The early years of Universal were not without challenges, as the fledgling company struggled with both adverse market conditions and financial difficulties. With a new generation of management, the Company refocused on its core business and moved its corporate headquarters from New York to Richmond, Virginia. At the same time, Universal made its first forays into international markets, China and Canada, and continued to increase its U.S. leaf tobacco volumes. In 1927, Universal Leaf Tobacco Company, Incorporated was listed on the New York Stock Exchange (“UVV”).