|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUESS EUROPE SAGL |
|
|
|
|
Registered Office : |
Piazza San Camillo De Lellis, S. N. 20100 – Milano (MI) – IT - |
|
|
|
|
Country : |
Italy |
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|
|
|
Date of Incorporation : |
09.11.2006 |
|
|
|
|
Com. Reg. No.: |
CH50140073641 |
|
|
|
|
Legal Form : |
Limited liability company |
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|
|
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Line of Business : |
Wholesale of clothing and accessories |
|
|
|
|
No. of Employees |
150 to 175 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Not registered at the competent local Firm's
Registry |
|
Payment Behaviour : |
Unknown |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified industrial
economy, which is divided into a developed industrial north, dominated by
private companies, and a less-developed, highly subsidized, agricultural south,
where unemployment is higher. The Italian economy is driven in large part by
the manufacture of high-quality consumer goods produced by small and
medium-sized enterprises, many of them family-owned. Italy also has a sizable
underground economy, which by some estimates accounts for as much as 17% of
GDP. These activities are most common within the agriculture, construction, and
service sectors. Italy is the third-largest economy in the euro-zone, but its
exceptionally high public debt and structural impediments to growth have
rendered it vulnerable to scrutiny by financial markets. Public debt has
increased steadily since 2007, topping 133% of GDP in 2013, but investor
concerns about Italy and the broader euro-zone crisis eased in 2013, bringing
down Italy's borrowing costs on sovereign government debt from euro-era. The
government still faces pressure from investors and European partners to sustain
its efforts to address Italy's long-standing structural impediments to growth,
such as labor market inefficiencies and widespread tax evasion. In 2013
economic growth and labor market conditions deteriorated, with growth at -1.8%
and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's
GDP is now 8% below its 2007 pre-crisis level
|
Source
: CIA |
|
Guess Europe Sagl |
|
Piazza |
San Camillo De Lellis, |
s.n. |
|
20100 |
- Milano |
(MI) |
-IT- |
|
Fiscal Code |
: |
|
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
09/11/2006 |
|
Turnover Range |
: |
unknown |
|
Number of Employees |
: |
from 150 to 175 |
|
The company under review belongs to the USA group Guess. |
|
Guess, Inc. (GUESS), designs, markets, distributes and licenses
apparel |
|
and accessories for men, women and children. The Company’s apparel is
marketed |
|
under numerous trademarks including GUESS, GUESS?, GUESS U.S.A., GUESS
|
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Jeans, GUESS? and Triangle Design, MARCIANO, Question Mark and
Triangle |
|
Design, a stylized G and a stylized M, GUESS Kids, Baby GUESS, YES, G
by |
|
GUESS, GUESS by MARCIANO and Gc. |
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The lines include full collections of clothing, including jeans,
pants, |
|
overalls, skirts, dresses, shorts, blouses, shirts, jackets, knitwear
and |
|
intimate apparel. It also grant licenses to manufacture and distribute
|
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a range of products that complement its apparel lines, including
eyewear, |
|
watches, handbags, footwear, kids' and infants' apparel, leather
apparel, |
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swimwear, fragrance, jewelry and other fashion accessories. The
Company’s |
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products are sold through retail, wholesale, e-commerce and licensing
distribution |
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channels. The Company operates in five segments: North American
retail, |
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Europe, Asia, North American wholesale and licensing. |
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In their Europe segment, they sell products in 72 countries throughout
|
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Europe and the Middle East through wholesale, retail and e-commerce
channels. |
|
In fiscal 2013, our Europe segment accounted for approximately 35.3%
of |
|
their revenues and 37.9% of our earnings from operations. |
|
* * * * |
|
Coming back to the company under review, we let you know that the
legal |
|
seat is in Switzerland and not in Italy, therefore a balance-sheet is
not |
|
available. |
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Group's shares are listed at New York Stock Exchange. |
|
Business transactions on credit basis are feasible. |
Wholesale of clothing and accessories
Wholesale of leather goods; luggage in any material
Legal Form : Limited liability company
|
V.A.T. Code : 05847610960 |
|
Registration No. : CH50140073641 |
|
|
|
: 660849 |
|
Foundation date |
: 09/11/2006 |
|
|
Establishment date |
: 09/11/2006 |
|
|
Start of Activities |
: 09/11/2006 |
|
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Nominal Capital |
: 83.963 |
|
|
Subscribed Capital |
: 83.963 |
|
|
Paid up Capital |
: 83.963 |
The firm under review is not registered at the competent local Firm's
Registry.
|
Marciano |
Paul |
|
Born in Tiaret |
( ) |
on 12/04/1952 |
- Fiscal Code : MRCPLA52D12Z301P |
|
Residence: |
South Alameda Street |
, 1444 |
Los Angeles |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
|
No Prejudicial events are reported |
|
Bariguian |
Gilles |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
19/10/2012 |
|
Relich |
Michael |
|
: |
Santa Alberta Circle |
- US - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
08/01/2014 |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
Marciano |
Paul |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Maco Apparel S.r.l. |
Sesto Fiorentino (FI) - IT - |
04219000488 |
Director |
Withdrawn |
Ceased |
|
Guess Italia S.r.l. |
Firenze (FI) - IT - |
10904000154 |
Director |
Withdrawn |
Registered |
|
Focus Europe S.r.l. |
Crevalcore (BO) - IT - |
01934481209 |
Director |
Withdrawn |
Registered |
|
Barn - S.r.l. |
Firenze (FI) - IT - |
05284250486 |
Director |
Withdrawn |
Ceased |
|
Barn - S.r.l. |
Firenze (FI) - IT - |
05284250486 |
Board Chairman |
Withdrawn |
Ceased |
The indication "REGISTERED" as Firm Status could refer to
Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request further
investigations.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Guess Europe BV |
83.123 .Chf |
99,00 |
The Company under review has no participations in other Companies.
In order to carry out its activities the firm uses the following
locations:
|
- |
Registered office |
since 06/08/2009 |
|
Strada Regina |
, 44 |
- 6992 |
- Bioggio/ti |
- CH - |
|
PHONE |
: 0918095000 |
|
FAX |
: 0918095100 |
|
Email |
: www.guess.com |
|
- |
Branch |
|
San Camillo De Lellis |
, 44 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 0266988125 |
|
- |
Branch |
|
Por Santa Maria |
, 38/40 R |
- 50100 |
- Firenze |
(FI) |
- IT - |
|
PHONE |
: 055281990 |
|
- |
Branch |
|
Portico |
, 71 |
- 24050 |
- Orio Al Serio |
(BG) |
- IT - |
|
- |
Branch |
|
Fillungo |
, 33 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 058346431 |
|
- |
Branch |
|
via San Grato |
, 1 |
- 6924 |
- Sorengo |
- CH - |
|
PHONE |
: 0919800870 |
|
Employees |
: 160 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Guess Swiss Europe Sagl |
Guess Europe Sagl |
02/11/2007 |
EX-MEMBERS / EX-POSITIONS:
|
Pecchioli Leonardo |
|
- Fiscal Code : PCCLRD23M20I921O |
|
Ex-Postions |
|
Director |
|
Donnini |
Luca |
|
Born in Firenze |
(FI) |
on 01/11/1963 |
- Fiscal Code : DNNLCU63S01D612A |
|
Residence: |
Via Rubiana |
, 27 |
Gentilino |
- CH - |
|
Ex-Postions |
|
Board Chairman |
|
Secor |
Dennis Robert |
|
Born in Los Angeles |
( ) |
on 24/09/1962 |
|
Ex-Postions |
|
Director |
|
Reddy |
Sandeep Rajaram |
|
Ex-Postions |
|
Procurator |
CEASINGS/INCORPORATIONS/MERGES:
|
The firm absorbed by merging of |
|
Guess Swiss Sagl |
|
Date |
: |
27/07/2010 |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official
Publications.
|
Consolidated result |
28/02/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.863.464.639 |
|
Profit (Loss) for the period |
125.284.923 |
|
Shareholders' equity |
771.618.420 |
|
Consolidated result |
28/01/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.870.083.409 |
|
Profit (Loss) for the period |
189.703.512 |
|
Profit before tax |
279.905.376 |
|
Tax |
90.201.864 |
|
Consolidated result |
29/01/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.662.628.443 |
|
Profit (Loss) for the period |
202.921.427 |
|
Shareholders' equity |
747.314.782 |
|
Depreciation |
44.682.835 |
|
Operating income |
283.614.635 |
|
Cash flow |
242.779.842 |
|
Investments |
86.258.499 |
|
Consolidated result |
30/01/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.491.880.564 |
|
Profit (Loss) for the period |
172.657.181 |
|
Shareholders' equity |
719.382.491 |
|
Depreciation |
39.616.598 |
|
Operating income |
251.500.666 |
|
Cash flow |
251.075.909 |
|
Investments |
57.675.755 |
1) Protests checking (relative to the last five years) performed by
crossing and matching the members names and the Firm's Style with the reported
addresses, is supplied by the Informatic Registry managed by the Italian
Chamber of Commerce. If the fiscal code is not indicated, the eventual
homonymous cases are submitted to expert staff evaluation in order to limit
wrong matching risks.
2) The Legal Data, supplied and retrived from the Firm's Registry of the
Italian Chamber of Commerce, are in line with the last registered
modifications.
3) Risk evaluation and Credit Opinion have been performed on the base of
the actual data at the moment of their availability.
|
Population living in the province |
: |
3.839.216 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
The values are calculated on a base of 9.175 significant companies.
The companies cash their credits on an average of 114 dd.
The average duration of suppliers debts is about 118 dd.
The sector's profitability is on an average of 2,03%.
The labour cost affects the turnover in the measure of 8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and the resources used to
realize it is about 1,25.
The employees costs represent the 8,25% of the production costs.
Statistically the trade activity passes through serious crises.
The area is statistically considered lowly risky.
In the region 50.886 protested subjects are found; in the province they
count to 24.765.
The insolvency index for the region is 0,55, , while for the province it
is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.22 |
|
|
1 |
Rs.100.78 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.