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. Jack Saadia, 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. 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. (Getty, RPW Group). Kbabieh also praised how simple the picking process became. In the past year, weve seen retailers like Century 21 and Lord & Taylor shut down only to announce plans to reopen months later. The investment firm bought the intellectual property rights to Lord & Taylor in a $12 million cash bid at a bankruptcy auction in 2020and acquired New York & Companyfor $66 million, with plans to continue operating them exclusively online. Bridging the gap between style and function, Aquatalia sets a new standard in fine footwear and accessories. MOUNT OLIVE TWP. As for the Lord & Taylor building, it has changed hands several times since the retailer moved out. 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. 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. 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. The new partnership promises . Saadia Group Acquires Visibility Across its Portfolio with NetSuite. Margarita Ricarte. NEW YORK, April 16, 2021 /PRNewswire/ --Today, The Saadia Group officially launched the iconic American brand, Lord & Taylor as a digital Collective Store. 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. If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. Saadia Group is acquiring Aquatalia with the vision to enter the luxury footwear market. Jack Allen, LLC: 105 W. 29th St., Apt. Choose the right Crunchbase solution for you Start Your Free Trial Average of 17 Customer Reviews. Saadia Group is in multi-category product manufacturing and retailing. We look forward to building this brand and are enthusiastic to continue to add to our portfolio within the luxury market." Share this article 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. Saadia Group, Lord & Taylor's new owner, has found a new office in Midtown. 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. We are leaders in multi-category Product Manufacturing, Wholesaling and Retailing. Established in 1994 and crafted in Italy . margin-bottom: 20px; Because SM's interest is equity, Saadia's claim that it controls the vote under Section 18-402's default standard falls apart, as it is SM (not Saadia) that has the far greater interest in the Company. 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. 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.. To that end, we evaluated the market and identified a plug-and-play opportunity at 275 Madison Avenue that allowed for immediate occupancy and minimal up-front capital expenditure costs., Brokerage Cresa Continues Florida Expansion With New Boca Raton Office. Established in 1994, Aquatalia footwear adheres to the tradition of meticulous Italian shoemaking. 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. Today's unveil is just the beginning.". 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". This dispute centers around the October 30, 2018 deposition of Jack Saadia. color:rgb(46,179,178); 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. Personal responsibilities included . 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 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. with product at New York & Company and a debut at Lord & Taylor," said Jack Saadia, principal and cofounder of The Saadia Group. The Digital Collective is a nimble way for the brand to continue existing with its rich, 195-year history. The funding supports Saadia Group's acquisition of RTW's e-commerce brands, New York & Company and Fashion to Figure, and their . To learn more about the brand, visit www.lordandtaylor.com, and look out for further updates on the official social channels. . 917-952-8676. If you would like to customise your choices, click 'Manage privacy settings'. YourSolemates. 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. Saadia Group said it is "the perfect label to begin their portfolio within the luxury fashion world". 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. : *****0133. JPMorgan to sublet office space as it ponders work-from-home, That empty feeling: Manhattan office availability at record-worst 15.5%, High Street, Daiwa bring resi to River Oaks, St. Charles revamp of torched resort takes center stage in local City Hall races, LIV plans massive resi project in Fort Worth, KBS deal to sell Union Bank Plaza to Joel Schreiber delayed for 9th time. The new, digital-only approach underscores the challenges department stores have faced . Jack Saadia is the Finance Manager, Principal, and Co-founder at Saadia Group LLC. CASE NO. A spokesperson for C&W declined to comment. Jack Saadia, Chief Executive Officer of Saadia Group, LLC, commented: "We are delighted to have successfully closed on the purchase of this business. As part of the deal, Saadia inherited Cushmans furniture and equipment. Their strategic investments in fashion brands utilizes their broad experience and leverages full complement of resources to grow and expand the business. Saadia Group, Lord & Taylors 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 Midtown office. MOUNT OLIVE TWP. 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. "We are deeply committed to continuing the brand's rich legacy in a progressive way. JUDGE: RAUL A. SAHAGUN #5. . We are a family operated organization, with a community-first mindset. padding-left: 10px!important; Saadia Group has agreed to acquire the assets of its first luxury fashion label, Aquatalia, from Global Brands Group in a $23 million cash deal. In a statement, co-founder and principal Jack Saadia said it marks "just the beginning" for the nearly 200-year-old department store. 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, Accessories, Home Textiles, Furniture and more. from 8 AM - 9 PM ET. We believe in the New York & Company. 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 historic centre of Odesa is part of a port city located on the Ukrainian shores of the Black Sea. The city was founded in 1794 by a strategic decision of the Empress Catherine II to build a warm-water port following the conclusion . Email this Business. (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. . New York, NY 10001-3011. Cushman inherited the space from Massey Knakal after acquiring the company in 2015. Its not a direct lease with the building owner, RPW Group: Cushman & Wakefield is subletting the 41,000-square-foot space to Saadia. The New York City based investment firm will leverage the contiguous space as the new . 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. RTW Retailwinds, Inc. (RTW or the Company) [OTC PINK:RTWIQ], an online specialty apparel retail platform for powerful celebrity and consumer brands, announced that it closed on the sale of its e-Commerce business and all related intellectual property, including its websites, www.nyandcompany.com, www.fashiontofigure.com and its rental subscription businesses at www.nyandcompanycloset.com and www.fashiontofigurecloset.com, together with certain other assets, to Saadia Group, LLC. Its former flagship store, built in 1914, is now a landmarked building in New York City. } 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. SAADIA LANCASTER - HOURLY. (650) 747-8331. 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. margin-top: 10px; 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.. Contact. SAADIA SQUARE LLC v. ALL-WAYS PACIFIC, LLC. 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. 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. 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. "We picked up people from the old company and from. 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. The space will be used as a showroom and for administrative staff. Catering to a diversified portfolio of consumer products across multiple categories. 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. 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. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Kbabieh credits Sellercloud with much of its expansion and online growth success. Certain hearsay statements in the Saadia Declaration were not admitted as evidence based on the Debtors' objections but most of the Declaration was allowed. 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 . "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. Retail brand leaders will gather at Commerceweek to discuss how to reimagine the customer journey. A spokesperson for C&W declined to comment. 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. "The future of retail is fast and agile, mirrored by our. Asking rent was $49 per square foot, a source with knowledge of the deal said. Read the latest edition of the Commercial Observer online! Contact. 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. All rights reserved. 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. This outcome is particularly satisfying given the current environment, where many retailers bankruptcy filings have resulted in full liquidations and minimal distributions due to COVID-19, Mr. Shapiro added. Company principle Jack Saadia has not said whether physical . Saadia purchased New York & Co. and sister brand Fashion to Figure, a plus-size retailer, for $40 million. Saadia Group is building a transformational company and digital platform that will change the retail and brand landscape for current and future generations. .article-native-ad strong { } of Savills represented Saadia in the lease, while C&W handled it in-house via. Office sublease space increased 47% in the past year, to nearly 19 million square feet, the data showed. Solemates is a revolutionary foldable flats company catering to the aching feet of every hard working woman! "The addition of Aquatalia to our growing family of brands strengthens our reach and the ability to serve additional consumers," said Saadia Group principal and co-founder Jack Saadia. Stay tuned for exclusive collaborations, fresh assortments, new launches across categories and a robust private label offering filling up these limitless digital aisles in the next few weeks. Crains New York Business is the trusted voice of the New York business communityconnecting businesses across the five boroughs by providing analysis and opinion on how to navigate New Yorks complex business and political landscape. 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. The platform will feature exclusive collaborations, new launches across categories and. Asking rent was $49 per square foot, a source with knowledge of the deal said. 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. 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. 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. Saadia Group is a consumer goods company that sells both on e-commerce and wholesale. Fort Monmouth redevelopment: New craft brewery from former Kane head brewer coming to fort commissary. Jack Saadia, principal and cofounder of Saadia Group, said his business has "continued to shift and grow, especially through the pandemic . 1/5. 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The funding, completed in less than 30 days, supports Saadia Group's acquisition of . Saadia Group, Lord & Taylors new owner, has found a new office in Midtown. Contact a Saadia Group LLC broker for inquiries about any of their available listings for sale or lease. in the wake of the coronavirus pandemic, which has started to drive down the prices on direct deals. 542) was offered as evidence by Saadia. from 8 AM - 9 PM ET. Media Contact:Brandon McDaniel [emailprotected], Cision Distribution 888-776-0942 This is an example of a sitewide notice - you can change or remove this text in the Customizer under "Store Notice" Dismiss. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. 646-795-4711. The Saadia Group is deeply committed to continue the rich legacy of the heritage brand in a modern, progressive way. Childrenswear, fashion accessories and footwear will join the mix in the second half of 2021. Sponsored Content: You Dont Need a CIO or an IT Guy! Join this Adweek event, July 1112, for insights on the modern consumer. C/O Saadia Group. Savills announced that it represented the Saadia Group in a 40,738 s/f sublease at 275 Madison Avenue.