MIRA
INFORM REPORT
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Report Date : |
15th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
DE GRISOGONO SA |
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Registered Office : |
Route de Saint-Julien 176 1228 Plan-les-Ouates/GE Switzerland |
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Country : |
Switzerland |
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Date of Incorporation : |
12-12-1995 |
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Legal Form : |
Joint stock company |
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Line of Business : |
The company is involved in the conception,
realization and sale of jewellery items and watches, watch articles and art
objects in the upper price range. |
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RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Detail
assessment: |
Payments: |
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The payments of current liabilities are
made regularly on time. The business conduct is considered excellent |
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Individual
credit limit*: |
EUR 500.000.-- |
Name
De Grisogono SA
Line of Business
Commerce de bijoux et de montres
Legal domicile
Route de Saint-Julien 176
1228 Plan-les-Ouates/GE
Switzerland
Telephone: 022
8178100
Fax: 022
8178188
Homepage: http://www.degrisogono.com
E-Mail: info@degrisogono.com
CREDIT ADVICE
Requested credit: Maximum
credit
Credit opinion:
On the basis of the
financial strength of this company, credit can be extended to high levels.
This credit advice is based on information
available at the time of conducting the research, being the above indicated
date.
All amounts in this report are given in
Swiss
Francs (CHF) unless otherwise stated.
GENERAL COMPANY DATA
OFFICIAL DATA:
Legal form: Joint stock company
Registration: 12-12-1995
First Publication: 20-12-1995
Last Publication: 16-12-2004
History:
This joint stock company resumed the
activities of the former limited liability company "De Grisogono
SARL" at the same address, which had been registered in the Trade Register
from 16 September, 1993 until 15 December, 1995, the date the company was
dissolved.
Share capital: 26.000.000
Paid up: 26.000.000
Divided into: 260.000
Registered shares of 100
History: 12-10-2004 26.000.000 Capital increase
15-08-2002
18.500.000 Capital increase
27-09-2000
11.500.000 Capital increase
31-07-1998
1.000.000 Capital increase
100.000 Capital by incorporation
Company Management: Fawaz Gruosi
Registered domicile 26-10-2001, 1228 Plan-les-Ouates/GE
Previous, 1200 Geneve/GE
ESTABLISHMENT DETAILS
Retail shop: Rue du
Rhone 27, 1204 Geneve
Telephone: 022 3171082
ACTIVITY:
Line of business: Trade
in jewellery
Sector: Retail
Activity:
The company is involved in the conception,
realization and sale of jewellery items and watches, watch articles and art
objects in the upper price range.
The products are manufactured by
subcontractors.
Principal products are "The Black
Diamond" and "Watch The Number One Instrument".
In addition, De Grisogono SA designed and
realized the cigar "FOR WOMEN ONLY".
Since 29 October 2001 the company exploits
a boutique of 400 m2 at the rue du Rhone 27 in Geneva.
Further boutiques are being operated in
St. Moritz, Gstaad, Moscow, Paris, New-York, Kuweit and Porto Cervo.
In addition the company has resellers,
some of some franchisees, in several countries.
EMPLOYEES:
Number of employees: 100
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: Position per 20-05-2003.
Report from 20-05-2003, in 1211 Geneve 1.
2001
2002 2003
No.
Amount No.
Amount No. Amount
Betreibungen None 0 1 220 None 0
Report from 20-06-2001, in 1200 Geneve.
1999
2000 2001
No.
Amount No.
Amount No. Amount
Betreibungen None 0 1 21.077
None 0
Rechtsvorschl. 1 21.077
A current check of the legal actions
requires a document of justification with a legitimate signature.
The payments of current liabilities are
made regularly on time. The business conduct is considered excellent
FINANCIAL DATA:
Financial position: The financial affairs are considered good
and in order.
31.12.2001
31.12.2000 31.12.1999 31.12.1998
Sales 104'000.0 65'000.0 40'000.0 24'000.0
The annual turnover is estimated at CHF
120 million.
Banker(-s): UBS Ltd,
1200 Geneve
Cantonal Bank of Geneva (BCG), 1200 Geneve
Auditors: Ernst
& Young SA, Petit-Lancy
Premises: The
premises at the above mentioned address are rented.
The company invested CHF 12 million at the
manufacturing site in Plan-les-Ouates.
Fiscal taxation: No information
is available due to the local tax authority regulation.
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Shareholder(s):
Chopard holding SA, Geneve (49.0%).
Fawaz Gruosi (49.0%).
Direct Investments:
de Grisogono Italie, Rome, Italy/IT.
de Grisogono UK, Londres, United
Kingdom/GB.
BOARD OF DIRECTORS:
Fawaz Gruosi, from Italy, in
Geneve/GE/Switzerland,
President, collective signature.
Benedict Fontanet, from Thonex,
Chene-Bougeries,
in Geneve/GE/Switzerland,
Vice President, collective signature.
Karl-Friedrich Scheufele, from Prangins,
in
Prangins/VD/Switzerland,
Member, collective signature.
Karin Scheufele, from Germany, in
Prangins/VD/Switzerland,
Member, collective signature.
Francois Tissot, from Versoix, in
Geneve/GE/Switzerland,
Member, collective signature.
PERSONNEL INFORMATION:
Fawaz Gruosi was born in Damsco on 8
August 1952. He is of Italian nationality and holder of a residence permit. He
has been divorced twice and is today married to Caroline nee Scheufele, born on
14 December 1961.
The couple lives in 1197 Prangins, at the
ch. de Trembley 30, where it is proprietor of real estate of a fiscal value of
CHF 1.7 million. In addition the couple is also proprietor of a second
residence in 3782
Lauenen bei Gstaad.
The couple has been taxed as follows:
2001/2002
Revenue CHF 7'173'800.--
Net property CHF 80'718'000.--
His wife is a board member of the
following companies:
- Chopard Boutiques SA, Geneva
- Chopard Holding SA, Geneva
- Chopard International SA, Prangins
- K & K Promotions SA, Meyrin
- Le petit-fils de L.U. Chopard & Cie SA,
Meyrin
- Tresor-Immo SA, Prangins
In addition she is also partner and
managing director with collective signature of the following companies:
- Chopard Boutique Gstaad GmbH, Saanen
- Chopard Boutique St. Moritz GmbH, St.
Moritz
- Chopard Boutique Zuerich GmbH, Zurich
The couple is well introduced in
international jet set circles.
Benedict Fontanet, born in 1960, is a
lawyer by profession and exploits a law office at the rue du Rhone 84 in
Geneva.
He features on the Boards of numerous
other companies.
Karin Scheufele was born on 26 December
1938. She is married to Karl Scheufele, born on 13 March 1938.
Karin and Karl Scheufele are the parents
of Karl-Friedrich Scheufele and of Karoline and live in Prangins.
Karl-Friedrich Scheufele, born on 5
February 1958, is Caroline Gruosi-Scheufele's brother.
The Scheufele family exploits a jewel
factory in Pforzheim/Germany under the designation ESZEHA. In 1963, the latter
acquired the Swiss-based company CHOPARD, which employs approximately 1200
people and posts annual sales of around CHF 550 million.
At the close of 2002, the periodical
Bilanz estimated the Scheufele family's fortune between CHF 1 and 1.5 billion.
The family members are board members and
shareholders of various companies of the Chopard Group.
Francois Tissot is director of the company
Le petit-fils de L-U. Chopard & Cie SA in Meyrin.
FURTHER MANDATES:
Fawaz Gruosi:
- Chopard Boutiques SA, Geneve
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |