally.
Tobacco Operations
General. Liggett is the operating successor to Liggett & Myers Tobacco Company,
which was founded in 1873. Vector Tobacco is a discount cigarette manufacturer
selling product in the deep discount category. In this report, certain references
to “Liggett” refer to our tobacco operations, including the business
of Liggett and Vector Tobacco, unless otherwise specified.
Tobacco’s cigarettes pursuant to a contract manufacturing agreement. At
the present time, Liggett and Vector Tobacco have no foreign operations.