MIRA INFORM REPORT

Report Date :

18.05.2011

IDENTIFICATION DETAILS

Name :	LL BEAN INC

Registered Office :	1 Casco St. Freeport, ME 04333

Country :	United States

Date of Incorporation :	27.11.1934

Legal Form :	Corporation for Profit

Line of Business :	Outdoor Apparel Company

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	EUR 2,600,000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Exists

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Bottom of Form

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	LL Bean Inc
Address in the order:	1 Casco ST Freport Maine 04333
Comments on data supplied:	The company's correct address is listed below.
Legal Name:	LL BEAN INC

Legal Address	1 CASCO ST. FREEPORT, ME 04333, USA

Telephone:	+ 1 (207) 552-3028	ID :	19340021 D
Fax:	+ 1 (207) 552-3080	Legal Form:	Corporation for Profit
Email:	info@llbean.com	Registered in:	Maine
Website:	http://www.llbean.com	Date Created:	1912
Manager:	Mr. Christopher J. McCormick , President	Date Incorporated:	November 27, 1934
Staff:	4,000 employees	Stock:	NA
		Value:	NA
Activity:	Outdoor apparel company

BANKS

Name of the Bank

US BANCORP

BUSINESS

HISTORY
	The company was created in 1912.
PRINCIPAL ACTIVITY
	Outdoor apparel company
Products/Services description:
	L.L. Bean, Inc. provides apparel, reliable outdoor equipment, and advisory services. It offers shirts, pants and shorts, footwear, outerwear, sweaters, sleepwear and underwear, blazers and jackets, skirts and dresses, and accessories for men, women, and kids. The company also provides camping and hiking, kayaking and canoeing, fishing, hunting, optics and sunglasses, fitness gear and apparel, winter sports, book packs, and cycling products, as well as car racks, mats, and gears. In addition, it offers furniture, bedding and bath, storage and organization, accessories and games, luggage and duffles, tote bags, shoulder bags and briefcases, and travel accessories. Further, the company provides indoor and outdoor furniture and accessories, and pet supplies. It also offers its products online. L.L. Bean, Inc. was founded in 1912 and is headquartered in Freeport, Maine. The company has retail stores and outlets in Illinois, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Virginia, Maine, and Delaware, as well as in Japan.
Sales are:
	Wholesale, Retail
Brands:
	L.L. Bean Hunting and Fishing. L.L. Bean Bike, Boat & Ski.
Operations area:
	National, International
The company export to Europe and Asia
Competitors:
	Eddie Bauer Holdings, Inc.; Lands' End, Inc.; Bass Pro Shops, Inc.; Cabela's Incorporated; Recreational Equipment, Inc.; The Timberland Company; The Orvis Company Inc.; Columbia Sportswear Company
The subject employs 4,000 employee(s)
PAYMENTS
	made on a 50 days basis - monitored over the last 12 months
LOCATION
Headquarters
	1 CASCO ST. FREEPORT, ME 04033, USA
Surface area:
	160,000-square-foot (consolidated).
The property is:
	Owned
Comments on location:
	The company has another location in Freeport at: 1 CASCO ST. FREEPORT, ME 04033, USA
Branches:
	Since 2000, a handful of additional full-price retail stores have opened up in Virginia, Maryland, New Jersey, New Hampshire, and New York. NATHAN NYE STREET, Freeport, Maine 04033, USA 31 GUSABEL AVE, Nashua, New Hampshire 03063, USA 10300 LTTLE PATUXENT PKWY, Columbia, Maryland 21044, USA.
Business Overview:
	The US apparel manufacturing industry includes about 10,000 companies that have combined annual revenue of about $20 billion. Large companies include VF Corporation, Levi Strauss, and Warnaco. The industry is fragmented: the 50 largest companies generate less than 40 percent of revenue. The industry includes knitting mills, but most apparel is cut and sewn. Demand is largely determined by consumer tastes and the comparative costs of manufacture in the US and overseas. The profitability of individual companies depends on efficient operations and the ability to secure contracts with clothing marketers. Small companies can compete effectively with large ones by specializing in a particular type of apparel manufacture. There are few economies of scale in manufacture, because of the high labor content of most apparel. The industry is labor-intensive: average annual revenue per production worker is about $155,000

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	The company's shareholder was not confirmed with the staff.
Management:
	Mr. Christopher J. McCormick Chief Executive Officer and President Mr. Mark Fasold Chief Financial Officer Mr. Edward R. Howell Chief Retail Officer and Member of the Office of President Age: 61 Mr. Ken Kacere Senior Vice President of Retail and General Manager of Retail Mr. Daniel Love Vice President of Finance

Financials - COMMERCIAL TRENDS AND FORECAST

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

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

Currency	DATE
USD	2008
Turnover	895,600,000
Operating Income	44,700,000
Net Income	36,700,000
Net worth	159,000,000
Bank liabilities	40,000,000
The cash flow is	GOOD

Comments on the financial data:

L.L. Bean, Inc. Reports Sales Results for the Full Fiscal Year Ended February 27, 2011
03/14/2011
L.L. Bean, Inc. reported sales results for the full fiscal year ended February 27, 2011. For the period, the company reported annual net sales of $1.44 billion, a 5.7% increase over 2009.

L.L. Bean, Inc. Reports Sales Results for the Year 2010
03/14/2011
L.L. Bean, Inc. reported sales results for the year 2010. After two consecutive years of declines, the company finished 2010 with a 5.7% increase in sales, indicating skittish customers are feeling better about spending. Revenue for the company came in at $1.44 billion for the fiscal year that ended February 27, 2011. The year before, revenue was $1.37 billion.

Legal Fillings

There are 590 UCC files listed with the Secretary of State of Maine.

Filing Number: 150078207

Filing Date: 02-04-2002

Secured Party: FIDELITY FEDERAL SAVINGS BANK

Filing Number: 2020001500782

Filing Date: 02-04-2002

Secured Party: FIDELITY FEDERAL SAVINGS BANK

Filing Number: 1446918

Filing Date: 11-30-2001

Secured Party: GATX TECHNOLOGY SERVICES CORPORATION

Filing Number: 1435901

Filing Date: 10-04-2001

Secured Party: FORSYTHE/MCARTHUR ASSOCIATES, INC

Filing Number: 2010001403716

Filing Date: 03-21-2001

Secured Party: CIT COMMUNICATIONS FINANCE CORPORATION

There are no major legal filings listed with the District Court of Maine.

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, which employs 4,000 people and has 98 years of experience in the market.

By 2012, when L.L. Bean would celebrate its centenary, the company hoped to have as many as three dozen additional full-price retail outlets open in the United States.

The company’s financial has improved in 2010 and the perspective are encouraging.

A credit line may be considered for EUR 2,600,000

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	YES
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	GOOD

APPENDIX

Position
	Receptionist
Comments
	He confirmed the locations.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.07
UK Pound	1	Rs.63.57
Euro	1	Rs.72.97

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%)

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