Daily updates aggregating the stories and spin from more than 600 outlets across the globe. https://www.sportsbusinessjournal.com/Journal/Issues/2016/07/11/Marketing-and-Sponsorship/Company-Watch-Outerstuff.aspx. Episode 085 - The Outerstuff CEO: A Conversation with Sol Werdiger. Born to Holocaust survivors, Sol was raised to always push himself to grow closer to Hashem. "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. There is also a $10.49 million property tax abatement, according to an MSF briefing memo at the time. sportswear - jerseys, youth-wear and more - for most of the major swerdiger@verizon.net. . Outerstuff LLC - New York , NY - Business Data 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. (Annual sales and employees) N.Y. developer, Torgow friend co-developing TCF Bank's downtown Outerstuff has kids licenses across top U.S. leagues. values. He did not elaborate on what other properties were considered or what its requirements were. You will be able to share this link with anyone and everyone, even on social media. We're very proud of the governance and the governance process that we went through in identifying this property, the design of it and now the construction of it for the city of Detroit.". He is also a deeply committed Jew, focused very much on the themes of integrity and Jewish values. CB Rank (Person) 9,352. 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. 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. Working At Outerstuff: Employee Reviews and Culture He and his partner Alex DiLorenzo borrowed heavily to build up their portfolio, only to see it all come falling down in the 1973-1974 real estate crash. The vagaries of fusion technology or keeping up with Moores Law? "In this business, you make money slowly. /marketintelligence/en/news-insights/latest-news-headlines/outerstuff-upgraded-by-s-p-global-ratings-to-ccc-on-deal-with-lenders-61648669 Ratings had downgraded Outerstuff in May 2020 to SD after it missed an interest and principal payment due March 31 on its term loan. 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. Youngest daughter Jane, who oversees Solil's daily operations, is the only female billionaire running a real estate portfolio. Werdiger, an Orthodox Jew and CEO of Outerstuff, received a phone call from Mr. Oh Joon, asking to meet him for lunch at a kosher restaurant in Manhattan. As part of the October agreement with lenders, Outerstuff paid principal and interest payments missed in March, June and September. 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. Sol Werdiger - Crunchbase Person Profile SBJ I Factor presented by Allied Sports features an interview with Navigate founder A.J. Found 13 colleagues at Outerstuff Ltd. 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." The sports apparel entrepreneur is a gifted raconteur known for his colorful Super Bowl stories. Rare insight into WNBA revenue and PLL adds Mike Levine to BOD. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. 2023 Leaders Group. 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. The highest reported salary for an employee at Outerstuff Ltd. is currently $NaN / year, Outerstuff Ltd. provides a few pension benefits and perks. Some are already famous, some not yet so. When they met, Mr. Joon told him the following, "I have always heard negative stereotypes about Jews . Meet the dynamic, inspiring and successful executive mentors that want to enable you to live your best professional life possible. To receive email alerts from Blackstone, sign up below. Blackstone invests in sports apparel company Outerstuff 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. After being separated, Lillian filed for divorce in 1983. "When we came together and became full-time here, we had a really good team and my kids over there. 1987. The latest personnel hires and promotions, plus exclusive ratings and research from the sports industry. 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." Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. Sol Werdiger was the Founder & CEO at Outerstuff. "We worked with the Federal Reserve to make sure they understood the relationship. "It looks like they went through the property analysis and proper steps.". 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. For office-specific contact information, please visitour offices page. 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. Average Outerstuff Ltd. Salary | PayScale Once Sol was fully on his own, he decided to eschew debt; he paid all cash for most of the land he bought. CEO of Outerstuff. "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. They have complete ownership of it. But each is That is still true today: Solil currently has debt-to-equity estimated at an unusually low 3%. That included the prized Chrysler Building, which they gave up in 1975. 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. The host, Rabbi Ari Koretzky, is Executive Director of MEOR Childs play. 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. 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. 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. Individual Investors & Financial Advisors. Photo Courtesy of the Goldman Family. The Audit Committee of the Board [of which (Gary) Torgow is not a member] also approved this lease agreement.". Sol Werdiger - Jewish Insider Meaningful People: Sol Werdiger on Apple Podcasts Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. Expansion helping Outerstuff to grow into adult market Outerstuff CEO and key executive team | Craft.co To view recent press releases,click here. "Our partnership with Blackstone gives us the financial resources and expertise we need to realize that vision. "He knew in the long run he would own something with much greater value than what he paid for it. 2023 Leaders Group. Active 2005 1 Chief Executive Officer Excel Known Addresses for Sol Werdiger. I divested myself" in 2009, Torgow said. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. Outerstuff will sell Umbro-logoed mens, womens and youth apparel beginning in January. 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. 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. The main point is not to sell anything," Sol told FORBES in 1985, when his net worth was estimated at $450 million. Mr Sol Werdiger (CEO of Outerstuff and community activist - Facebook Outerstuff | LinkedIn Congress Susan Wild Congresswoman from Pennsylvania. Solomon has many family members and associates who include Rony Majer, Michael Roscetti, David Cooperstock, Casey Majer and Rene Majer. Barnett is partnered with Solil to build a 52-story, 710,000 square foot residential building in Hell's Kitchen. A court-ordered appraisal pegged the estate as being worth $760 million in 1991. long way!! 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. 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. Please visit www.JewsYouShouldKnow.com, follow us on Twitter 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. The Solil portfolio has grown largely thanks to Jane, 60, and the only brother, Allan, 73, who together took over the business leadership when Sol died and who both serve as co-chairs. Although Sol did not know the purpose of the meeting he agreed to meet with Mr. Joon. Amy, 62, had worked at the office as well, before earning a P.h.D. He embodies . Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. They are all passionate about Jewish wisdom and enabling you to achieve your goals. CLAIM THIS BUSINESS. "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. A small monthly contribution goes a OUTERSTUFF Revenue, Growth & Competitor Profile - IncFact.com Other executives include Laura Peticca, Human Resource Manager; Bob Saunders, Vicepresident and 1 others. Photo Courtesy of the Goldman Family. New York City Olami Professional Circles - Olami The Company operates via exclusive contracts with the leagues to produce their branded youth apparel, which it sells through specialty sporting goods stores, and leading general retailers. The long legal battle became the largest trust case in New Yorks history. Find your market worth with a report tailored to you, No results found. Blackstone : Outerstuff, Ltd. Announces Blackstone Equity Investment Outerstuff International Ltd.