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Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
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Name : |
LEVI'S FOOTWEAR & ACCESSORIES (SWITZERLAND) SA |
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Registered Office : |
Via alla Campagna 6934 Bioggio/TI Switzerland/CH |
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Country : |
Switzerland |
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Financials (as on) : |
25.11.2012 |
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Date of Incorporation : |
21.02.1996 |
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Com. Reg. No.: |
660.0.321.996-0 / 371468 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Trading in shoes, clothing and accessories |
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No. of Employees : |
06 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
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 began to recover in 2010. 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 safe-haven 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 below 2% per year during 2011-13. 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 is considering 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 |
LEVI'S FOOTWEAR
& ACCESSORIES (SWITZERLAND) SA
Via alla Campagna
6934 Bioggio/TI
Switzerland/CH
Telephone: 091
6115171
Fax: 091
6001855
WIN
Worldbox No.: CH0002910504
VAT-No.: CHE103429067
Established: 1996
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4642 Wholesale of clothing and footwear
Import/Export: Import
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 6
The business activities includes trading in
shoes, clothing and accessories.
Information on property ownership was not
available.
Company
No: 660.0.321.996-0 / 371468
Legal
form: Company limited by
shares
Registration: 21.02.1996
Legal
status: active
Responsible
Register: Registro di commercio del
Cantone Ticino (since 18.12.2000)
History: Date of Statutes:
20.04.1998
Date of
Statutes: 12.04.1999
Date of
Incorporation Statutes: 16.02.1996
Date of
Statutes: 30.09.2009
Date of
Statutes: 06.07.2009
Date of
Statutes: 01.10.2007
Date of
Statutes: 28.01.2005
Date of
Statutes: 18.12.2000
Entry Deleted Name
07.10.2009 Levi's
Footwear & Accessories (Switzerland) SA
07.10.2009 The DC Company (Switzerland) SA
Entry Deleted Legal domicile
18.12.2000 Bioggio,
Switzerland
18.12.2000 Carouge GE, Switzerland
Entry Deleted Address
18.12.2000 Via
alla Campagna, Centro Nord-Sud, 6934 Bioggio/TI, Switzerland/CH
18.12.2000 Rue Vautier 37-39, c/o Robilac SA, 1227
Carouge/GE, Switzerland/CH
Entry Deleted Capital
07.10.2009 Share
Capital CHF 250,000, paidup CHF 250,000
07.10.2009 Share Capital CHF 5,000,000, paidup CHF
5,000,000
Entry Deleted Capital Structure
07.10.2009 250
Registered shares of CHF 1,000.--
07.10.2009 5,000 Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
active Operazioni
di compra-vendita, attività di marketing in Svizzera con marchio proprio o con
licenza per marchio, in modo particolare nel campo dell'industria di vestiario,
della calzatura, dell'abbigliamento e degli accessori.
Entry Deleted Remarks (original Language)
active Publishing
authority: FUSC.
07.10.2009 Capital:
Riduzione del capitale azionario ai sensi dell'art. 732 CO da CHF 5'000'000.--
a CHF 250'000.--, mediante annullamento e rimborso agli azionisti di 4'750
azioni nominative da CHF 1'000.--. Le formalità previste dall'art. 734 CO sono
state constatate con atto pubblico del 30.09.2009.
Title Name
President Luca
Tinucci, Origin: Italy, Residential address: Viganello (Lugano), Switzerland,
single signature, Registered since: 23.04.2012
Director Roberto
Carnabuci, Origin: Italy, Residential address: Malgrate, Italy, single
signature, Registered since: 15.05.2009
Director Arne
Fensky, Origin: Germany, Residential address: Würenlingen/AG, Switzerland,
single signature, Registered since: 07.10.2009
Director Elisabeth
Puistienne, Origin: France, Residential address: Brussels , Belgium, single
signature, Registered since: 10.10.2011
Title Name
Auditor PricewaterhouseCoopers
SA, Residential address: Lugano, Switzerland, Id: CH-514.9.014.248-1
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 25.11.2012 27.11.2011 28.11.2010 29.11.2009
Number of months: 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD
Intangible fixed
assets 299,880.0 312,788.0 326,124.0 344,966.0
Tangible fixed
assets 458,807.0 502,388.0 488,603.0 430,070.0
Financial fixed
assets 0.0 0.0
other fixed assets 733,017.0 721,158.0 669,390.0 708,481.0
Fixed assets 1,491,704.0 1,536,334.0 1,484,117.0 1,483,517.0
Stocks 518,860.0 611,402.0 579,903.0 451,272.0
Trade accounts
receivable 654,903.0 553,385.0
Liquid assets 406,134.0 204,542.0 269,726.0 270,804.0
other trade
accounts 272,374.0 248,118.0
Other current
assets 476,916.0 517,844.0
Current assets 1,678,373.0 1,743,221.0 1,651,132.0 1,505,864.0
Total assets 3,170,077.0 3,279,555.0 3,135,249.0 2,989,381.0
Capital 29,640.0 19,213.0
Other shareholders
funds -188,230.0 -229,849.0
Total shareholders
equity -99,038.0 -158,590.0 -210,636.0 -331,181.0
Minority interests 5,413.0 8,761.0 10,808.0 17,735.0
long term debt
(financial debts) 1,669,452.0 1,819,624.0 1,820,306.0 1,834,151.0
Provisions 695,883.0 636,845.0
Other non current
liabilities 101,487.0 737,499.0 755,246.0 104,855.0
Non current
liabilities 2,466,822.0 2,557,123.0 2,575,552.0 2,575,851.0
short term debt
(financial debts) 154,747.0 46,418.0
Trade accounts
payable 204,897.0 212,935.0
Accruals 510,903.0 498,395.0
other accounts
payable 1,714.0 1,777.0
other current
liabilities 512,617.0 500,172.0
Current
liabilities 796,880.0 872,261.0 759,525.0 726,976.0
Shareh. equity,
min. interests + liabilities 3,170,077.0 3,279,555.0 3,135,249.0 2,989,381.0
Sales 4,674,426.0 4,325,908.0
Net sales 4,610,193.0 4,674,426.0 4,325,908.0 4,105,766.0
Other operating
revenue 89,188.0 85,395.0
Operating revenue 4,763,614.0 4,411,303.0
Cost of goods sold 2,469,327.0 2,187,726.0
Gross profit 2,294,287.0 2,223,577.0
Other operating
expenses 1,955,846.0 1,841,562.0
Operating result 330,575.0 338,441.0 382,015.0 339,806.0
Interest revenues 1,618.0 2,232.0
Financial income 1,618.0 2,232.0
Interest expenses 132,043.0 135,823.0
other financial
expenses 248.0 16,587.0
Financial expenses 132,291.0 152,410.0
Financial result -130,673.0 -150,178.0
Result before
extraordinary items 207,768.0 231,837.0
Extraordinary
income 15,310.0 9,940.0
Extraordinary
expenses 20,251.0 6,179.0
Extraordinary
Result -4,941.0 3,761.0
Result before
taxes 202,827.0 235,598.0
Taxes 67,715.0 86,152.0
Result before
minority interests 135,112.0 149,446.0
minority interests -2,841.0 -7,057.0
Result for the
financial year 143,850.0 137,953.0 156,503.0 151,875.0
Cash flow
Depreciation 117,793.0 104,896.0
Cash flow 252,905.0 254,342.0
Cash flow from
operating activities 1,848.0 146,274.0
Investments in
tangible fixed assets 130,580.0 154,632.0
Cash flow from
investing activities -140,957.0 -181,781.0
Cash flow from
financing activities 77,707.0 32,313.0
Others -3,782.0 2,116.0
Change in
liquidity -65,184.0 -1,078.0
Liquidity at
beginning of the year 269,726.0 270,804.0
Liquidity at end
ot the year 204,542.0 269,726.0
Added value 452,663.0 476,317.0
Working Capital 1,061,408.0 920,353.0
Sales per Employee 275.0
Gross cost land
and buildings 469,690.0 491,631.0
Gross cost other
tangible fixed assets 764,557.0 680,230.0
Gross cost total 1,234,247.0 1,171,861.0
Employees at year end 17,000
Employees inland 9,600
Employees abroad 7,400
Name: Levi Strauss &
Company
City/Country: San Francisco/California, United
States of America/US
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: Levi Strauss &
Company
City/Country: San Francisco/California, United
States of America/US
Interest: 100,00% voting right,
100,00% capital interest
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
16.07.2009 2009 0
22.11.2005 2005 0
22.11.2005 2004 0
22.11.2005 2003 0
22.11.2005 2002 0
22.11.2005 2001 0
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.
Debt Collection Case:
SEP 2011: CHF 209.00, paid.
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 considered to be in order.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.