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Report Date : |
11.12.2014 |
IDENTIFICATION DETAILS
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Name : |
OXFORD INDUSTRIES INC. |
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Registered Office : |
C/o Unit 10-13 & 15-18, 13/F., Tower 1, Millennium City 1, 388 Kwun Tong
Road, Kwun Tong, Kowloon |
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Country : |
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Date of Incorporation : |
12.06.1981 |
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Legal Form : |
Listed Company |
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Line of Business : |
Apparel Buying Office. |
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No of Employees : |
40 |
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 : |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
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Source
: CIA |
Please be advised that Oxford Industries Inc. has not registered in Hong
Kong.
The company is not located at your “Level 14, Metroplaza, Tower 1,
OXFORD INDUSTRIES
INC.
ADDRESS: C/o Oxford Products
(International) Ltd.
Unit 10-13 & 15-18, 13/F., Tower 1,
Millennium City 1, 388 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong.
PHONE: 852-2481 2000, 2481 0185,
2487 1026
FAX: 852-2422
1104, 2422 0957, 2424 9116
E-MAIL: jwong@opil.com
Financial Controller: Mr. Michael Cheng
Incorporated in
Business Category: Apparel
Buying Office.
Total Net Sales: US$917,097,000 (Year ended 01-02-2014)
Employees: 40. (Hong Kong)
Main Dealing Banker: Citibank
N.A., Hong Kong Branch.
Banking Relation: Good.
OXFORD INDUSTRIES
INC.
Registered
Office:-
999 Peachtree Street NE, Suite 688, Atlanta, GA 30309, USA.
Operating Office:-
c/o Oxford Products (International) Ltd.
Unit 10-13 & 15-18, 13/F., Tower 1, Millennium City 1, 388 Kwun Tong
Road, Kwun Tong, Kowloon, Hong Kong.
Subsidiaries/Associated
Companies:-
Oxford Industries Group of Companies
Ben Sherman (Lurgan) Ltd., UK.
Ben Sherman (Manufacturing) Ltd., USA.
Ben Sherman Australia (Pty) Ltd., Australia.
Ben Sherman Clothing LLC, USA.
Ben Sherman Group Ltd., UK.
Ben Sherman Ltd., UK.
Camisas Bahia Kino S.A. de C.V., Mexico.
Dunkeld Fashions Ltd., UK.
Industrias Lanier De Honduras S. de R.L., Mexico.
Lionshead Clothing Co., USA.
Manufacturera de Sonora S.A. de CV, Mexico.
Neal & Cooper Ltd., UK.
Oxford Caribbean Inc., USA.
Oxford de Colon S.A., Costa Rica.
Oxford Garment Inc., USA.
Oxford Industries (UK2) Ltd., UK.
Oxford Industries (UK3) Ltd., UK.
Oxford International de Guatemala Sociedad Anonima, Guatemala.
Oxford International Inc., USA.
Oxford Lockbox Inc., USA.
Oxford of South Corolina Inc., South Carolina.
Oxford Private Ltd. of Delaware Inc., USA.
Piedmont Apparel Corporation, USA.
Q.R. Fashions S. de R.L., Honduras.
Rodeo International Ltd., UK.
Sherman Cooper Marketing Ltd., UK.
Slix Ltd., UK.
Sugartown Worldwide LLC, USA.
Tern Shirts Ltd., UK.
Textile Calefonia Investments Ltd., UK.
The Branded Shirt Co. Ltd., UK.
Tommy Bahama (Macau) Ltd., Macau.
Tommy Bahama Australia Pty. Ltd., Australia.
Tommy Bahama Beverage LLC., USA.
Tommy Bahama Global Sourcing Ltd., Hong Kong.
Tommy Bahama Group Inc., USA.
Tommy Bahama International Pte Ltd., Singapore.
Tommy Bahama K. K., Japan.
Tommy Bahama Ltd., Hong Kong.
Tommy Bahama R&R Holdings Inc., USA.
Tommy Bahama Texas Beverages LLC., USA.
Tommy Bahama Trading (Shenzhen) Co. Ltd., China.
Viewpoint Marketing Inc., USA.
Financial Controller: Mr. Michael Cheng
Chairman of the Board: Mr. J.
Hicks Lanier
Chief Executive Officer & President:
Mr. Thomas C. Chubb III
Senior Vice President - Finance, Chief Financial Officer
&Controller:
Mr. K. Scott Grassmyer
Chief Executive Officer - Lilly Pulitzer Group: Mr. Scott A. Beaumont
President - Lanier Clothes: Mr.
J. Wesley Howard Jr.
Chief Executive Officer - Tommy Bahama Group: Mr. Terry R. Pillow
Senior Vice President - Law & Administration, General Counsel &
Secretary: Mr. Thomas E. Campbell
Oxford Industries was founded in 1942, when Sartain, Hicks and Thomas Lanier
purchased the Oxford Manufacturing Company, a manufacturer of military
uniforms. Oxford Industries joined the
New York Stock Exchange in the 1960s.
Sartain Lanier served as Chairman of the Board and CEO until his
retirement in 1981, when his son J. Hicks Lanier became Chairman.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Buying Office;
Importers and Exporters; Agent.
Lines: Importers of
fabrics.
Exporters of garments
and clothing.
Employees: 40. (Hong Kong)
Commodities
Imported:-
Fabrics - Japan, Europe
Garments - Taiwan, Macau, China
Markets: US (main),
Canada and EEC.
Total Net Sales: US$758,913,000 (Year ended 28-01-2012)
US$855,542,000 (Year ended 02-02-2013)
US$917,097,000 (Year ended
01-02-2014)
US$503,895,000 (First Half Fiscal
2014)
Terms/Sales: L/C, T/T, D/P and
D/A.
Terms/Buying: Various terms.
Net Earnings: US$29,380,000 (Year ended 28-01-2012)
US$31,317,000 (Year ended
02-02-2013)
US$45,291,000 (Year ended
01-02-2014)
US$30,308,000 (First Half Fiscal
2014)
Profit & Loss: Group
business is profitable.
Condition: Keeping in an active
and good manner.
Facilities: Making active use of
general banking facilities.
Payment: So far so good.
Commercial Morality: Very Good.
Banker: Citibank N.A.,
Hong Kong Branch.
Standing: Good.
Oxford Industries Inc. [Oxford] is a US-based and listed company.
In Hong Kong it shares the office with its subsidiary Oxford Products
(International) Ltd. [OPIL].
OPIL was formed in November 1989 to take over the business of Oxford
Products (Far East) Ltd., a company incorporated in Hong Kong on
13th March, 1973.
Oxford is a listed firm in the United States. It is trading in the following commodities:
Children’s Wear (From China, Macau & Taiwan); Blouses (From China, Macau
& Taiwan); Jeans (From China, Macau & Taiwan); Dresses & Skirts
(From China, Macau & Taiwan); Shirts (From China, Macau & Taiwan);
Trousers (From China, Macau & Taiwan); Slacks (From China, Macau &
Taiwan); Cardigan; Sweater & Pullover (From China, Macau & Taiwan);
Sporting Knitwear (From China, Macau & Taiwan); Tee & Sweat Shirts
(From China, Macau & Taiwan); Swimwear (From China, Macau & Taiwan), etc.
Oxford, incorporated on April 27, 1960, is a global apparel company that
designs, sources, markets and distributes products bearing the trademarks of
its Company-owned lifestyle brands, as well as certain licensed and private
label apparel products. Its portfolio of
brands includes Tommy Bahama, Lilly Pulitzer and Ben Sherman. It distributes its Company-owned lifestyle
branded products through its direct to consumer channel, consisting of its
retail stores and e-commerce sites, and its wholesale distribution channel,
which includes better department stores and specialty stores.
As of February 1, 2014, the Oxford operates 141 Tommy Bahama, 23 Lilly
Pulitzer and 17 Ben Sherman retail locations, including outlet locations for
Tommy Bahama and Ben Sherman.
OPIL is responsible for commodities sourcing, inspection and shipping in
Hong Kong.
In Fiscal 2013, Oxford’s net sales amounted to US$917.1 million (fiscal
2012: US$855.5 million), net earnings were US$45.3 million (fiscal 2012:
US$31.3 million).
During Fiscal 2013, 89% of Oxford’s net sales were from products bearing
brands that we own, and 59% of its net sales were sales of its products through
its direct to consumer channels of distribution, which includes its 181 owned
retail stores, its e-commerce websites and its 14 Tommy Bahama
restaurants. In Fiscal 2013, more than
90% of its consolidated net sales were to customers located in the United
States, with the sales outside the United States primarily being sales of its
Ben Sherman products in the United Kingdom and Europe as well as sales of its
Tommy Bahama products in the Asia-Pacific region and Canada.
During Fiscal 2013, Oxford sourced approximately 62% of its products
from producers located in China, with less than 10% of its products sourced
from each other single country.
Oxford purchases substantially all of its products from third-party
producers as package purchases of finished goods, which are manufactured with
its oversight and to its design and fabric specifications.
For the first half fiscal of 2014, the net sales of Oxford amounted to
US$503.9 million (same period of 2013: US$469.2 million).
As of February 1, 2014, Oxford employed approximately 5,100 persons, of
whom approximately 80% were employed in the United States. Approximately 65% of
its employees were retail store and restaurant employees.
On the whole, in view of the background of Oxford, consider it good for
normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.95 |
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1 |
Rs.97.16 |
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Euro |
1 |
Rs.76.75 |
INFORMATION DETAILS
|
Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
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.