Word: lorillard
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...Lorillard...
...well that other companies that had been considering the longer cigarettes rushed their brands into distribution. Along with Pall Mall, the American Tobacco Co. brought out Colony in the 100-mm. length; American is now test-marketing Tareyton, Lucky Strike and Fifty Fifty in that size. P. Lorillard Co. introduced 100-mm. Spring and York and is testing its best-selling Kent in the supersize. Liggett & Myers now has menthol L & Ms in the longer length. R. J. Reynolds has a 100-mm. Winston in menthol and nonmenthol; they accounted for much of the company's 3.9% increase...
Both companies could use a shot of some sort. The fifth-ranked U.S. to bacco company, Lorillard last year earned $29 million on sales of $510 million, but its profits have barely budged since the late 1950s, when its filter, Kent, stole the low-tar-and-nico-tine march on the industry. Chairman Manuel Yellen, 54, last year offered a new filter brand, True, both plain and mentholated; though True is highly successful so far, sales have just begun to make up for its heavy introductory costs in a market now choked with competition...
Schenley's profits ($20.5 million last year) should look good on Lorillard's books. And with its marketing-minded young management, Lorillard should soon be able to return the favor for Schenley, whose 1966 sales of $478 million were only 2% greater than in 1957. Once the leading U.S. distiller, Schenley was overtaken by aggressive Distillers Corp.-Seagrams after the war. None of its leading brands (among them: Schenley Reserve blended whisky, Dewar's Scotch, I. W. Harper bourbon) are now the top sellers in their fields...
Still robust and ever stabbing the air with his long cigars, Rosenstiel only last August gave up the presidency to Scots-born John Mackie, 55. Schenley-Lorillard merger terms and management details still have to be approved by directors and stockholders, but Rosenstiel at last seems ready to end his rambunctious reign. "He screams at you one minute," recalls one former Schenley staffer, "and then loves you the next." Schenley survivors may respond readily to some steady Yellen...