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Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
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Name : |
COACH MANUFACTURING LTD. |
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Registered Office : |
15/F., C-Bons International Centre, 108 Wai Yip Street, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
08.04.2004 |
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Com. Reg. No.: |
34456510 |
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Legal Form : |
Private Limited Company. |
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line of business
: |
Importer, Exporter and Retailer of Footwear, jewellery, travel bags,
watches, sunwear, fragrance, etc. |
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No. of Employees : |
200. (Including
retailing shops) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
COACH
MANUFACTURING LTD.
15/F., C-Bons International Centre, 108 Wai Yip Street, Kowloon,
Hong Kong.
PHONE: 2760 8162
FAX: 2760 8163
Managing Director: Mr. Leonard
Todd Kahn
Incorporated on: 8th April, 2004.
Organization: Private Limited Company.
Capital: Nominal: HK$100,000.00
Issued: HK$50,000.00
Business Category: Importer,
Exporter and Retailer.
Group Net Sales: US$4,763,180,000 (Year ended 30-06-2012)
Employees: 200. (Including retailing shops)
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Satisfactory.
COACH MANUFACTURING
LTD.
Registered Head
Office:-
15/F., C-Bons International Centre, 108 Wai Yip Street, Kowloon,
Hong Kong.
Holding Company:-
Coach International Holdings Inc., Cayman Islands.
Ultimate Holding
Company:-
Coach Inc., USA.
Associated
Companies:-
504-514 West 34th Street Corporation, USA.
516 West 34th Street LLC, USA.
Coach (Gibraltar) Ltd., Gibraltar.
Coach Consulting Dongguan Co. Ltd., China.
Coach France S.A.S., France.
Coach Hong Kong Ltd., Hong Kong.
Coach International Holdings, S.a.r.l., Luxembourg.
Coach International Ltd., Hong Kong.
Coach Italy Services S.r.l., Italy.
Coach Japan Investments, LLC, USA.
Coach Japan LLC, Japan.
Coach Korea Ltd., Korea.
Coach Leatherware (Thailand) Ltd., Thailand.
Coach Leatherware India Private Ltd., India.
Coach Malaysia SDN. BHD., Malaysia.
Coach Management (Shanghai) Co. Ltd., China.
Coach Netherlands B.V., Netherlands.
Coach Services, Inc., USA.
Coach Shanghai Ltd., China.
Coach Singapore Pte. Ltd., Singapore.
Coach Spain, S.L., Spain.
Coach Stores Canada, Inc., Canada.
Coach Stores France, SAS, France.
Coach Stores Germany GmbH., Germany.
Coach Stores Ireland Ltd., Ireland.
Coach Stores Ltd., UK.
Coach Stores Puerto Rico, Inc., USA.
Coach Stores, Unipessoal LDA, Portugal.
Coach Taiwan Co. Ltd., Taiwan.
Coach Thailand Holdings, LLC, USA.
Coach Vietnam Co. Ltd., Vietnam.
IP Recoveries LLC, USA.
Reed Krakoff LLC, USA.
34456510
0894313
Managing Director: Mr. Leonard
Todd Kahn
Nominal Share Capital: HK$100,000.00
(Divided into 100,000 shares of HK$1.00 each)
Issued Share Capital: HK$50,000.00
(As per registry dated 08-04-2012)
|
Name |
|
No. of shares |
|
Coach International Holdings Inc. c/o Close Brothers (Cayman) Ltd. Harbour Place, 103 South Church Street, P.O. Box 1034GT, Grand Cayman,
Cayman Islands. |
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50,000 ===== |
(As per registry dated 08-04-2012)
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Name (Nationality) |
Address |
|
Leonard Todd KAHN |
26 Hilltop Road, Katonah, New York 10536, USA. |
|
Daniel Jonathan ROSS |
61 Pocconock Trail, New Canaan, Connecticut 06840, USA. |
(As per registry dated 08-04-2012)
|
Name |
Address |
Co. No. |
|
Tricor Tengis Ltd. |
Level 28, Three Pacific Place, 1 Queen’s Road East, Hong Kong. |
0041027 |
The subject was incorporated on 8th April, 2004 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Gretna Co. Ltd.,
name changed to the present style on 21st April, 2004.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter and Retailer.
Lines: Footwear,
jewellery, travel bags, watches, sunwear, fragrance, etc.
Employees: 200. (Including retailing shops)
Commodities Imported: China, other
Asian countries, etc.
Markets: North
America, Hong Kong, Japan, Macau, China, Singapore, etc.
Group Net Sales: US$3,607,636,000 (Year ended 30-06-2010)
US$4,158,507,000 (Year ended 30-06-2011)
US$4,763,180,000 (Year ended 30-06-2012)
Terms/Sales: COD or as per contracted.
Terms/Buying: Various terms.
Nominal Share Capital: HK$100,000.00
(Divided into 100,000 shares of HK$1.00 each)
Issued Share Capital: HK$50,000.00
Group Operating Income: US$1,150,171,000 (Year ended 30-06-2010)
US$1,304,924,000 (Year ended 30-06-2011)
US$1,511,989,000 (Year ended 30-06-2012)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a
satisfactory manner.
Facilities: Making rather
active use of general banking facilities.
Payment: Met trade commitments as required.
Commercial Morality: Satisfactory.
Banker: The Hongkong & Shanghai Banking
Corp. Ltd., Hong Kong.
Standing: Very Good.
Coach Manufacturing Ltd. is a wholly-owned subsidiary of Coach
International Holdings Inc. which is a Cayman Islands-registered firm. The subject’s ultimate holding company Coach
Inc. [Coach] is a US-based and listed firm.
The subject is trading in the products of Coach.
Coach was founded in 1941 as a family-run workshop. In a Manhattan loft, six artisans handcrafted
a collection of leather goods using skills handed down from generation to
generation. Discerning consumers soon
began to seek out the quality and unique nature of Coach craftsmanship.
Now greatly expanded, Coach continues to maintain the highest standards
for materials and workmanship. Coach’s
exceptional work force remains committed to carefully upholding the principles
of quality and integrity that define the company.
Coach is America's preeminent designer, producer, and marketer of fine
accessories and gifts for women and men including handbags, business cases,
luggage and travel accessories, wallets, outerwear, eyewear, gloves, scarves,
fragrance and fine jewelry. Continued
development of new categories has further established the signature style and
distinctive identity of the Coach brand. Together with its licensing partners,
it also offers watches, footwear, eyewear and fragrance bearing the Coach brand
name.
In fiscal 2012, Coach had marketing websites in Australia, Bahrain,
Brazil, China, Colombia, France, Ireland, Malaysia, Mexico, Panama, Portugal,
Singapore, South Korea, Spain, Taiwan, Thailand, the United Kingdom,
the UAE, Venezuela and Vietnam.
While all of its products are manufactured by independent manufacturers,
Coach nevertheless maintain control of the supply chain process from design
through manufacture. It is able to do
this by qualifying raw material suppliers and by maintaining sourcing and
product development offices in China, Hong Kong, Vietnam, South Korea and
India that work closely with its independent manufacturers.
During fiscal 2012, approximately 71% of Coach’s total net sales were
generated from newly introduced products with no sales in the same quarter the
previous year. As the collections are
seasonal and planned to be sold in stores for short durations, its production
quantities are limited which lowers its exposure to excess and obsolete
inventory.
Coach operates an 850,000 sq. ft. distribution and consumer service
facility in Jacksonville, Florida. To
support its growth in China and the region, in fiscal 2010 it established an
Asia distribution centre in Shanghai, owned and operated by a third-party,
allowing it to better manage the logistics in this region while reducing
costs. Coach also operates a
distribution centre, through a third-party, in Japan.
Major trademarks carried by Coach include Coach, Coach and lozenge
design, Coach and tag design, Signature C design, Coach Op Art design and The
Heritage Logo (Coach Leatherware Est. 1941).
As of 30th June, 2012, Coach employed approximately 18,000 people,
including both full and part time employees.
Of these employees, approximately 6,200 and 8,000 were full time and
part time employees, respectively, in the retail field in North America; Japan;
Hong Kong, Macau, and mainland China; Taiwan; Singapore and Korea.
As of 30th June, 2012, Coach also occupied 354 retail and 169 factory
leased stores located in North America, 180 Coach-operated department store
shop-in-shops, retail stores and factory stores in Japan, 96 Coach-operated
department store shop-in-shops, retail stores and factory stores in Hong Kong,
Macau and mainland China, and 34 Coach-operated department store shop-in-shops,
retail stores and factory stores in Taiwan and Singapore.
The subject is fully supported by Coach.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.38 |
|
UK Pound |
1 |
Rs.87.80 |
|
Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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.