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. . 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. Manhattan has an ever-increasing amount of sublease space in the wake of the coronavirus pandemic, which has started to drive down the prices on direct deals. padding:0!important; "We are excited to have Gabrielle Union join the Saadia Group, her brand is the perfect fit for our family of brands. Saadia Group is in multi-category product manufacturing and retailing. It also received a 30 percent discount on the buildings direct pricing, according to Gabe Marans, a broker at Savills. 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. Appealing to and targeting all age demographics, Saadia primarily focuses on mens, womens, and kids fashion and apparel, furniture, and home goods. We hold these values proud and high throughout the company, our community, and in our way of doing business. The space will look nothing like Lord & Taylors previous 660,000-square-foot flagship on Fifth Avenue. New York, NY 10017 color: #ddd; Jack Saadia. New York City is an integral part of the brand DNA for both Lord & Taylor and New York & Company, said Jack Saadia, principal and co-founder of Saadia Group. Then we got introduced to Sellercloud." Yossi Kbabieh Founder Solution JUDGE: RAUL A. SAHAGUN #5. Contact Information. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. in the wake of the coronavirus pandemic, which has started to drive down the prices on direct deals. . In 2020Amazon took it off WeWorks hands for nearly $1 billion. If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. from 8 AM - 9 PM ET. Saadia Group, Lord & Taylors new owner, has found a new office in Midtown. }. Jack Saadia, principal and cofounder of The Saadia Group, said customers had asked for . It was truly an honor to lead and partner with such an amazing group of individuals. Saadia Group, LLC paid $40 million for New York & Company's e-commerce business in September of 2020. . To learn more about the brand, visit www.lordandtaylor.com, and look out for further updates on the official social channels. 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. first reported. jQuery(document).on("ready", function() {jQuery(".center").slick({dots: !0,infinite: !0,centerMode: !0,slidesToShow: 3,slidesToScroll: 1,autoplay: !0,autoplaySpeed: 3000,responsive: [{breakpoint: 768,settings: {slidesToShow: 1,centerMode: false,slidesToScroll: 1}}]})}); 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. Jack Saadia, Chief Executive Officer of Saadia Group, LLC, commented: "We are delighted to have successfully closed on the purchase of this business. Office availability hit 15.5 percent in February, the worst on record, according to Colliers Internationals monthly market snapshot. From exclusive collaborations and merchandise to first-class service and unique events, this new chapter promises to bridge the 195-year heritage with a modern, innovative future. Saadia Group is building a transformational company and digital platform that will change the retail and brand landscape for current and future generations. Today's unveiling is just . YourSolemates. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. In the past year, weve seen retailers like Century 21 and Lord & Taylor shut down only to announce plans to reopen months later. The funding, completed in less than 30 days, supports Saadia Group's acquisition of . 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. 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. Saadia Group, Lord & Taylor's new owner, is taking the once-sprawling retail empire, which had anchored a 660,000-square-foot building on Fifth Avenue, and packing it into three floors of a. All parties were offered the opportunity to cross-examine the witnesses who were available by telephone, but no one Choose the right Crunchbase solution for you Start Your Free Trial "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," said Jack Saadia, principal and co-founder of The Saadia Group, in a statement. New York, NY 10001-3011. In the fall of 2019, Saadia Group bought the e-commerce business of RTW Retailwinds Inc., the company that owned New York & Company and Fashion to Figure, a large-size women's chain, for $40 million. ABOUT THE SAADIA GROUPThe Saadia Group are the leaders in multi-category product manufacturing, wholesaling and retailing. 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. 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. We look forward to building this brand and are enthusiastic to continue to add to our portfolio within the luxury market.". , 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. The city was founded in 1794 by a strategic decision of the Empress Catherine II to build a warm-water port following the conclusion . 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 . Under Saadia Direct, the iconic American brand will make its digital comeback and will be relaunched as America's first Collective Store. 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). Jan 2010 - Present13 years 3 months. The Saadia Group are the leaders in multi-category product manufacturing, wholesaling and retailing. of Savills represented Saadia in the lease, while C&W handled it in-house via. For companies out there looking for a solution thats going to assist with their multi-line orders, Skublox is an absolute game changer., Home Security Alarms and Security Cameras. 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 supports Saadia Group's acquisition of RTW's e-commerce brands, New York & Company and Fashion to Figure, and their . Jack Saadia Finance Manager at Saadia Group LLC New York, New York, United States 3K followers 500+ connections Join to view profile Saadia Group LLC Activity Over the last few days we've. https://cases.primeclerk.com/RTWRetailwinds/, https://www.businesswire.com/news/home/20201002005463/en/, International drug bust nets $677 million of cocaine bound for Australia, UK MILITARY INTELLIGENCE - UKRAINIAN-HELD RESUPPLY ROUTES OUT OF, UK MILITARY INTELLIGENCE - UKRAINE IS REINFORCING THE AREA WITH, BBC tax raids shine light on Indian media freedom under Modi, some journalists say, UK MILITARY INTELLIGENCE - REGULAR RUSSIAN ARMY AND WAGNER GROUP, UK MILITARY INTELLIGENCE - UKRAINIAN DEFENCE OF DONBAS TOWN OF B, Gazprom to ship 39.8 mcm of gas to Europe via Ukraine on Saturday, China parliament to review state entity reform plan, Legislative Law, Magnitude 6.6 earthquake strikes Kermadec Islands, New Zealand - EMSC, Rwanda says Congo soldier killed after crossing border and opening fire, Flooding in southern Malaysia forces 40,000 people to flee homes, China's defence spending increases have been 'reasonable' - parliament spokesman, Japan delays launch of H3 rocket by a day due to weather, JAPAN'S JAXA SAYS IT DELAYS LAUNCH OF H3 FLAGSHIP ROCKET BY 1 DA. Read the latest edition of the Commercial Observer online! 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. NEW YORK, April 16, 2021 /PRNewswire/ --Today, The Saadia Group officially launched the iconic American brand, Lord & Taylor as a digital Collective 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 announced today that it has agreed to acquire the assets of its first luxury fashion label, Aquatalia, from Global Brands Group. We are excited to offer our product development expertise to relaunch her line bigger than before, with product at New York & Company and a debut at Lord & Taylor," said Jack Saadia, principal and cofounder of The Saadia Group.. "Our customers have been asking for the . 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. We also look forward to partnering with the Saadia Group, LLC and its principal, Jack Saadia, along with his dynamic team as they become a major force in the e-Commerce apparel sector., Mr. Toal continued: I would like to thank all of our associates both in our brick-and-mortar stores and within our headquarters for the tremendous dedication, hard work and professionalism that they have shown through extremely challenging times this past year. Mr. Jack Saadia, Principal and Co-Founder, Saadia Group Additional Contact Information Fax Numbers (212) 884-2396 Primary Fax Phone Numbers (212) 884-2000 Other Phone (276) 670-2139 Other. Stay connected to New York business news in print and online. We believe in the New York & Company. 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. "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. 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. Pursuant to the Companys filed Disclosure Statement and Plan of Liquidation, the sale will result in a distribution to the Companys unsecured creditors; however, 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. Will subleases flood the market? Saadia Group said it is "the perfect label to begin their portfolio within the luxury fashion world". 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.. with product at New York & Company and a debut at Lord & Taylor," said Jack Saadia, principal and cofounder of The Saadia Group. The sale was previously approved by the Bankruptcy Court on September 4, 2020. We, AOL, are part of the Yahoo family of brands. : *****0133. And tenants have been increasingly putting their offices up for sublet since June. } Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Moving Party to give Notice. 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. 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. Yossi Kbabieh, Sales Manager for Saadia Group, knew it was clear that sales were moving online as early as the mid-2000s. 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. Lists Featuring This Company The Saadia Group has redeveloped 10 million square feet of commercial space and 12 million . It also picked up the e-commerce business of New York & Companyowners RTW Retailwinds last year, which it has kept operational even as the retail shops shuttered. As America's first and oldest department store, Lord & Taylor has been the favorite store for generations of shoppers and launched the careers of several American designers. from 8 AM - 9 PM ET. Alongside classic favorites, [] The Saadia Group has launched famed American brand and former department store Lord & Taylor as a digital Collective Store. Sheldon Gross Realty said Wednesday that investment firm The Saadia Group recently closed on a 135,668-square-foot industrial facility, which sits on nearly 6 acres across Middlesex and Union. 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. The firm signed a sublease with Cushman & Wakefield for the space at RPW Groups 43-story Midtown building between 39th and 40th streets, Crains New York first reported. 1 W 34th St Fl 10. The Saadia Group has officially relaunched the iconic department store brand Lord & Taylor as a digital "Collective Store." The new incarnation will include exclusive collaborations and merchandise, as well as first-class service and unique events to "bridge the 195-year heritage with a modern, innovative future," the company said in a release. A spokesperson for C&W declined to comment. Saadia Group is a consumer goods company that sells both on e-commerce and wholesale. News business : Gabrielle Union is teaming up with the Saadia Group, a multi-category product manufacturing, wholesaling and retailing firm, to relaunch her namesake fashion line. Europe, Menlo Park, China), Where the person is located (e.g. Established in 1994, Aquatalia footwear adheres to the tradition of meticulous Italian shoemaking. Saadia Group, which recently bought department store Lord & Taylor, inked a deal to take 41,000 square feet at 275 Madison Avenue, brokers on the deal confirmed. 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. Though Cushman put its office space on the market prior to the pandemic, the market has since spiraled as more companies embrace the cost-savings associated with remote work. The Saadia Group is the latest among a small selection of operators giving a second chance to distressed retail operations. 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. Office will be used as an e-commerce showroom, Saadia Group, Lord & Taylor's new owner, will sublet its new headquarters from Cushman & Wakefield. 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. Asking rent was $49 per square foot, a source with knowledge of the deal said. 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. Saadia purchased New York & Co. and sister brand Fashion to Figure, a plus-size retailer, for $40 million. } Jack Saadia, principal and cofounder of Saadia Group, said his business has "continued to shift and grow, especially through the pandemic . Bridging the gap between style and function, Aquatalia sets a new standard in fine footwear and accessories. Savills announced that it represented the Saadia Group in a 40,738 s/f sublease at 275 Madison Avenue. 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. 917-952-8676. 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. Declaration of Jack Saadia (D oc. Saadia Group principal and co-founder Jack Saadia 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 less than 120 days. C&W put the 275 Madison office which it took over after it acquired Massey Knakal up for sublease before the coronavirus pandemic hit, and Saadia was able to nab the space at a 30 percent discount compared with direct spaces in the building, according to tenant broker Savills. MOUNT OLIVE TWP. (212) 210-0100, As Garment District landlords clamor for resi conversions, others say not so fast, Twitter to scale back Chelsea office space as Musk cuts costs. 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.. Established in 1994 and crafted in Italy . 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. 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. Saadia Group is acquiring Aquatalia with the vision to enter the luxury footwear market. 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.. Lord & Taylor was sold to Le Tote, a women's clothing rental company, for $100 million in 2019, but Le Tote went bankrupt inAugust 2020. The relaunch comes after Lord & Taylor shuttered all its stores in 2021, following its acquisition by The Saadia Group in 2019 in a bankruptcy auction. Contact a Saadia Group LLC broker for inquiries about any of their available listings for sale or lease. We look forward to building this brand and are enthusiastic to continue to add to our portfolio within the luxury market." Share this article In October, Saadia bought Lord & Taylor, one of the oldest department stores in the country, in a bankruptcy auction from Le Tote for $12 million, Bloomberg reported. } 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.