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Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
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Name : |
LEVI STRAUSS DE MEXICO S.A. DE C.V. |
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Registered Office : |
Jaime Balmes 8, Int.502, Col. Los Morales Polanco, Deleg. Miguel
Hidalgo 11510 |
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Country : |
Mexico |
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Date of Incorporation : |
18.08.1966 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Manufacture and distribution of items of clothing for men and women
such as trousers, jeans, shorts, shirts, T- shirt, dresses, jackets,
sweatshirts |
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No. of Employees : |
370 |
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, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Mexico |
A2 |
A2 |
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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 |
MEXICO - ECONOMIC OVERVIEW
Mexico has a free market economy in the trillion dollar
class. It contains a mixture of modern and outmoded industry and agriculture,
increasingly dominated by the private sector. Recent administrations have
expanded competition in seaports, railroads, telecommunications, electricity
generation, natural gas distribution, and airports. Per capita income is
roughly one-third that of the US; income distribution remains highly unequal.
Since the implementation of the North American Free Trade Agreement (NAFTA) in
1994, Mexico's share of US imports has increased from 7% to 12%, and its share
of Canadian imports has doubled to 5.5%. Mexico has free trade agreements with
over 50 countries including Guatemala, Honduras, El Salvador, the European Free
Trade Area, and Japan - putting more than 90% of trade under free trade
agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership
negotiations and in July it formed the Pacific Alliance with Peru, Colombia and
Chile. In 2007, during its first year in office, the Felipe CALDERON
administration was able to garner support from the opposition to successfully
pass pension and fiscal reforms. The administration passed an energy reform
measure in 2008 and another fiscal reform in 2009. Mexico's GDP plunged 6.2% in
2009 as world demand for exports dropped, asset prices tumbled, and remittances
and investment declined. GDP posted positive growth of 5.6% in 2010 with
exports - particularly to the United States - leading the way. Growth slowed to
3.9% in 2011 and slightly recovered to 4% in 2012. In November 2012, Mexico's
legislature passed a comprehensive labor reform which was signed into law by
former President Felipe CALDERON. Mexico's new PRI government, led by President
Enrique PENA NIETO, has said it will prioritize structural economic reforms and
competitiveness. The new president signed the Pact for Mexico, an agreement
that lists 95 priority commitments, along with the leaders of the country's
three main political parties: the Institutional Revolutionary Party (PRI), the
National Action Party (PAN) and the Party of the Democratic Revolution (PRD).
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Source
: CIA |
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CORRECT COMPANY NAME |
LEVI STRAUSS DE MEXICO S.A. DE C.V. |
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TRADE NAME |
LEVI STRAUSS DE MÉXICO |
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TAXPAYER REGISTRATION |
RFC LSM660818M98 |
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MAIN ADDRESS |
Jaime Balmes 8, Int.502, Col. Los Morales Polanco, Deleg. Miguel
Hidalgo |
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POSTAL CODE |
11510 |
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DEPT/PROV/REGION/STATE |
México DF |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 52828400 |
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CORPORATE E-MAIL |
kcasillas@levi.com |
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WEB |
www.levi.com.mx |
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COMMENTS |
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Other website: www.levistrauss.com |
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Date of foundation |
1966 |
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Capital stock |
No specified |
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permanent employees |
370 |
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Disposition |
TF: REPORT PREPARED FROM OUTSIDE SOURCES. |
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Payments policy |
(P2) Usually to terms / good |
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Credit (**) |
UNDETERMINED RISK.(Insufficient or Non existent information). |
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Number of times that this company was required: 6 |
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF INCORPORATION |
18AUG1966 |
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PLACE OF REGISTRY |
Mexico DF |
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NOTARY OFFICE |
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DURATION |
99 years |
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CURRENT PAID-IN CAPITAL |
No specified |
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PARENT COMPANY |
LEVI STRAUSS & CO.(USA) |
LISTED AT STOCK |
No |
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CURRENT EXCHANGE RATE (US$) |
Ps$.13,04 per USADollar |
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COMMENTS |
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Membership: - American Chamber of Commerce
of México A.C. (AMCHAM)". - National Chamber of
Small-sized Commerce, Service and Tourism of the City of Mexico - National Chamber of the
Clothes Industry |
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LEVI STRAUSS & CO. |
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BUSINESS BACKGROUND Levi Strauss & Co.; is a manufacturer of items of clothing,
globally well-known for its brand Levi's (jeans). It was founded in 1853 in
Sacramento (California, United States) by Levi Strauss, a Jewish immigrant
from Buttenheim, in the region of Franconia, Bavaria, south of Germany. Head Offices are located at: 1155 Battery St., San Francisco, CA,
94111 United States, Tel: (415) 501-6000. |
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Levi Strauss of México is a Mexican concern fully
controlled by American capital, founded in 1966 by the Parent Company to
serve the Mexican market. The Company is a subsidiary of LEVI STRAUSS & CO. a
company that since 1852 is engaged in the manufacture and trading of jeans
and casual clothes under its brands: Levi's, Dockers and Slates. Today, Levi Strauss & Co. is present in over 110
countries with genuine products of multiple influences, which combine style
and functionality to the most original fashion trends of the world. The company employs a staff of approximately 1,300
people at its headquarters in San Francisco, California and about 17,000
people worldwide. At present, it has 21 production facilities and 25
customer support centers worldwide. Levi Strauss usually manufactures its
products in regions where they are sold. Certain subsidiaries of "Levi Strauss &
Co." are: |
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SIC
Classification |
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Main activity |
Manufacture and distribution of items of clothing for men and women such
as trousers, jeans, shorts, shirts, T- shirt, dresses, jackets, sweatshirts Brands: LEVI'S; DOCKERS |
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O P E R A T I O N S |
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Import |
Yes |
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Country |
Vietnam, Pakistan, Turkey, Hong Kong, Bulgaria, Poland, Brazil, etc..,
Through direct credit |
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% CASH SALES / METHOD |
100% (general public at stores) |
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% Credit SALES / Terms |
100% Terms:30-60 Days(department stores) |
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% DOMESTIC PURCHASES |
50% |
% FOREIGN PURCHASES |
50% |
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SELLING TerritorY |
Nationally 100% |
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EMPLOYEES |
370 |
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Comments |
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Clients: The Company sells products through main department stores. |
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Disposition |
TF: REPORT PREPARED FROM OUTSIDE SOURCES. |
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Information provided |
All the information contained in this report has been collected from
outside sources as it was not possible to get information from the Company
directly due to confidential policy. Efforts to obtain balance sheets or estimated accounting figures of
this Company proved unsuccessful. As reference report contains the Consolidated Balance Sheet of LEVI
STRAUSS & CO. and Subsidiaries at 26/05/2013, in U.S. Dollars (US$). |
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Comments |
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CONSOLIDATED BALANCE
SHEET OF LEVI STRAUSS & CO. AND SUBSIDIARIES BALANCE SHEET DATE : 26MAY2013 BALANCE SHEET TYPE :
Consolidated TYPE OF CURRENCY : US Dollars ASSETS TOTAL CURRENT :
1,517,505,000.00 FIXED : 445,887,000.00 OTHER : 1,017,380,000.00 TOTAL ASSETS : 2,980,772,000.00 LIABILITIES TOTAL CURRENT :
685,923,000.00 LONG-TERM : 2,254,673,000.00 SHAREHOLDERS' EQUITY :
40,176,000.00 TOTAL LIAB/EQUITY :
2,980,772,000.00 SALES : 2,245,576,000.00 NET PROFIT (LOSS) :
155,084,000.00 NET PROFIT ATTRIBUTABLE TO LEWIS STRAUSS& CO.
: 155,169,000.00 |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINED As no accounting elements were available, it is not possible to get a
clearer vision of the financial situation of this Company. |
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Property of company comments |
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They include: - Office furniture and fixtures - Computers - Vehicles |
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(Confidential Information)
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TRADE REFERENCES |
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Note : Other suppliers did not provide information or could not be
consulted |
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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.61.99 |
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1 |
Rs.101.37 |
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Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.