Kagan Trim Center Building Sold to Peter Koral
Peter Koral, co-founder of 7 For All Mankind jeans, is busy ramping up his new blue-jeans company.
He closed a deal last month to purchase a 50,000-square-foot building in the industrial city of Vernon, Calif., for $4.7 million.
The building was owned by Kagan Trim Center, which used to be located in Los Angeles until the company constructed its new headquarters in 1999 and moved in.
Jed Kagan, principal of the company, said he hadn’t intended to sell the 13-year-old structure but later changed his mind. “Peter Koral drove past my property at 5524 Alcoa Ave., walked in, and said, ‘I want to buy your building,’” Kagan said.
Kagan initially told him no. He didn’t want to move the 50,000 to 65,000 various pieces of trim, lace, braids, sequins, rhinestones and collars sitting on the shelves of his warehouse-like building. But after talking to his accountant and finding out that Koral was planning to pay cash, he changed his mind.
Koral and his eldest son, David Koral, along with former 7 For All Mankind executive Rick Crane, launched this summer a new line of women’s premium jeans, called Koral Los Angeles.
For years, Peter Koral had a company in Vernon called L’Koral Industries, which manufactured mostly moderate clothing. In 2000, he co-founded 7 For All Mankind with Michael Glasser and Jerome Dahan. The company was sold in 2007 to VF Corp. for $775 million.
Kagan Trim Center is now located near downtown Los Angeles at 3957 S. Hill St., sharing a building with Zabin Industries, which does apparel labels and packaging.
—D.B.
