Outerstuff is a leading provider of The sports apparel entrepreneur is a gifted raconteur known for his colorful Super Bowl stories. The company says on its website that it has licenses to produce apparel with Major League Baseball, the National Football League, the National Hockey League and National Basketball Association, as well as Major League Soccer and the U.S. Olympic Committee. Since joining Crain's Detroit Business in 2013, he has written about leasing, development and property sales in Detroit and its suburbs, as well as the industry's trends, personalities and quirks. Sol Werdiger is ready for the big game. Werdiger thinks it could be a $30 million wholesale business in its initial year and says hell do whatever we can to get that brand on the field again.. Barnett is partnered with Solil to build a 52-story, 710,000 square foot residential building in Hell's Kitchen. website at www.meor.org. By Rabbi Dovid Saks Jewish Heritage Connection, 601 Jefferson Avenue , @ the JCC of Scranton, Scranton, PA 18510. Solomon has many family members and associates who include Rony Majer, Michael Roscetti, David Cooperstock, Casey Majer and Rene Majer. Outerstuff will sell Umbro-logoed mens, womens and youth apparel beginning in January. She is now best-known as a premier heirloom horticulturalist and is also a political megadonor, having given about $2.5 million to democratic campaigns or super PACs so far this election cycle, according to the Center for Responsive Politics. Outerstuff is a leading designer and manufacturer of branded youth apparel for the major sports leagues in North America as well as Adidas and more than 200 leading colleges and universities. Address: 1412 Broadway FL 18 New York, NY, 10018-9258 United States See other locations Phone: Website: www.outerstuff.com Employees (this site): Actual Employees (all sites): Actual Revenue: Modelled Year Started: ESG ranking: ESG industry average: What is D&B's ESG Ranking? Sol Werdiger, CEO Outerstuff shares a fascinating story about a South Korean vote in the UN. The long legal battle became the largest trust case in New Yorks history. After his death, his estranged wife Lillian, and later Lillian and her children together, appeared on The Forbes 400 list until 1996. It is owned by GPC Adams LLC; city land records say the two properties that comprise the site 2047 Woodward Ave. and 25 W. Elizabeth St. were last sold in 2013 for $4.25 million. Further information is available at www.blackstone.com. Contact:Oriane Schwartzman Sign up for our Commercial Real Estate Report newsletterto receive the latest news, exclusives and analysis right in your inbox. Blackstone is one of the worlds leading investment and advisory firms. Sol Werdiger was the Founder & CEO at Outerstuff. Sol Werdiger of New York City was identified as being a 50 percent owner of an entity called GPC Adams LLC that stands to earn hundreds of millions of dollars in revenue in the long term under a . At Outerstuff, our vision is to become the preeminent global provider of apparel serving our sports league and brand partners, said Sol Werdiger, Outerstuff founder and chief executive officer. With the complexities in sizing that we have in kids, that should be easy.. Under terms of the lease, GPC Adams is to collect $35 per square foot for the building's 199,370 square feet of office space, $50 for each of the 3,801 square feet of retail and $300 for each of the 311 parking spots, making a 2022 first-year rent collection of about $8.29 million if the entire building is leased. Headquartered in New York, New York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to be CEO today, and has built a market-leading position by delivering high quality products and . Maryland (www.meormd.org), a Ratings also noted the challenges of the pandemic, including the uncertainty of when fans will return to sporting events. At the top of the licensed-sports apparel market, elite sports properties are selling deals based more on the value of TV exposure than on what their apparel rights are worth at retail. CB Rank (Person) 9,352. Register for a free SBJ account to unlock one extra article per month. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. A small monthly contribution goes a Sometimes Solomon goes by various nicknames including Sol Werdiger. Award-winning original reporting, with in-depth profiles, timely research and expert opinions on the biggest issues and stories in sports business. He did not elaborate on what other properties were considered or what its requirements were. "They determined that this was the best deal for the company and that they shouldn't not go forward just because of the conflict," Schipani said. More than two decades of archival stories, profiles, research and data. Average Outerstuff Ltd. Salary | PayScale Cindy Schipani, the Merwin H. Waterman Collegiate Professor of Business Administration and a professor of business law in the Stephen M. Ross School of Business at the University of Michigan, also said the lease and development deal seems to have been appropriately reviewed and approved. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. The saga starts with Sol and Lillians tenuous marriage. League deals are getting very costly and we dont sell shoes, so we have to make money serving the apparel market, said Werdiger, one of the few licensed product companies to sell through all classes of retail distribution. Sol Werdiger Meaningful People. There are two parts of this business today, Werdiger said. "Our partnership with Blackstone gives us the financial resources and expertise we need to realize that vision. Werdiger's business is likewise booming. "In this business, you make money slowly. companies in the Jewish world. Childs play. Sol Werdiger - Chief Executive Officer for Outerstuff International Ltd. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. In reality, solpuga is a genus of arachnids from the order of solifugae, which might suggest that the solpuga from Andrzej Sapkowski's novels is an arachnid as well. Ratings had downgraded Outerstuff in May 2020 to SD after it missed an interest and principal payment due March 31 on its term loan. This past weekend I heard an amazing story: Mr. Sol Werdiger, CEO of Outerstuff, a company that produces sports apparel, received a phone call from Mr. Oh Joon, the South Korean UN Ambassador asking to meet him for lunch at a Kosher restaurant in Manhattan. For press inquiries, contact [emailprotected]. According to Ratings, Outerstuff also renegotiated terms of its licenses with "most major sports leagues," significantly reducing minimum guaranteed royalties. affairs. On Leadership - The 5 Towns Jewish Times Allan Goldman, co-chair of Solil Management, pictured more than a decade ago with a young Steven [+] Gurney-Goldman, who is now working at Solil and will one day take over his father's position. Read reviews from current employees that include compensation and culture insights. Theres also Solils partnership with British Firmdale Hotels, which built Sohos high-end Crosby Street Hotel on Solil-owned land and afterwards, leased another 120,000-square-foot site to build a hotel on some of Solils land on West 56th Street. Technology Sofia Gross Public policy manager at Snapchat. A young Sol Goldman, who would go on to build one of New York City's most valuable real estate [+] portfolios. The Best Way to Fight Negative Jewish Stereotypes - Aish.com [Fanatics] can max out e-commerce; well be happy to be the sports licensee thats maxing out the brick-and-mortar licensed sports apparel business., Tony Petitti era begins at Big Ten; Can the Senators really land a $1B deal? Welcome to Jews You Should Know, introducing the broader community to interesting and inspiring Jewish men and women making a difference in our world. It projects debt-to-EBITDA will be around 8x in 2021, while expecting the company to run free cash flow negative as it rebuilds inventory. A message left with Werdiger, the founder and CEO of New York City-based children's sportswear maker Outerstuff LLC, was not returned last week. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Forbes untangled the story from thousands of legal documents packed in boxes pulled from the court archive. Longtime MLB jersey rights holder Majestic is up for sale by its parent, VF, and Werdiger said Outerstuff is aggressively going after the portion of VFs business sold through mid-tier and mass retail channels. Visit Individual Investors & Financial Advisors. Blackstone Chemical Bank and TCF finalized a $3.6 billion all-stock merger on Aug. 1, creating a bank with $47 billion in assets and $35 billion in deposits, the 27th-largest nationwide. Sol also rarely sold. Outerstuff upgraded by S&P Global Ratings to CCC on deal with lenders For press inquiries, contact[emailprotected]. Headquartered in New York, New York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to be CEO today, and has built a market-leading position by delivering high quality products and sales performance to its league and apparel partners. values. The deal has drawn attention because of the relationship between Gary Torgow, who was chairman of Chemical Bank before its merger with TCF Bank, and the group that will be the new TCF Bank's landlord. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. Born to Holocaust survivors, Sol was raised to always push himself to grow closer to Hashem. Together his four children are worth at least $12.2 billion, or $3.05 billion apiece. Click below to sign in. Sports Business Daily in 2016 reported that Outerstuff has 350 employees and was founded in 1983. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. https://www.sportsbusinessjournal.com/Journal/Issues/2016/07/11/Marketing-and-Sponsorship/Company-Watch-Outerstuff.aspx. The industry is changing and leagues are looking for new ways to do business," said Outerstuff CEO Sol Werdiger, who founded the company as a youth outerwear company in 1983. Outerstuff's Annual Report & Profile shows critical firmographic facts: What is the company's size? Outerstuff started in 1983 as a manufacturer of childrens outerwear. To receive email alerts from Blackstone, sign up below. OUTERSTUFF Revenue, Growth & Competitor Profile - IncFact.com Congress Susan Wild Congresswoman from Pennsylvania. Outerstuff is a leading designer and manufacturer of branded youth apparel for the major sports leagues in North America as well as Adidas and more than 200 leading colleges and universities. Outerstuff has kids licenses across top U.S. leagues. Transform pay with our enterprise-grade comp platform, Automate compensation with our full-suite solution, Payscale's employer-reported salary data network, The world`s largest employee-submitted pay database, Annual survey salary data from HR industry publishers, The crowdsourced compensation data API for developers, 100% company submitted data from 2,000+ businesses, Schedule a personalized demo to feel the power of Payscale, Find salary information for similar job titles and locations, Comp Planning Business Case Pitch Deck By clicking Download Pitch Deck, you. GPC Adams is an affiliate of Sterling Group, the Detroit-based real estate company that Gary Torgow started in the 1980s. For information on our privacy practices see our Privacy Policy. "At Outerstuff, our vision is to become the preeminent global provider of apparel serving our sports league and brand partners," said Sol Werdiger, Outerstuff founder and chief executive officer. When Sol died in 1987, he was New Yorks largest private landlord. Its U.S Olympic Committee rights now include adult apparel, which is sold in retailers including Gap and Old Navy, which rarely sells sports licensed apparel. Like Outerstuff Ltd., countless American employers sponsor health coverage for their employees, through which a significant percentage of each worker's health insurance Read more, Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. Some of Outerstuffs collegiate rights also include adult togs. We have 600,000 SKUs in our NFL business alone, said Werdiger, with a tone of disbelief at the statement. Aside from a well-earned reputation for solid service and supply-chain expertise across a disparate base of retailers, recent additions to Outerstuffs domestic production capabilities and an expanded team of designers, which totals more than 100 in New York, are helping Outerstuff grow into adult sizing. View Sol Werdiger's profile for company associations, background information, and partnerships. They attempted to reconcile and in 1984 they signed a formal agreement, which won Lillian 33% of his estate. The vagaries of fusion technology or keeping up with Moores Law? We believe in the long term strength of the New York City real estate market and think that if we manage our holdings patiently without taking on excess risk and leverage we should be able to weather many of the challenges that we are sure to encounter as we grow with the company, Steven Gurney-Goldman, Allan's son, told FORBES recently. Now that weve aggregated all of the youth rights, obviously the next logical step would be for us to go and bid for the adult rights. "I have no ownership of the Sterling Group. "About This Company" data & logos provided by. I am extremely excited about working with Blackstone as we begin the next chapter of our growth story.. NEW YORK, NEW YORK May 27, 2014 Outerstuff, Ltd., (Outerstuff or the Company) the leading designer, manufacturer and marketer of licensed childrens sports apparel for all of the major sports leagues in North America, today announced that it has closed an investment from private equity funds affiliated with Blackstone (NYSE: BX) (Blackstone). Sam Munaco, a longtime Detroit commercial real estate broker focused on tenant representation, said the lease is a fair deal between the bank and GPC Adams. Outerstuff designs, makes and markets licensed children's sports apparel for major sports leagues in North America, including the NFL, MLB, NBA, NHL and MLS. Sorry, something went wrong with the copy but here is the link for you. However, new office construction asking rates are considerably higher, with Dan Gilbert's and the Ilitch family's new office space asking for rents in the high $30s to low $40s per square foot, sources have previously said. (Photo courtesy of the Goldman family), This story appears in the July 26, 2016 issue of Forbes. Sol Werdiger - Crunchbase Person Profile One is like renting billboards. You can see it in the citys skyline (particularly over on Madison Avenue between 37th and 84th streets, large parts of which his heirs still own). New research shows how to set pay for remote employees. The Audit Committee of the Board [of which (Gary) Torgow is not a member] also approved this lease agreement.". Follow Blackstone on Twitter @Blackstone. But each is a Jew You Should Know. Sol Goldman, with his youngest daughter, Jane, in an undated photo taken before Sol passed away in [+] 1987. Hashem (sanctification of G-d's name), in all of his business Amy, 62, had worked at the office as well, before earning a P.h.D. Outerstuff is a leading designer and manufacturer of branded youth apparel for the major sports leagues in North America as well as Adidas and more than 200 leading colleges and universities. Jane oversees the daily operations of the real estate company her father built. Outerstuff is also looking to complement its strength in licensed sports apparel with a branded play. Turns out, he was right., This is a BETA experience. Jane Goldman, acting chair of Solil Management, pictured with her son, Michael, who is being prepped [+] to one day take over the company with his cousin. Maestas talks with SBJs Abe Madkour about the early days of Navigate, which he said he founded with too little knowledge, though good fortune as far as timing made up for my mistakes. Maestas traces his career path and personal development, and highlights the attributes and practices that he believes help make a successful business person and human being. Once New Yorks biggest landlord, Sol Goldmans legacy lives on. Switchboard: +1 (212) 583-5000. For additional information on Outerstuff, visit www.outerstuff.com. The other is servicing retailers by building scale and providing the level of service any big league needs. He is also a deeply committed Born to Holocaust survivors, Sol was raised to always push himself to grow closer to Hashem. Torgow and Werdiger are active with Agudath Israel of America, which describes itself as a "diverse cross section of leading Orthodox rabbis, activists, philanthropists and everyday community members." Outerstuff is a leading provider of sportswear - jerseys, youth-wear and more - for most of the major sports leagues in the United States. By. Jew, focused very much on the themes of integrity and Jewish The Solil portfolio, which has largely remained in tact, is now worth 16-times more. Please visit www.JewsYouShouldKnow.com, follow us on Twitter Some are already famous, some not yet so. Some are already famous, some not yet so. Under normal circumstances, Sol Werdiger, founder and CEO of Outerstuff the popular youth sports apparel manufacturer is a gregarious presence on Super Bowl weekends. The main point is not to sell anything," Sol told FORBES in 1985, Americas Richest Families: An eBook From Forbes. Kirk Pinho is a senior reporter covering commercial real estate. When Lillian died in 2002, her estate (including cash and properties worth $374 million) was divided nearly equally among her children, according to court documents obtained by FORBES. He has formed life-long relationships with some of the world's biggest Rebbas and Gidolim. I lead Forbes coverage of food and agriculture. Thats enough to make the Goldmans Americas richest real estate family, and to rank them 16th among the country's richest families - ahead of the clan that created "What's important to keep in mind is that they need to be vigilant on this. There is also a $10.49 million property tax abatement, according to an MSF briefing memo at the time. Matthew Kassel. Episode 085 - The Outerstuff CEO: A Conversation with Sol Werdiger. At the time, the youth business was around a tenth the size of the adult licensed sports apparel market. He also said other properties were considered but none met all of the bank's requirements for its move from Midland to Detroit. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. SBJ I Factor presented by Allied Sports features an interview with Navigate founder A.J. They've already added a millennial perspective, and have started work on Solil's first website. 2023 Leaders Group. 49 print issues delivered to your home or office. The vagaries of fusion technology or keeping up with Moore's Law? Chemical Bank has said in filings with the U.S. Securities and Exchange Commission that Torgow "recused himself from all Board deliberations related to this lease agreement, and none of (the) adult children are directors, officers or employees of (Chemical Financial Corp.) or Chemical Bank. The bank had previously said it would not seek public financing, but changed course in recent months. Outerstuff - Home - Facebook But it's their plans to transform a parking garage in Tribeca into mixed residential and retail high-rise, as Solil's first-ever sole development, that will make others take notice. sportswear - jerseys, youth-wear and more - for most of the major Crain's Senior Editor Chad Livengood contributed to this report. Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. With a Crains Detroit Subscription you get exclusive access, insights and experiences to help you succeed in business. Ratings believes the company could default in the next 12 months, "especially if the new controlling owner, CEO Sol Werdiger, attempts to retire outstanding debt at a significant discount." In addition, photos of the two men at the White House during the Obama administration are posted online. Powered by: AMR Pharmacy and DailyGiving.org. The project is set to be more than 1.1 million square feet covering 87 acres of the former home of the Detroit Pistons. "We worked with the Federal Reserve to make sure they understood the relationship. Outerstuff | LinkedIn "It looks like they went through the property analysis and proper steps.". It is now owned and run by his children, Torgow told Crain's. Its a blip on the whole picture of who my father was and the things he accomplished. It was her last public interview, and she and the rest of her siblings declined to be interviewed for this story. Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? A development structure in which Chemical Bank owned the building had been envisioned but that changed to a lease arrangement as one of the negotiating points with TCF, Tom Wennerberg, a spokesman for Chemical Bank, said at the time. Active 2005 1 Chief Executive Officer Excel Known Addresses for Sol Werdiger. The Story of Sol Werdiger - Chairman of Agudath Israel of - YouTube Blackstone was advised by Wells Fargo Securities and Simpson Thacher & Bartlett LLP. Regions Greater New York Area, East Coast, Northeastern US. "We've been dealing with this, I would say, obvious and visible relationship since we chose specifically, I chose that location," Shafer said last week. FORBES estimates are based on properties identified through public records searches and valuing the investments based on market rates and the net operating income reported by the city, which was $400 million in 2015. Try another search query or. Outerstuff designs, makes and markets licensed childrens sports apparel for major sports leagues in North America, including the NFL, MLB, NBA, NHL and MLS. From the heart of New York Citys Garment District, Werdiger passionately cites statistics supporting his contention that the sports licensed apparel business is more intricate and demanding than building the next million-dollar app. Mr Sol Werdiger (CEO of Outerstuff and community activist - Facebook A year later, the legendary investor said "Every time I sell, I'm sorry.". Both Solil and cousin Lloyd Goldman's BLDG Management each also have a 16.67% stake in the World Trade Center projects reinvigorating downtown Manhattan. Timely, daily updates provide the latest developments and news relied upon by industry leaders. (212) 594-9700. www.outerstuff.com. Total number of Crunchbase contacts associated with this organization, Total number of employee profiles an organization has on Crunchbase, Total number of investment firms and individual investors, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. Our Fair Pay score for Outerstuff Ltd. is 2. February 10, 2022 Sol Werdiger, founder and CEO of the youth sports apparel manufacturer Outerstuff, has attended every Super Bowl game for more than two decades. Photo Courtesy of the Goldman Family. By selecting the relevant option, you certify that it accurately reflects your residency. That is still true today: Solil currently has debt-to-equity estimated at an unusually low 3%. It's an important job and a serious undertaking with great challenges and even greater rewards when things work out right. Born to Holocaust survivors, Sol was raised to always push himself to grow. Jane oversees the daily operations of the real estate company her father built. There are 7 other people named Sol Werdiger on AllPeople. The host, Rabbi Ari Koretzky, is Executive Director of MEOR It recently took a license for the 92-year-old Umbro soccer brand, owned by Iconix Brand Group. He reports that Outerstuff has "600,000 SKUs in our NFL business alone. New York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to be CEO today, and has built a market-leading position by delivering high . sports leagues in the United States. "He takes great. Youngest daughter Jane, who oversees Solil's daily operations, is the only female billionaire running a real estate portfolio. February 8, 2023 Sol Werdiger following a meeting with Bibi Netanyahu By Larry Gordon Shloime (Sol) Werdiger approaches his role as a leader in the Torah-observant world calmly and thoughtfully. Sol Werdiger, founder and CEO of youth licensed sports apparel manufacturer Outerstuff, has a sheaf of data he'll throw at any Silicon Valley executives who think their business is complex. Annual 2 percent rent increases are built in to the lease and, for the full 22 1/2 years, GPC Adams is set to earn $232.65 million, split 50-50 between Park Elizabeth Associates and Werdiger's ownership entity. | By YEHUDI Facebook Log In Watch Home Live Shows Explore More Home Live Shows Explore CLAIM THIS BUSINESS. He has attended every championship game of the National Football League for more than two decades, always using the occasion to connect with local Jewish community members. Our partnership with Blackstone gives us the financial resources and expertise we need to realize that vision. General Motors plans $200M EV parts plant at Palace of Auburn Hills site, Greektown hotel renovations near the finish line, Ishbia and other UWM execs made less in 2022 than 2021, Detroit city airport on shortlist for flying taxi maker's new plant, Restaurant Roundup: Detroit Hudson Caf to reopen in May; new concept from Vicari and more, Crash test pioneer Robert Denton and wife die in plane crash, Harley-Davidson: Not enough people to repossess all the motorcycles. According to the Southfield office of brokerage firm Newmark Knight Frank, the average asking rent for existing Class A office space was $26.58 per square foot in the second quarter. "I don't think this is the last deal of this kind we'll do. After his death, his estranged wife Lillian, and later Lillian and her. Sol Werdiger - Jewish Insider We identified a great niche in kids. Outerstuff, Ltd. Announces Blackstone Equity Investment Alex died that same year and his sons literally flipped coins with Sol, playing heads or tails to divvy up the rest of the portfolio. What your skills are worth in the job market is constantly changing. Photo Courtesy of the Goldman Family. | Starting next Wednesday, May 22 join Olami Professional Circles here in Miami. Photo Courtesy of the Goldman Family. Sol Werdiger, CEO Outerstuff shares a fascinating story - Facebook

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