MIRA INFORM REPORT

 

 

Report Date :           

14.05.2011

 

IDENTIFICATION DETAILS

 

Name :

MEE DIRECT LLC (MARC ECKO ENTERPRISES)

 

 

 

 

Formerly Known As :

ECKO DIRECT, LLC

 

 

 

 

Registered Office :

3411 Silverside Road Rodney Building #104, Wilmington New Castle De 19810

 

 

 

 

Country :

United States 

 

 

 

 

Date of Incorporation :

25.08.2004

 

 

 

 

Legal Form :

Corporation for Profit

 

 

 

 

Line of Business :

Clothing manufacturing and distribution.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 2,000,000

Status :

Satisfactory

Payment Behaviour :

Regular

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Mee Direct LLC

Address in the order:

475 10th Avenue 9th Floor New York NY 10018

Comments on data supplied:

The address provided is that of a location the company may be renting.

 

The headquarters address of the company is listed below.

Legal Name:

MEE DIRECT LLC (Marc Ecko Enterprises)

Trade Name:

Marc Ecko Enterprises

Legal Address

3411 SILVERSIDE ROAD RODNEY BUILDING #104

WILMINGTON NEW CASTLE DE 19810 (incorporators)

Operative Address

40 W 23RD ST FL 3 New York, New York 10010

USA (headquarters)

Telephone:

(917) 262-1002

ID :

3846769

Fax:

(917) 262-1002

Legal Form:

Corporation for Profit

Email:

international@ecko.com

Registered in:

Delaware

Website:

http://www.marceckoenterprises.com

Date Created:

1993

Manager:

Mark Ecko, CEO

Date Incorporated:

August 25th, 2004

Staff:

1,300 (at group level)

Stock:

NA

 

 

Value:

NA

Activity:

Clothing manufacturing and distribution.

 

 

BANKS

 

Name of the Bank

Citi Bank

Name of the Bank

JP Morgan Chase

 

BUSINESS

 

HISTORY

 

The company was incorporated in 1993 under the name ECKO DIRECT, LLC and then changed its name to MEE DIRECT LLC on May 26th 2010.

 

The company has presence worldwide through its subsidiaries.

PRINCIPAL ACTIVITY

 

The company through its subsidiary engages in the fashion apparel manufacture.

Products/Services description:

 

The company manufactures and distributes the following products:

 

Tshits

Tank tops

Hoodies

Jackets

denims

Skirts

Shorts

Sneakers

Hand bags

Dresses

Fragrances

Watches

 

Among many others

Sales are:

 

Retail

Brands:

 

*ecko unltd

Marc Ecko Cut & Sew

Zoo York

Complex Media

ecko red juniors apparel

Avirex

Marc Ecko Entertainment

 

Clients:

 

Retailers

Departamental Stores

 

Operations area:

 

National, International

The company imports from Europe Asia and South America

The company export to Worldwide

Competitors:

 

DC Shoes

Adidas

Volcom

The subject employs 1,300 employee(s)

Comments on staff:

 

The number of employees stated includes all company operations worldwide.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The legal address of the company is that of the registrant officer: 3411 Silverside Road Rodney Building #104, Wilmington New Castle DE 19810, USA

 

However, it is headquartered at: 40 W 23RD ST FL 3 New York, New York 10010 USA

Surface area:

 

275,000 square feet.

The property is:

 

Owned

Comments on location:

 

The company is incorporated in Delaware for tax purposes, however, it is headquartered in New York.

Branches:

 

The company has several branches nationwide.



Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This company is privately held by Mr. MARK ECKO.

Management:

 

Mark Ecko, Ceo

Jeff Strumeier, Manager

Julie Cooper, Manager

 

Related Companies:

 

Zoo York LLC

Ecko.Complex LLC

Ecko Direct, LLC

Complex Media LLC

 

Among many others.

 



Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

We have contacted the company and left a message which kept unanswered.

However our financial sources could provide us with the following data (estimates):

 

Reported sales for the year 2007 were over $1,500,000,000

 

Currency

DATE

USD

2009

Turnover

1,640,000,000

Operating Income

85,000,000

Net Income

70,000,000

Net worth

500,000,000

Bank liabilities

100,000,000

The cash flow is

Normal

 

 

Legal Fillings

 There are 3 UCC files listed with the Secretary of State of Delaware.

 

There are legal filings listed with the District Court, including:

 

12/22/10

COMPLAINT FOR PATENT INFRINGEMENT

 

Plaintiff GEOTAG, INC. files this Complaint against MEE DIRECT LLC D/B/A MARC ECKO ENTERPRISES.

 

For information:

 

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

 

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.

 Final Opinion

 

This is a big sized American company. It employs 1,300 people and has been in business for 17 years.

 

A credit line may be considered for USD 2,000,000

 



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 



APPENDIX

 

Comments

 

We have contacted the company several times and left a message which kept unanswered.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.