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Report No. : |
315514 |
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Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BUFFALO INTERNATIONAL ULC |
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Registered Office : |
400 Rue Sauve Ouest, Montreal, Quebec H3L 1Z8 - Canada |
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Country : |
Canada |
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Date of Incorporation : |
01.01.2012 |
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Legal Form : |
Unlimited Liability Company |
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Line of Business : |
Subject offering multiple denim styles and a full fashion collection,
Buffalo’s clothing and accessories are made for fashion savvy men and women
aged 18-34, who are fashion innovators seeking effortless style. |
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No. of Employees : |
900+ |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Canada |
A1 |
A1 |
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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 |
CANADA - ECONOMIC OVERVIEW
As a high-tech industrial
society in the trillion-dollar class, Canada resembles the US in its
market-oriented economic system, pattern of production, and high living standards.
Since World War II, the impressive growth of the manufacturing, mining, and
service sectors has transformed the nation from a largely rural economy into
one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement
(FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes
Mexico) touched off a dramatic increase in trade and economic integration with
the US, its principal trading partner. Canada enjoys a substantial trade
surplus with the US, which absorbs about three-fourths of Canadian merchandise
exports each year. Canada is the US's largest foreign supplier of energy,
including oil, gas, uranium, and electric power. Given its abundant natural
resources, highly skilled labor force, and modern capital plant, Canada enjoyed
solid economic growth from 1993 through 2007. Buffeted by the global economic
crisis, the economy dropped into a sharp recession in the final months of 2008,
and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus.
Canada's major banks, however, emerged from the financial crisis of 2008-09
among the strongest in the world, owing to the financial sector's tradition of
conservative lending practices and strong capitalization. Canada achieved
marginal growth in 2010-13 and plans to balance the budget by 2015. In
addition, the country's petroleum sector is rapidly expanding, because
Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada
now ranks third in the world in proved oil reserves behind Saudi Arabia and
Venezuela.
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Source
: CIA |
Company name: BUFFALO INTERNATIONAL ULC
Address: 400 Rue Sauve Ouest, Montreal,
Quebec H3L 1Z8 - Canada
Telephone: +1
514-388-3551
Fax: +1 514-388-1972
Website: www.buffalojeans.com
Corporate ID#: AB-2017244977
State: Alberta
Judicial form: Unlimited Liability Company
Date incorporated: 01-01-2012
Stock: -
Value: -
Name of manager: Gilbert
BITTON
History:
Business is issued from the
merger of:
SLIDE HOLDINGS INC
3559513 CANADA INC
4183517 CANADA INC
SANDENAT HOLDINGS INC
3559505 CANADA INC
3559521 CANADA INC
3915018 CANADA INC
BUFFALO INTERNATIONAL INC
PLACEMENTS BITTON INC
BUFFALO INC
ALDAX HOLDINGS INC
6144195 CANADA INC
On 01-17-2013, BUFFALO
TRADEMARKS HOLDING ULC merged into BUFFALO INTERNATIONAL ULC
BUFFALO INTERNATIONAL ULC was founded on 01-01-2012 as a Federal Corporation
under ID# 8027463 and continued as an Alberta Corporation, incorporated on
01-17-2013
The business was initiated
in 1985.
Business:
From humble beginnings, the Buffalo David Bitton brand has always been a
family affair. Founded in Montreal more than 20 years ago, the Buffalo brand is
a leader in the denim industry.
By offering multiple denim styles and a full fashion collection, Buffalo’s
clothing and accessories are made for fashion savvy men and women aged 18-34,
who are fashion innovators seeking effortless style. The collections are as
unique as the individuals that wear them.
Buffalo David Bitton is an iconic lifestyle brand that translates across
international boundaries.
Through the years the brand has continued to evolve into the denim
empire it is today, with stores spanning 18 countries and 3000 locations
worldwide.
The Company sells also to Hudson Bay company, Bloomingdale’s, Macy’s,
Dillard’s and Lord & Taylor.
In February 2013, Iconix Brand Group, Inc. acquired control of the
Buffalo David Bitton brand in an effort to expand into higher-end brands.
Iconix paid Buffalo International ULC CAD76.5 million in cash for a 51%
stake in the brand.
Staff: 900+
Operations & branches:
At the headquarters, we
find the corporate headquarters, on lease.
Shareholders:
1st shareholder:
8383332 CANADA INC.
400 Rue Sauve Ouest, Montreal, Quebec H3L 1Z8
2nd shareholder:
8383286 CANADA INC.
400 Rue Sauve Ouest, Montreal, Quebec H3L 1Z8
These are 2 investment
companies owned by the BITTON family.
Management:
Gilbert BITTON, President, Director and CEO.
Other Directors include Charles BITTON and David BITTON
Gabriel BITTON is Secretary
Michel BITTON is Treasurer
Subsidiaries
And partnership:
BUFFALO DE FRANCE CORP.
Incorporated in California on April 8, 1993
ID# C1855605
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a financial
assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
However, sales estimate for
year 2013 is in the range of CAD 230,000,000=
(CAD 220,000,000 in 2011)
The business is profitable.
Banks: Banque de Montreal
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
Trade references:
Date reported: December 2014
High credit: CAD 50,000+
Now owing: 0
Past due: 0
Last purchase: November 2014
Line of business: Office supply
Paying status: On terms
Date reported: December 2014
High credit: CAD 1,500,000+
Now owing: 0
Past due: 0
Last purchase: November 2014
Line of business: Payroll
Paying status: As agreed
Date reported: December 2014
High credit: CAD 600=
Now owing: 0
Past due: 0
Last purchase: November 2014
Line of business: Payroll
Paying status: As agreed
Domestic credit history:
National Credit Bureaus
gave a satisfying credit rating.
International credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains a
strong business.
The Company is in good
standing.
This means that all local and
federal taxes were paid on due date.
Last report was filed on
07-14-2014.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.59 |
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|
1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
: |
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.