Word: lorillard
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...Government cutbacks, has increased and thus the increase in black-tie events," explains Waldorf Catering Director Lawrence Harvey. "In my set," says New York City Socialite Mrs. Thayer Gilpatric, "the tuxedo never went out." A century ago, however, the tuxedo almost got kicked out of Gilpatric's set. Griswold Lorillard -- scion, as social columnists would put it, of the tobacco Lorillards -- showed up in the rarefied regions of the country club at Tuxedo Park, N.Y., wearing a red waistcoat with his best bib and tucker. The incendiary vest was bad enough, but what really stirred up the swells...
Tisch had no real master plan in building his empire, no carefully crafted long-term strategy to consult. He just looked for good deals, an elusive goal for many corporate chiefs. In the late 1960s, Tisch started playing the takeover game. His first catch was Lorillard, maker of Kent and True cigarettes. In 1968 Loews acquired the company in a friendly deal, but soon after the merger was completed, Tisch, taking an active hand, forced out the company's chief executive. No sense in sitting back and watching an acquisition turn sour, he believed. Lorillard profits subsequently showed stronger growth...
...single resort hotel, called Laurel-in-the-Pines, in Lakewood, N.J. By 1955 they had twelve hotels, and in 1960 they hit the big time by buying control of Loews Theaters. After a quarter-century of further growth and acquisitions, including takeovers of CNA Insurance and Lorillard Tobacco, the Tisches run a company with assets of more than $12.5 billion. The brothers have amassed personal fortunes that total an estimated $1.7 billion...
...more than 200 styles to buy, and Reynolds alone has introduced 20 new ones in the past five years. Marlboro and Winston each come in eight different styles. The largest-selling brand is now Marlboro, with 20.9% of the market. Newcomers like Reynolds' Bright (1982) and Lorillard's Satin (1983) are on shelves next to oldies like Lucky Strike (1916), Camel (1913), Chesterfield (1911) and, oldest of all, Pall Mall...
...February, Lorillard introduced Satin, a cigarette with a satin-paper filter tip. Market research indicated that women wanted a product that symbolized luxurious relaxation. Ted van de Kamp, a director with MCA Advertising, says studies showed women in the 1980s are looking for a cigarette that will let them "indulge themselves." Philip Morris put Virginia Slims on the market in 1968 with an image of the striving, independent woman and the slogan "You've come a long way, baby." Its share...