Sol Werdiger is a visionary entrepreneur who has built Outerstuff into a unique and important strategic partner to sports leagues and sports apparel companies alike, said Peter Wallace, a Senior Managing Director with Blackstones Private Equity business. Similar to what Fanatics has been doing in building and aggregating e-commerce rights, were looking to expand and protect the traditional retail channel. Portions of this site are directed only to persons in certain jurisdictions. 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. 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. 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. "In this business, you make money slowly. Under normal circumstances, Sol Werdiger, founder and CEO of Outerstuff the popular youth sports apparel manufacturer is a gregarious presence on Super Bowl weekends. For press inquiries, contact[emailprotected]. latest-news-headlines I am extremely excited about working with Blackstone as we begin the next chapter of our growth story.. Upgrade your subscription to get all the news you need: Adding SBJ weekly content will give you the comprehensive view of sports business with: Adding SBJ daily content will give you the comprehensive view of sports business with: You have 1 All Access article remaining this month. The vagaries of fusion technology or keeping up with Moores Law? He embodies what it means to be a true askin and is helping shape our world as one of the leading forces behind Agudath Israel of America. Whenever my grandfather was asked how he acquired so many buildings, he would simply say, I paid the most. If he believed in an area, he was not afraid to pay more than everyone else," Michael told FORBES. 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. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. All rights reserved.The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group. A rendering of the planned headquarters in downtown Detroit, produced before Chemical Bank's merger with TCF Bank was announced. 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. The company also produces items for the U.S. Olympic Committee and more than 200 colleges and universities, and Adidas youth apparel. All rights reserved. MEOR operates The host, Rabbi Ari Koretzky, is Executive Director of MEOR Subscribe. There are two parts of this business today, Werdiger said. By selecting the relevant option, you certify that it accurately reflects your residency. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. Today, licensed jackets are just 5 percent of Outerstuffs business, while youth apparel is more than 25 percent the size of the adult market. Have feedback for the show, or suggestions for future guests? Outerstuff started in 1983 as a manufacturer of childrens outerwear. Why do people leave their jobs? He also said other properties were considered but none met all of the bank's requirements for its move from Midland to Detroit. (212) 594-9700. www.outerstuff.com. You may opt-out by. Childs play. 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. More than two decades of archival stories, profiles, research and data. "As an operator, Elie faces all challenges head-on and takes his fiduciary responsibility very seriously," said Outerstuff LLC CEO Sol Werdiger, who has invested with Rieder. Outerstuff designs and produces childrens jerseys, t-shirts and other clothing items for the leading brands in American sports, including the NFL, MLB, NBA, NHL, MLS, US Olympic Committee, and more than 200 leading colleges and universities, as well as Adidas youth apparel. Outerstuff upgraded by S&P Global Ratings to CCC on deal with lenders, Banking Essentials Newsletter: 5th May Edition, Banking Essentials Newsletter: 19th April Edition, According to Market Intelligence, April 2023, Banking Essentials Newsletter: 5th April Edition. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. He reports that Outerstuff has "600,000 SKUs in our NFL business alone. Chairman Gary Torgow's five adult children Elie Torgow, Yoni Torgow, Rachel Torgow Krakauer, Moshe Torgow and Jacob Torgow are the other 50 percent owners of GPC Adams through an entity they own called Park Elizabeth Associates LLC, which is a member of GPC Adams, according to filings with the U.S. Securities and Exchange Commission. 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. March 11, 2021. Their three first cousins, led by Sols nephew Lloyd, control their own more modest and leveraged real estate empire through BLDG Management;FORBES estimates that branch of the family is worthat least $1.5 billion. Werdiger's business is likewise booming. in clinical psychology. 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. Rare insight into WNBA revenue and PLL adds Mike Levine to BOD. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. To view recent press releases,click here. Sullivan & Cromwell served as legal advisor to Outerstuff during the transaction. Visit Whether he's attending the latest super bowl, facilitating the siyum hashas in MetLife stadium, or dealing with his staff - he is always focused on making a kiddush Hashem. "He takes great. Daily updates aggregating the stories and spin from more than 600 outlets across the globe. CLAIM THIS BUSINESS. 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." 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). Solil Management, a portmanteau of Sol and Lillian, still doesnt have a company website featuring trophy properties like most investors use, but a bit of digging - through the lawsuits detailing the family feud and hundreds of land records - shows that Sols heirs own at least 400 New York City properties including high-end apartments on the Upper East Side, the block of land in Midtown Manhattan that includes the Olympic Tower and the Cartier Mansion, and the landmark Peninsula Hotel. "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. One is like renting billboards. That would allow Outerstuff the rights to make and sell sports apparel through these mass merchandise and big box stores. "I have no ownership of the Sterling Group. 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. (Photo courtesy of the Goldman family), This story appears in the July 26, 2016 issue of Forbes. 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 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. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. Photo Courtesy of the Goldman Family. Budweiser Sol Werdiger. Jane and Allans sons are being prepped to one day take over. 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. Outerstuff got its first league license in 1986 for MLB jackets, and then began to transform from an outerwear manufacturer to one exploiting the youth market. "What's important to keep in mind is that they need to be vigilant on this. That included the prized Chrysler Building, which they gave up in 1975. By. 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. Last year, Werdiger was chairman of its board of trustees and Torgow, a member of the board, served as event chairman for its annual event in New York City. The company's senior secured term loan was raised as well, to CCC, from SD. premier Jewish outreach and educational organization. To receive email alerts from Blackstone, sign up below. +1 (212) 390-2250[emailprotected]. He addedthe Chrysler Building in 1960. About Outerstuff Address: New York, New York Website: http://www.outerstuff.com/ Industries: Sporting Goods, Manufacturing Founded on: January 1st, 1983 Number of Employees: 501 - 1,000 "About. 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? Although Sol did not know the purpose of the meeting he agreed to meet with Mr. Joon. We do this through the commitment of our extraordinary people and flexible capital. There are also four seven-year renewal options at the end of the 22 1/2 years. 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. The main point is not to sell anything," Sol told FORBES in 1985, when his net worth was estimated at $450 million. However, she said, ongoing diligence is needed. Once New Yorks biggest landlord, Sol Goldmans legacy lives on. 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. He has formed life-long relationships with some of the world's biggest Rebbas and Gidolim. That was later challenged by her children, though after a five-year long legal battle, it ultimately stuck. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. "When we came together and became full-time here, we had a really good team and my kids over there. 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. The saga starts with Sol and Lillians tenuous marriage. Further information is available at www.blackstone.com. ABOUT THIS EPISODE Sol (Shloime) Weridger runs one of the most interesting companies in the Jewish world. 2023 Leaders Group. A young Sol Goldman, who would go on to build one of New York City's most valuable real estate [+] portfolios. 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. 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. Born to Holocaust survivors, Sol was raised to always push himself to grow. Shafer said he, not Torgow, was responsible for selecting the site where the new headquarters will be built. The sports apparel entrepreneur is a gifted raconteur known for his colorful Super Bowl stories. 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. Some of Outerstuffs collegiate rights also include adult togs. Learn from Jewish. Sol Werdiger was the Founder & CEO at Outerstuff. KEY RETAILERS: Sol also rarely sold. Ratings had downgraded Outerstuff in May 2020 to SD after it missed an interest and principal payment due March 31 on its term loan. At the time, the youth business was around a tenth the size of the adult licensed sports apparel market. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. CEO of Outerstuff. Seed, Series A, Private Equity), Whether an Organization is for profit or non-profit, General contact email for the organization, Leading designer and manufacturer of branded youth apparel, Edit Lists Featuring This Company Section, Misfits deal with clothing maker Outerstuff isnt just about its esports teams, Northeastern US Companies With Less Than $500M in Revenue (Top 10K), Northeastern US Manufacturing Companies (Top 10K), East Coast Companies With More Than 500 Employees (Top 10K), Northeastern US Companies With More Than 50 Employees (Top 10K). Several years ago, Allan stepped back his work day-to-day due to health issues. * Please fill out the form below in order to receive your shareable link. 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. By Rabbi Dovid Saks Jewish Heritage Connection, 601 Jefferson Avenue , @ the JCC of Scranton, Scranton, PA 18510. As an umbrella to all of this, the Werdiger Family Foundation was set up to direct charitable monies to various philanthropic organizations by Sol Werdiger. Corporate governance and real estate experts say the company appears to have followed rules for disclosure and vetting such transactions and the lease seems to be a fair deal. to one day take over the company with his cousin. and the titans of the sports apparel world, Sol creates a kiddush Switchboard:+1 (212) 583-5000. Or go downtown to the courtroom and dig through thousands of pages of legal documents detailing the bitter battle between his wife, Lillian, and their four children over Sols estate after his 1987 death. Try another search query or. Outerstuff collaborates closely with its league and corporate partners and is viewed as a trusted partner in their apparel business. With a Crains Detroit Subscription you get exclusive access, insights and experiences to help you succeed in business. 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. long way!! Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. We currently don't have any reviews for this employer. In June, it wouldn't specifically say why tax incentives were sought but noted that many of Detroit's largest development projects have public financing. Sorry, something went wrong with the copy but here is the link for you. Outerstuff LLC. The highest reported salary for an employee at Outerstuff Ltd. is currently $NaN / year, Outerstuff Ltd. provides a few pension benefits and perks. Blackstone is one of the worlds leading investment and advisory firms. and the heirs of banking scion Andrew Mellon. Maryland (www.meormd.org), a He has formed life-long relationships with some of the world's biggest Rebbas and Gidolim. For office-specific contact information, please visit our our offices page. Some are already famous, some not yet so. Timely, daily updates provide the latest developments and news relied upon by industry leaders. Gender Male. Through his interface with commissioners, franchise owners Chemical Bank's audit committee includes lead independent director Franklin Wheatlake, chairman of Reed City-based Utility Supply and Construction Co.; Dow Chemical Co. CEO James Fitterling; former General Motors Co. human resources chief Barbara Mahone; former Auto Wares Inc. executive Larry Stauffer; and Dow Chemical vice president Jeffrey Tate;. 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 . Industry Apparel & Fashion Revenue $2.3M Employees 25 Founded in 1983 Headquarters New York, NY Website www.outerstuff.com Organization Type Private Is This Your Company? Welcome to Jews You Should Know, introducing the broader community to interesting and inspiring Jewish men and women making a difference in our world. We have lots of information about Solomon: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Democrat. Outerstuff International Ltd. GPC Adams is an affiliate of Sterling Group, the Detroit-based real estate company that Gary Torgow started in the 1980s. Blackstone A court-ordered appraisal pegged the estate as being worth $760 million in 1991. Outerwear, including pricey jackets, was a big piece. companies in the Jewish world. 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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. You will be able to share this link with anyone and everyone, even on social media. 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. /marketintelligence/en/news-insights/latest-news-headlines/outerstuff-upgraded-by-s-p-global-ratings-to-ccc-on-deal-with-lenders-61648669 "We worked with the Federal Reserve to make sure they understood the relationship. The son of a Brooklyn grocer, Sol quit Brooklyn College to run his fathers shop in 1935, and started by buying up foreclosed properties at low prices in the 1950s. What is Solomon Werdiger's current address? content Gurney-Goldman, who is now working at Solil and will one day take over his father's position. swerdiger@verizon.net. Click below to sign in. 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 family statement provided to FORBES said Since that time, the family has resolved all outstanding disputes and all members are very close with one another.). Technology Sofia Gross Public policy manager at Snapchat. 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). He said the $35 per square foot is consistent with the market rate for new construction and that other critical terms, such as the bank's right to contest property taxes, are built into the lease. A year later, the legendary investor said "Every time I sell, I'm sorry.". Outerstuff has already signed two soccer pros to back Umbros relaunch: Mix Diskerud of the MLS NYCFC and the NWSL Washington Spirits Cheyna Williams. See the full leadership team at Craft. nationally on twenty campuses and in Manhattan; visit the national 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. Use our tool to get a personalized report on your market worth. It's an important job and a serious undertaking with great challenges and even greater rewards when things work out right. Within a few years, it was making licensed jackets as a supplier for Starter, a pioneer in the 1980s and 1990s licensing boom. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. After his death, his estranged wife Lillian, and later Lillian and her. Outerstuff has kids licenses across top U.S. leagues. Matthew Kassel. It is now owned and run by his children, Torgow told Crain's. What your skills are worth in the job market is constantly changing. All rights reserved. website at www.meor.org. He is also a deeply committed Jew, focused very much on the themes of integrity and Jewish values. Middle-born sisters Diane and Amy are also still active senior advisors. Why change when Sol's legendary framework has gotten them to their agile position today? Together his four children are worth at least $12.2 billion, or $3.05 billion apiece. 1987. in our world. Access to easy-to-read digital editions of weekly issues. (Photo courtesy of the Goldman family), portfolios. I lead Forbes coverage of food and agriculture. 49 print issues delivered to your home or office. Child's play. Click below to see everything we have to offer. He is also a deeply committed 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.
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