MIRA INFORM REPORT

 

 

Report Date :

12.04.2013

 

IDENTIFICATION DETAILS

 

Name :

TALLY WEIJL TRADING AG

 

 

Registered Office :

Viaduktstrasse 42 4051 Basel/BS

 

 

Country :

Switzerland

 

 

Date of Incorporation :

23.03.1998

 

 

Com. Reg. No.:

400.3.019.282-5 / 423684

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

Wholesale of clothing and footwear

 

 

No. of Employees :

70

 

 

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

 

Status :

Satisfactory

Payment Behaviour :

Usually Correct

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Switzerland

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SWITZERLAND - ECONOMIC OVERVIEW

 

Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's, to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy recovered in 2010 with 2.7% growth. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safehaven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell to 2.1% in 2011. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and in 2011 it reached deals with Germany and the UK to resolve outstanding issues, particularly the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.

Source : CIA

Company name and address

 

Tally Weijl Trading AG

 

Operating address:

Viaduktstrasse 42

4051 Basel/BS

Switzerland/CH

 

Telephone:                   061 5686000

Fax:                             061 5686200

 

Web site:                      http://www.tally-weijl.com

E-mail:                         contact@tally-weijl.com

 

VAT-No.:                      CHE104296780

 

Profile

 

Established:                 1998

Line of Business:          Consumer goods wholesale

Industry Division:          Wholesale trade

Industry-code (NACE):  4642       Wholesale of clothing and footwear

Import/Export:              Import, Export

Banks:                          unknown

 

 

Operational Figures

 

Coverage:                    Company

Figures:                        estimated

Employees:                  70

Sales:                          CHF 20-40 Mio

 

 

Activity

 

The business activities includes the sale of clothes, shoes and fashion accessories. Brand: Tally Weijl. The Group operates more than 760 stores in 31 countries.

 

 

Real Estate

 

Information on property ownership was not available.

Company Register

 

Company No:               400.3.019.282-5 / 423684

Legal form:                   Company limited by shares

Registration:                 23.03.1998

Legal status:                 active

Responsible Register:   Handelsregister des Kantons Basel-Stadt (since 23.05.2006)

History:                        Date of Incorporation Statutes: 25.02.1998

                                    Date of Statutes: 22.05.2006

 

Entry          Deleted      Name

active                           Tally Weijl Trading AG

active                           Tally Weijl Trading SA (Name translated)

 

Entry          Deleted      Legal domicile

23.05.2006                    Basel, Switzerland

                  01.01.1984  Tally Weijl, Switzerland

                  23.05.2006  Strengelbach, Switzerland

 

Entry          Deleted      Address

23.05.2006                    Viaduktstrasse 42, 4051 Basel/BS, Switzerland/CH

 

Entry          Deleted      Capital

active                           Share Capital CHF 200'000, paidup CHF 200'000

 

Entry          Deleted      Capital Structure

active                           20'000 Registered shares of CHF 10.--

 

Entry          Deleted      Activity (original Language)

active                           Handel mit Textilien und Modeartikeln aller Art. Die Gesellschaft kann sich an anderen Unternehmen beteiligen sowie Grundstücke erwerben, halten und veräussern.

 

Entry          Deleted      Remarks (original Language)

active                           Publishing authority: SHAB.

active                           Reports: Mitteilungen an die Aktionäre: Eingeschriebene Briefe an die im Aktienbuch verzeichneten Adressen.

active                           Shares: Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.

active                           Contribution in kind/Asset takeover: Die Gesellschaft übernimmt anlässlich ihrer Gründung von der Parimod AG, in Strengelbach, den Betriebsteil Textilhandel gemäss Bilanz per 31.12.1997 mit Aktiven von CHF 15'443'467.03 und Passiven von CHF 15'243'467.03, wofür 20'000 Namenaktien zu CHF 10.-- ausgegeben werden

27.06.2007                    Merger: Übernahme der Aktiven und Passiven der Tally Weijl International AG, in Basel (CH-270.3.013.697-7) gemäss Fusionsvertrag vom 18.06.2007 und Bilanz per 31.12.2006. Aktiven von CHF 1'304'343.43 und Passiven (Fremdkapital) von CHF 1'270'818.83 gehen auf die übernehmende Gesellschaft über. Gemäss Bestätigung des besonders befähigten Revisors liegen Rangrücktrittserklärungen im Umfang der Unterdeckung vor. Da dieselbe Aktionärin sämtliche Aktien der an der Fusion beteiligten Gesellschaften hält, findet weder eine Kapitalerhöhung noch eine Aktienzuteilung statt.

 

Official Administration

 

Title                                           Name

President                                    Beat Grüring, Origin: Biel/Bienne, Switzerland, Residential address: Riehen, Switzerland, joint signature of two

Company Secretary                     Ravital Elfassi, Origin: Biel/Bienne, Switzerland, Residential address: Zug, Switzerland, joint signature of two

 

 

External Positions

 

Title                                           Name

Auditor                                       Ernst & Young AG, Origin: Bern, Switzerland, Residential address: Bern, Switzerland

 

 

Ultimate Parent Company

 

Name:                          Tally Weijl Holding AG

City/Country:                Basel/BS, Switzerland/CH

 

 

Owner/-s

 

No. of Owner/-s:           1

Owner:                         The company is domestic owned.

 

Class:                          100%

Name:                          Tally Weijl Holding AG

City/Country:                Basel/BS, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest

 

TALLY WEiJL is a leading international fashion label which designs, produces and sells sexy fashion for young women and girls in its own stores. TALLY WEiJL was founded in 1984 by Tally Elfassi-Weijl and Beat Grüring at Lohn in the Canton of Solothurn (Switzerland).

 

 

Sisters

 

Name:                          Elam AG

City/Country:                Zug/ZG, Switzerland/CH

 

Name:                          Tally Weijl France SA

City/Country:                Paris, France/FR

 

Name:                          Tally Weijl Holding GmbH

City/Country:                Loerrach, Germany/DE

 

Name:                          Tally Weijl Holdings (Europe) Aps

City/Country:                Kopenhagen, Denmark/DK

 

Name:                          Tally Weijl Retail Switzerland AG

City/Country:                Basel/BS, Switzerland/CH

 

Name:                          TWSS Adriatic Holdings GmbH

City/Country:                Basel/BS, Switzerland/CH

 

 

Investments

 

It is believed that the company has no investments.

 

 

Financials

 

In 2011, TALLY WEiJL generated external sales of 515 million euros with 2'800 employees.

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

04.09.2012          2012                           0

04.09.2012          2011                           0

04.09.2012          2010                           0

04.09.2012          2009                           0

04.09.2012          2008                           1                       100.--      Legal actions

31.08.2011          2007                           2                       831.--      Legal actions

31.08.2011          2007                           1                           5'369.--       Opposition filed

 

An updated legal action check is only available against proof of interest. e.g. a copy of an enquiry letter, and order or invoice relating to the subject company.

 

 

Remarks

 

Debt collection case:

AUG 2009: CHF 11'050.00, booked up.

 

 

Credit Information

 

Financial Statements:    The company does not disclose any financial statements. Third parties are not permitted any insight into the financial affairs. It is therefore difficult to make a proper assessment of the actual situation.

 

Financial Situation:        The financial situation is in order.

 

Payment experiences:   Financial obligations are met in an orderly manner.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.53

UK Pound

1

Rs.83.59

Euro

1

Rs.71.33

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.