The brand has been the favorite store for generations of shoppers and has a long history in fashion, launching the careers of several American designers. last year, which it has kept operational even as the retail shops shuttered. 685 Third Avenue 52h, New York, NY 10001: 2022-05-23: Venture Plus Partners LLC: 42 broadway, 12-208, New York, NY 10001: 2022-05-27: Platinum Cloud LLC: Choose the right Crunchbase solution for you Start Your Free Trial The historic centre of Odesa is part of a port city located on the Ukrainian shores of the Black Sea. Jack Saadia is the Finance Manager, Principal, and Co-founder at Saadia Group LLC. Its former flagship store, built in 1914, is now a landmarked building in New York City. Bridging the gap between style and function, Aquatalia sets a new standard in fine footwear and accessories. Average of 17 Customer Reviews. 1/5. Saadia Group are the leaders in multi-category product manufacturing and retailing. The investment firm, which acquired Lord & Taylor and New York & Company in a bankruptcy auction, will operate the brands as an e-commerce business out of its new 275 Madison Avenue headquarters, according to Crains. They had been struggling with day-to-day processes like tracking inventory, product features and editing listings online and needed a solution to help them maximize their operational efficiency and cut labor costs. White Oak Commercial Finance, an affiliate of White Oak Global Advisors, provided a $25 million ABL facility to Saadia Group for the acquisition of two women's apparel brands from e-commerce retailer RTW Retailwinds, which is undergoing bankruptcy proceedings.. We, AOL, are part of the Yahoo family of brands. Saadia Group Executive Team (4) Update this profile Name Title Board Seat Contact Info; Jose Cabatu: Chief Operating Officer & Co-Chief Financial Officer: Arvee Claravall: Co-Chief Financial Officer: Jack Saadia: Co-Founder, Chief Executive Officer, Finance Manager & Principal: You're viewing 3 of 4 executive team members. The corporation number is #3922496. . Their strategic investments in fashion brands utilizes their broad experience and leverages a full complement of resources to grow and expand the business. . .article-native-ad svg { The firm signed a sublease with Cushman & Wakefield for the space at RPW Group's 43-story Midtown building between 39th and 40th streets, Crain's New York first reported. If we didnt have Sellercloud we wouldnt have been able to expand to the channels and marketplaces that we did. Aquatalia offers the finest combination of fashion, quality and comfort in luxury footwear and is the first to mix distinctive Italian design with innovative weatherproof and stain-resistant technology. Personal responsibilities included . This is an example of a sitewide notice - you can change or remove this text in the Customizer under "Store Notice" Dismiss. The acquisition was approved by the U.S. Bankruptcy Court for the Southern District of New York and is expected to close in the next few weeks. YourSolemates. The Saadia Group, which works in multi-category product manufacturing, wholesaling and retailing, has rolled out iconic American brand Lord & Taylor as an online "collective store," according. As an equal opportunity employer, the Saadia Group does not discriminate in hiring or terms and conditions of employment because of an individual's race, color, gender, sexual orientation, genetic disorder, age, religion, disability, national origin, marital status, or any other characteristic protected by law. The Company filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the Court) on July 13, 2020. In the past year, weve seen retailers like Century 21 and Lord & Taylor shut down only to announce plans to reopen months later. Their strategic investments in fashion brands utilizes their broad experience and leverages full complement of resources to grow and expand the business. NEW YORK, Sept. 22, 2021 /PRNewswire/ -- Saadia Group, a multi-brand, end-to-end platform known for being leaders in product manufacturing, wholesaling, retailing, and distribution, proudly. Stay connected to New York business news in print and online. Saadia Group is in multi-category product manufacturing and retailing. Saadia Group is a consumer goods company that sells both on e-commerce and wholesale. Contact. , principal and co-founder of the Saadia Group, sought a brand-appropriate space for Saadias recently acquired brands and tapped Savills for a strategic plan that included identifying an ideal location; one that would allow Lord & Taylor and New York & Company to quickly establish operations while maintaining a New York City presence and accommodating future growth, Savills Zang said in a statement. Click below to see everything we have to offer. Incorrect spelling, explanation: when you check the spelling of the word, you may notice that there are two versions available: Odesa and Odessa.Nevertheless, the version with a double -s letter is outdated and it's a Russian translation of the city name, which simply spread worldwide. Saadia plans to resurrect Lord & Taylor as an e-commerce brand later this year, but has not decided if it was going to open physical stores under the banner yet, Womens Wear Daily reported. We believe in the New York & Company. Established in 1994 and crafted in Italy, Aquatalia is renowned for the finest combination of fashion, craftsmanship and comfort in luxury footwear - celebrating "functional luxury, versatile style and wearability". from 8 AM - 9 PM ET. If you would like to customise your choices, click 'Manage privacy settings'. The brand is being bought from Global Brands Group. Kbabieh also praised how simple the picking process became. "We are excited to have Gabrielle Union join the Saadia Group, her brand is the perfect fit for our family of brands. Some 20,000 U.S. stores closed in 2020, and investment bank UBS projected another 80,000 will shutter through 2026. Skustack eliminated questions like where is this? We know exactly where everything is at all times, Jack Saadia mentioned. All parties were offered the opportunity to cross-examine the witnesses who were available by telephone, but no one , one of the oldest department stores in the country, in a, for $12 million, Bloomberg reported. The 41,000-square-foot space is a far cry from what Lord & Taylor was before it gave up its flagship. If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. Media Contact: Cat Eschert [emailprotected], Cision Distribution 888-776-0942 This office space will provide our teams with a collaborative and safe working environment that will ultimately lead to growth and expansion across our network of brands.. We believe in the New York & Company. We are pleased to achieve a going-concern transaction that will preserve a large number of jobs within our corporate organization and deliver a meaningful recovery to unsecured creditors, said Rob Shapiro of BRG and Chief Restructuring Officer to RTW. ABOUT THE SAADIA GROUPThe Saadia Group are the leaders in multi-category product manufacturing, wholesaling and retailing. - More than half of the sprawling, 1.5 million square feet former Toys "R" Us warehouse in Flanders has been leased to a global logistics solution company Catering to a diversified portfolio of consumer products across multiple categories targeting all age demographics from Fashion Apparel in Mens, Womens & Kids, Footwear, Accessories, Home Textiles, Furniture and more. . "Lord & Taylor has a deep retail history that spans 195 years and a tradition of innovation and countless fashion firsts," said Jack Saadia, principal and cofounder of the Saadia Group. Retail had its reckoning. Join this Adweek event, July 1112, for insights on the modern consumer. Saadia Group said it is "the perfect label to begin their portfolio within the luxury fashion world". "We're deeply committed to continuing the rich legacy of the brand in a . Factors that could cause the Company's actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to, (i) the risks associated with the spread of COVID-19 and its impact on the Company's sales and supply chain; (ii) the Company's ability to anticipate and respond to fashion trends; (iii) the impact of general economic conditions and their effect on consumer confidence and spending patterns; (iv) changes in the cost of raw materials, distribution services or labor; (v) the potential for economic conditions to negatively impact the Company's merchandise vendors and their ability to deliver products; (vi) seasonal fluctuations in the Company's business; (vii) competition in the Company's market, including promotional and pricing competition; (viii) the Company's ability to retain, recruit and train key personnel; (ix) the Company's reliance on third parties to manage some aspects of its business; (x) the Company's reliance on foreign sources of production; (xi) the Company's ability to protect its trademarks and other intellectual property rights; (xii) the Company's ability to maintain, and its reliance on, its information technology infrastructure; (xiii) the effects of government regulation; (xiv) the control of the Company by its largest shareholder and any potential change of ownership of the Company including the shares held by its largest shareholder; (xv) the impact of tariff increases or new tariffs; (xvi) risks arising from the delisting of trading of the Companys common stock on the NYSE; (xvii) risks and uncertainties relating to the Chapter 11 cases, including but not limited to, the Companys ability to obtain Bankruptcy Court approval with respect to motions filed in the Chapter 11 cases; (xviii) the effects of the Chapter 11 cases on the Company and on the interests of various constituents; (xix) Bankruptcy Court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general; (xx) the length of time the Company will operate under the Chapter 11 cases; (xxi) risks associated with third party motions in the Chapter 11 cases; (xxii) the potential adverse effects of the Chapter 11 cases on the Companys liquidity or results of operations and increased legal and other professional costs necessary in the Chapter 11 cases; (xxiii) uncertainty associated with evaluating and completing any strategic or financial alternative, as well as the Companys ability to implement and realize any anticipated benefits associated with any alternative that may be pursued; (xxiv) the Companys liquidity and ability to continue as a going concern; (xxv) risks associated with any default under the Companys debt agreement; (xxvi) risks associated with the Companys ability to make payments on and to repay or refinance the Companys debt or generate sufficient cash; (xxvii) the Companys equity securities will be cancelled on or before the conclusion of the Companys Chapter 11 cases with no payment or other distribution thereon; and (xxviii) those discussed under the heading "Item 1A. Private Greater New York Area Companies (Top 10K), Greater New York Area Companies (Top 10K), East Coast Manufacturing Companies (Top 10K), Private City of New York Companies (Top 10K). We believe in the New York & Company and Fashion to Figure brands and the opportunity to use these e-Commerce platforms to continue to grow the business as we move forward. 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Free and open company data on New York (US) company SAADIA GROUP LLC (company number 3922496), 1 W 34TH STREET, 10TH FLOOR, NEW YORK, NY, 10001 The Saadia Group is deeply committed to continue the rich legacy of the heritage brand in a modern, progressive way. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. This comes only a few months after Saadia closed a deal for the New York and Co. brand, with similar plans to start an online business. Finally, I wanted to thank the Retailwinds, Inc. Board of Directors, who supported us through this process as well as our extraordinary team of legal and financial advisors from Cole Schotz, BRG and our investment banker, B. Riley Securities, who were able to attract several interested parties and execute this transaction in the middle of an unprecedented pandemic., Jack Saadia, Chief Executive Officer of Saadia Group, LLC, commented: We are delighted to have successfully closed on the purchase of this business. San Francisco Bay Area, Silicon Valley), Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Finance Manager, Principal, and Co-founder. Jack Saadia, principal and cofounder of Saadia Group, said his business has "continued to shift and grow, especially through the pandemic until now, and as we've pivoted largely from a. 1 W 34th St Fl 10. Looking to the future, we believe the new company is well-positioned for organic growth within the digital space with both the New York & Company and Fashion to Figure brands. Citywide shutdowns of nonessential businesses exacerbated the problem last year, resulting in a glut of retail space in the city as well as record levels of sublease availability in commercial buildings, according to a report from Savills. Jack Saadia, principal and co-founder of Saadia Group said: "The addition of Aquatalia to our growing family of brands strengthens our reach and the ability to serve additional consumers. are serving as its legal advisor; and Bob Duffy and Rob Shapiro of BRG are serving as the Companys Financial Advisor with Rob Shapiro also serving as the Companys Chief Restructuring Officer. White Oak Commercial Finance, LLC, an affiliate of White Oak Global Advisors, LLC, announced it provided a $25 million ABL facility to Saadia Group, LLC for the acquisition of two women's apparel brands from e-commerce retailer, RTW Retailwinds Inc. ("RTW"), which is undergoing bankruptcy proceedings. Saadia Group, Lord & Taylor's new owner, has found a new office in Midtown. We look forward to building this brand and are enthusiastic to continue to add to our portfolio within the luxury market.". The new, digital-only approach underscores the challenges department stores have faced . } Saadia Group Who we are Portfolio Careers Previous Next 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 We own and manage over 10 million square feet of commercial real estate space and 12 million square feet of industrial buildings across the country. color: #ddd; Jack Saadia, principal and cofounder of Saadia Group, said his business has "continued to shift and grow, especially through the pandemic . Amazon picked up the property last year for $1.15 billion and plans to open a 2,000-person office in it. CASE NO. Office availability hit 15.5 percent in February, the worst on record, according to Colliers Internationals monthly market snapshot. The Court filings and other information related to the proceedings are available on a separate website administered by the Companys claims agent, Prime Clerk, at https://cases.primeclerk.com/RTWRetailwinds/. Gabe Marans, Andrew Zang and Greg Albert of Savills represented Saadia in the lease, while C&W handled it in-house via Stuart Romanoff, Franklin Speyer, Michael Baraldi and Lexie Perticone. New York, NY 10001-3011. - Marketing has picked up for the former Toys 'R Us warehouse in Flanders, which closed last year and was purchased for $90 million as part of with product at New York & Company and a debut at Lord & Taylor," said Jack Saadia, principal and cofounder of The Saadia Group. .article-native-ad p { border-bottom: 1px solid #ddd; Alongside classic favorites, the updated assortment will focus on up-and-coming and emerging brands. Saadia Group, an American multi-brand, end-to-end platform known for being leaders in product manufacturing, wholesaling, retailing and distribution, has agreed to acquire the assets of its. MOUNT OLIVE TWP. Risk Factors" in the Companys Annual Report on Form 10-K for fiscal year 2019. line-height:1.5; of Savills represented Saadia in the lease, while C&W handled it in-house via. Margarita Ricarte. Jack Saadia, Principal and Co-Founder of The Saadia Group said: "The future of retail is fast and agile, mirrored by our team which has managed to put together a fantastic assortment of merchandise and a website in record time of less than 120 days. NetSuite will help premier holding group of online retail brands grow its business with improved speed, efficiency, and return on investment Austin, Texas - WEBWIRE - Wednesday, January 25, 2023 Saadia Group, a family-owned holding group with a diverse portfolio of leading consumer brands including Lord . See all Saadia Group LLC current commercial real estate listings and brokers from the Saadia Group LLC office at 1 W 34 St, New York, NY 10001. In early 2019, Saadia Group was faced with the decision to continue outsourcing most of their warehousing or bring operations in-house. In 2020Amazon took it off WeWorks hands for nearly $1 billion. We are leaders in multi-category Product Manufacturing, Wholesaling and Retailing. Jack Saadia, Chief Executive Officer of Saadia Group, LLC, commented: "We are delighted to have successfully closed on the purchase of this business. The Saadia Group is the latest among a small selection of operators giving a second chance to distressed retail operations. Moving Party to give Notice. JUDGE: RAUL A. SAHAGUN #5. 917-952-8676. Finally, I want to thank our team at the Saadia Group, our legal team at Armstrong Teasdale and Robinson and Cole, and especially White Oak Commercial Finance, who all supported us through this process and helped us close this extremely complicated transaction.. The company will be joined there by several businesses in Saadias portfolio. Catering to a diversified portfolio of consumer products across multiple categories targeting all age demographics from Fashion Apparel in Men's, Women's & Kids, Footwear, Women's Handbags, Home Textiles, Furniture/Dcor & Tech Accessories and more. As for the Lord & Taylor building, it has changed hands several times since the retailer moved out. Now Saadia Group is planning Lord & Taylor's revival with a revamped website that initially will focus on women's and men's apparel, homewares and beauty, according to Women's Wear Daily. The funding supports Saadia Group's acquisition of RTW's e-commerce brands, New York & Company and Fashion to Figure, and their . Jack Saadia is the Finance Manager, Principal, and Co-founder at Saadia Group. This office space will provide our teams with a collaborative and safe working environment that will ultimately lead to growth and expansion across our network of brands.. first reported. Sponsored Content: You Dont Need a CIO or an IT Guy! Jack Allen, LLC: 105 W. 29th St., Apt. not a debt instrument. C/O Saadia Group. Perry Mandarino, Senior Managing Director and Gideon Rosenbaum, Director of B. Riley Securities, an affiliate of B. Riley Financial, Inc. (NASDAQ:RILY), are serving as the investment banker to the Company; Ryan Jareck and Michael Sirota, Members of Cole Schotz P.C. Saadia Group, the parent company that owns and operates brands like New York & Company, Lord & Taylor, and Le Tote, are leaders in multicategory product manufacturing, wholesaling, and retailing. Its New York City office brings Lord & Taylor back to the neighborhood after it sold its 424 Fifth Avenue flagship to WeWork and Rhne Capital for $850 million in 2019. The sale was previously approved by the Bankruptcy Court on September 4, 2020. Company principle Jack Saadia has not said whether physical . As part of the deal, Saadia inherited Cushmans furniture and equipment. Read the latest edition of the Commercial Observer online! In a statement, co-founder and principal Jack Saadia said it marks "just the beginning" for the nearly 200-year-old department store. NEW YORK, Sept. 22, 2021 /PRNewswire/ -- Saadia Group, a multi-brand, end-to-end platform known for being leaders in product manufacturing, wholesaling, retailing, and distribution, proudly. The funding, completed in less than 30 days, supports Saadia Group's acquisition of . MOUNT OLIVE TWP. The Company undertakes no obligation to revise the forward-looking statements included in this press release to reflect any future events or circumstances. }. Founded by Jack Saadia in 1996 and headquartered in New York, Saadia Group has become a leader in online sales since then, bringing each of its portfolio brands to the forefront of e-commerce by utilizing Sellercloud's Skustack and Skublox. Jan 2010 - Present13 years 3 months. Catering to a diversified portfolio of consumer products across multiple categories. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. We believe in progressive thinking and dont shy away from challenging conventional thinking and the status quo. Defendants seek sanctions from Plaintiff and Plaintiff's counsel, Mr. Zarin, alleging that Mr. Saadia was unprepared for the deposition and that Plaintiff's counsel frustrated the deposition through numerous speaking objections and instructions to not answer. 542) was offered as evidence by Saadia. And in the case of Toys R Us, weve seen the brand shut down, reopen, To Read the Full Story Become an Adweek+ Subscriber. Through its Saadia Direct division, branded merchandise is sold exclusively at retail and outlet locations and online at www.nyandcompany.com, www.fashiontofigure.com, www.letote.com, www.nyandcompanycloset.com, www.fashiontofigurecloset.com, www.lordandtaylor.com, www.vintagefoundryco.com, www.thechichomestore.com, www.xrayjeans.com, and www.hybridgreenlabel.com. . We are extremely excited to continue this next chapter in the New York & Company brand story with more than 100 associates who will be employed by the new company. This press release contains certain forward-looking statements, including statements made within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain hearsay statements in the Saadia Declaration were not admitted as evidence based on the Debtors' objections but most of the Declaration was allowed. Retail Ecommerce Ventures in December acquired Stein Mart in bankruptcy court for $6.02 million, with plans to relaunch online this year. The Saadia Group has launched famed American brand and former department store Lord & Taylor as a digital Collective Store. We are looking at a vastly updated assortment, limitless digital aisles and many more exciting experiences," says Jack Saadia, principal and co-founder of The Saadia Group. Sheamus Toal, Chief Executive Officer of RTW, commented: We are delighted to have successfully closed on the sale of our business, maintaining the legacy of our New York & Company brand and continuing Fashion to Figures tremendous growth. Office will be used as an e-commerce showroom, Saadia Group, Lord & Taylor's new owner, will sublet its new headquarters from Cushman & Wakefield. It also picked up the e-commerce business of. Contact Information. "We are deeply committed to continuing the brand's rich legacy in a progressive way. The following year, a hugely successful Black Friday/Cyber Monday sale forced Saadia Group to make the decision of whether to ship late or cancel thousands of orders. Asking rent was $49 per square foot, a source with knowledge of the deal said. NEW YORK, April 16, 2021 /PRNewswire/ --Today, The Saadia Group officially launched the iconic American brand, Lord & Taylor as a digital Collective Store. authenticate users, apply security measures, and prevent spam and abuse, and, display personalised ads and content based on interest profiles, measure the effectiveness of personalised ads and content, and, develop and improve our products and services. The investment firm, which acquired retailers Lord & Taylor and New York & Companyin a bankruptcy auction in October 2020, will operate the brands as e-commerce businesses with a new headquarters at RPW Group's275 Madison Ave. Europe, Menlo Park, China), Where the person is located (e.g. Saadia purchased New York & Co. and sister brand Fashion to Figure, a plus-size retailer, for $40 million. All rights reserved. Lists Featuring This Company TENTATIVE ORDER. The Saadia Group has redeveloped 10 million square feet of commercial space and 12 million . Solemates is a revolutionary foldable flats company catering to the aching feet of every hard working woman! We believe in the New York & Company and Fashion to Figure brands and the opportunity to use these e-Commerce platforms to continue to grow the business as we move forward.