MIRA INFORM REPORT
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Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SAMUEL AARON, INC. |
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Registered Office : |
Corporation Trust Center 1209 Orange Street, Wilmington, New Castle,
De 19801 |
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Country : |
United States |
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Date of Incorporation : |
04.03.1985 |
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Com. Reg. No.: |
2056141 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewelry Manufacturing |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Samuel Aaron NY |
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Address in the order: |
31-00 47th Avenue Long Island City NY 11101 United States |
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Legal Name: |
SAMUEL AARON, INC. |
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Trade Name: |
Samuel Aaron International |
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Legal Address |
CORPORATION TRUST CENTER 1209 ORANGE STREET, WILMINGTON, NEW CASTLE,
DE 19801, USA. (Registered Agent\'s address) |
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Operative Address |
3100 47TH AVE FL 4, Long Island City, New York 11101, USA.
(headquarters) |
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Telephone: |
+1 (718) 392-5454 |
Registration Number : |
2056141 |
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Fax: |
+1 (718) 786-2748 |
Legal Form: |
Corporation for Profit |
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Email: |
N.A. |
Registered in: |
DELAWARE |
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Website: |
Date Created: |
1950 |
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Manager: |
ROBERT J WUESTE, CHAIRMAN OF THE BOARD |
Date Incorporated: |
March 04, 1985 |
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Staff: |
325 |
Stock: |
NA |
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SIC Code : |
3911 |
Value: |
NA |
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Activity: |
Jewelry manufacturing |
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BANKS
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Name of the Bank |
MERCHANTS BANK |
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Name of the Bank |
CITIBANK |
BUSINESS
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HISTORY |
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The company was created in 1950. It is the founding business unit of the Aaron Group. |
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PRINCIPAL ACTIVITY |
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The subject is engaged in the jewelry manufacturing. |
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Products/Services description: |
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The Aaron Group focuses on eight core product categories in the fine
jewelry market. Diamond Bridal Genuine and Semi-Precious Gemstone Silver Men's Hispanic Religious Loose Diamonds Branded & Private Label Collections |
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Sales are: |
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Wholesale |
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Brands: |
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Past, Present, Future Brand at Zales. |
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Clients: |
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Department Stores - Macy East & West, JCPenney, Kohl's, Belk, and
Sears. Mall Jewelers -Zales, Kay, and Helzberg. Discount Stores - Kmart, Walmart. Warehouse Clubs - Sam's Club and BJ's. TV - Major US shopping networks including QVC, Jewelry TV, and HSN. Dot Coms - Major retailers' dot com wings, i.e. Walmart.com,
Kmart.com, and Kohls.com, as well as internet-only retailers such as Amazon. International: Discount Stores - Carrefour,
etc. Mall Jeweler -Ernest Jones and H. Samuel. TV - Shopping channels in Japan , Germany , Australia , France and the
UK. |
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Operations area: |
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National, International, Local |
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The company export to Europe and Asia |
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The subject employs 325 employee(s) |
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PAYMENTS |
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made on a 60 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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3100 47TH AVE FL 4, Long Island City, New York 11101, USA. |
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Comments on location: |
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The company is incorporated in Delaware for tax purposes. However, it is headquartered in New York. |
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Branches: |
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The company has facilities in Thailand, India, Costa Rica and China. |
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Business Overview: |
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Jewelry sales depend partly on consumer income. Small jewelers can
effectively compete with large chains because price isn't the main factor
determining sales. Profitability depends on merchandising and effective
marketing. Jewelry is sold not only by specialized jewelry retailers, but
also by department stores and mass merchants. Because regular gross margins
are very high, often 50 percent, mass merchants have been able to cut prices
and take market share. Wal-Mart is the largest jewelry retailer in the US. |
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Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The company operates as a subsidiary of AARON GROUP, LLC. AARON GROUP, LLC 3100 47TH AVE STE 4 Long Island City, New York 11101 USA Phone: (718) 392-5454 www.samuelaaron.com |
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Management: |
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Robert J Wueste, Chairman Robert Kempler, President Richard Katz, Chief Financial Officer Ray Goddard, Director, Data Processing Vincent Vialetta, Dir Of Oprs Tom Crow, Director |
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Related Companies: |
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RB (Robert Baum) Thai Link Diamond Dimensions RBI (Rene Bargueiras Inc.) Note: It has not been possible to verify whether those are actually
independently incorporated companies. |
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Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the operator of the company who refused to
provide us any financial data without knowing the name of the inquiring
party. |
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However our financial sources could provide us with the following data
(estimates): |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
23,150,000 |
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Operating Income |
343,000 |
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Net Income |
274,000 |
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Net worth |
4,000,000 |
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Bank liabilities |
480,000 |
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The cash flow is |
normal |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
22,800,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of New York. There are no legal filings listed with the
District Court. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom United States citizens and permanent residents are prohibited from doing
business. ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the United States of America. The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a correct credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final Opinion |
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This is a medium sized US company, with
300 employees and 60 years of experience in the market. No adverse record has been found. The profitability is correct and the
payments are regular. Moreover, the indebtedness is controlled
and the revenue keeps growing. A credit line may be considered. |
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SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Position |
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Operator of the company |
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Comments |
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The person contacted refused to provide us any information on grounds
of confidentiality. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.05 |
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UK Pound |
1 |
Rs.71.92 |
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Euro |
1 |
Rs.64.37 |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.