|
Report No. : |
324247 |
|
Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BUCHERER AG |
|
|
|
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Registered Office : |
Langensandstrasse 27, 6005 Luzern/LU, Switzerland/CH |
|
|
|
|
Country : |
Switzerland
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
1888 |
|
|
|
|
Com. Reg. No.: |
100.3.026.034-2 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
The company is the leading Swiss Retailer for Jewelry and
Watches. |
|
|
|
|
No. of Employees : |
1,000-1,999 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 responded to 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 hurt Switzerland's long history of bank secrecy.
|
Source
: CIA |
BUCHERER AG
Langensandstrasse
27
6005 Luzern/LU
Switzerland/CH
Telephone: 041
3697000
Fax: 041
3697778
Web
site: http://www.bucherer.com
E-mail: luzern@bucherer.com
WIN
Worldbox No.: CH0000021037
VAT-No.: CHE-116.273.573 MWST
UID-No.: CHE109612210
Established: 1888
History: 1888: Established from Carl F. Bucherer
Line
of Business: Financial services,
Retail stores, Consumer goods manufacturing, Watch technology
Industry
Division: Services, Retail trade,
Manufacturing
Industry-code (NACE): 6420 Activities of holding companies
4777 Retail sale of watches and jewellery in
specialised stores
3212 Manufacture of jewellery and related
articles
2652 Manufacture of watches and clocks
Import/Export: Import, Export
Banks: unknown
Coverage: Group
Figures: approximately
Employees: 1,000-1,999
Sales: CHF 1-2 Bil
The company is the leading Swiss retailer for jewelry and watches. The whole group has several sales offices in Switzerland, Austria and Germany. Brands: Rolex, Carl F. Bucherer, Chopard, Piaget, IWC, Audemars Piguet, Girard-Perregaux, TAG Heuer, Tudor, Baume & Mercier, Longines, Rado and Gucci.
Real
Estate: The company owns
buildings.
Company
No: 100.3.026.034-2
UID-No.: CHE109612210
Legal
form: Company limited by
shares
Registration: 14.06.2002
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Luzern
History: Date of Statutes:
01.10.2010
Date of
Incorporation Statutes: 13.06.2002
Entry Deleted Name
14.06.2002 Bucherer
AG
14.06.2002 Bucherer
Ltd (Name translated)
14.06.2002 Bucherer
SA (Name translated)
Entry Deleted Legal domicile
14.06.2002 Luzern,
Switzerland
Entry Deleted Address
14.06.2002 Langensandstrasse
27, 6005 Luzern/LU, Switzerland/CH
Entry Deleted Capital
14.06.2002 Share
Capital CHF 18,000,000, paidup CHF 18,000,000
Entry Deleted Capital Structure
14.06.2002 18,000
Registered shares of CHF 1,000.--
Title Name
President,
Chief Executive Jörg G. Bucherer
Citizen:
Basel, Switzerland
Residential
address: Meggen, Switzerland
single
signature
Registered
since: 14.06.2002
Director Dr. Marcel
Braun
Citizen:
Münchwilen TG, Switzerland
Residential
address: Uitikon , Switzerland
joint
signature of two
Registered
since: 17.01.2011
Director Adelbert
Bütler
Citizen:
Ermensee, Auw, Switzerland
Residential
address: 6294 Ermensee/LU, Switzerland
joint
signature of two
Registered
since: 16.11.2009
Director Dr. Urs
Mühlebach
Citizen:
Sempach, Tegerfelden, Switzerland
Residential
address: Sempach, Switzerland
joint
signature of two
Registered
since: 25.11.2013
Title Name
Chairman
of the direction Guido Zumbühl
Citizen:
Oberdorf NW, Switzerland
Residential
address: Walchwil, Switzerland
joint
signature of two
Registered
since: 14.06.2002
Member
of the direction Tanja
Fruithof
Citizen:
Winterthur, Henggart, Switzerland
Residential
address: 8703 Erlenbach/ZH, Switzerland
joint
signature of two
Registered
since: 01.09.2009
Member
of the direction Josef
Williner
Citizen:
Embd, Switzerland
Residential
address: Hochdorf/LU, Switzerland
joint
signature of two
Registered
since: 14.06.2005
Director Jörg
Baumann
Citizen:
Wassen, Switzerland
Residential
address: 6048 Horw/LU, Switzerland
joint
signature of two
Registered
since: 01.09.2009
Director Roland
Bühler
Citizen:
Sigriswil, Switzerland
Residential
address: 6000 Luzern/LU, Switzerland
joint
signature of two
Registered
since: 26.11.2010
Director Kurt
Christen
Citizen:
Luzern, Wolfenschiessen, Switzerland
Residential
address: Ebikon/LU, Switzerland
joint
signature of two
Registered
since: 14.06.2002
Director Urs
Kissling
Citizen:
Kesteholz, Wolfwil, Switzerland
Residential
address: Kestenholz, Switzerland
joint
signature of two
Registered
since: 18.01.2005
Director Sascha
Daniel Moeri
Citizen:
Hermrigen, Switzerland
Residential
address: Lachen, Switzerland
joint
signature of two
Registered
since: 22.05.2014
Director Ivo Scala
Citizen:
Luzern, Switzerland
Residential
address: Ennetbürgen, Switzerland
joint
signature of two
Registered
since: 20.06.2013
Director Hans Peter
Schraner
Citizen:
Buchrain, Switzerland
Residential
address: Engelberg, Switzerland
joint
signature of two
Registered
since: 07.12.2012
Director Oskar Steffen
Citizen:
Wolhusen, Switzerland
Residential
address: Meggen, Switzerland
joint
signature of two
Registered
since: 20.06.2013
Member
with signing authority Stephan Ulrich
Citizen:
Küssnacht SZ, Switzerland
Residential
address: Affoltern am Albis/ZH, Switzerland
joint
signature of two
Registered
since: 07.07.2010
Member
with procuration Kurt Walter
Allemann
Citizen:
Welschenrohr, Switzerland
Residential
address: Stansstad, Switzerland
joint
power of attorney of two
Registered
since: 22.05.2014
Member
with procuration Markus
Amstutz
Citizen:
Silenen, Switzerland
Residential
address: Stans, Switzerland
joint
power of attorney of two
Registered
since: 17.04.2009
Member
with procuration Christoph
Beusch
Citizen:
Grabs, Switzerland
Residential
address: Zürich, Switzerland
joint
power of attorney of two
Registered
since: 29.05.2013
Member
with procuration Enzo Gemperli
Citizen:
Neckertal, Luzern, Switzerland
Residential
address: Adligenswil, Switzerland
joint
power of attorney of two
Registered
since: 24.01.2003
Member
with procuration Fridolin
Glarus Süd
Citizen:
Schwanden, Switzerland
Residential
address: Flims, Switzerland
joint
power of attorney of two
Registered
since: 25.04.2007
Member
with procuration Andreas Haag
Citizen:
Warth-Weiningen, Switzerland
Residential
address: St. Gallen, Switzerland
joint
power of attorney of two
Registered
since: 13.08.2012
Member
with procuration Marinette
Haldemann
Citizen:
Eggiwil, Switzerland
Residential
address: Stansstad, Switzerland
joint
power of attorney of two
Registered
since: 22.05.2014
Member
with procuration Martin Husi
Citizen:
Wangen bei Olten, Switzerland
Residential
address: Celerina/Schlarigna, Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Member
with procuration Claude Jutzi
Citizen:
Lausanne, Switzerland
Residential
address: Lausanne/VD, Switzerland
joint
power of attorney of two
Registered
since: 01.03.2006
Member
with procuration Hans Kiener
Citizen:
Emmen, Switzerland
Residential
address: Emmen/LU, Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Member
with procuration Zazil Kugler
Citizen:
Sursee, Switzerland
Residential
address: Buttisholz, Switzerland
joint
power of attorney of two
Registered
since: 23.01.2015
Member
with procuration Benno Küng
Citizen:
Gebenstorf, Switzerland
Residential
address: 6000 Luzern/LU, Switzerland
joint
power of attorney of two
Registered
since: 26.11.2010
Member
with procuration Josef Beat
Lauber
Citizen:
Rüti, Zürich, Buchrain, Switzerland
Residential
address: Davos/GR, Switzerland
joint
power of attorney of two
Registered
since: 25.04.2007
Member
with procuration Laurent
Lecamp
Citizen:
France
Residential
address: Versoix, Switzerland
joint
power of attorney of two
Registered
since: 23.01.2015
Member
with procuration Ted Mate
Citizen:
United States of America
Residential
address: Zermatt/VS, Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Member
with procuration Thierry
Marcel Paroz
Citizen:
Saicourt, Switzerland
Residential
address: Orpund, Switzerland
joint
power of attorney of two
Registered
since: 22.05.2014
Member
with procuration Stefan
Portmann
Citizen:
Luzern, Switzerland
Residential
address: Grenchen, Switzerland
joint
power of attorney of two
Registered
since: 22.05.2014
Member
with procuration Franz
Reichholf
Citizen:
Austria
Residential
address: Lugano, Switzerland
joint
power of attorney of two
Registered
since: 16.08.2007
Member
with procuration Anisia
Reinhard
Citizen: Eriswil, Switzerland
Residential
address: Luzern, Switzerland
joint
power of attorney of two
Registered
since: 29.05.2013
Member
with procuration Roberto
Ritschel
Citizen:
Locarno, Switzerland
Residential
address: Locarno/TI, Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Member
with procuration Jürg Straub
Citizen:
Matten bei Interlaken, Switzerland
Residential
address: Matten bei Interlaken/BE, Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Member
with procuration Benito Torres
Citizen:
Kaisten, Switzerland
Residential
address: Root, Switzerland
joint
power of attorney of two
Registered
since: 23.01.2015
Member
with procuration Daniel
Uebelhart
Citizen:
Welschenrohr, Switzerland
Residential
address: Plateau de Diesse, Switzerland
joint
power of attorney of two
Registered
since: 22.05.2014
Member
with procuration Roger Patrick
Vetter
Citizen:
Luzern, Switzerland
Residential
address: Hergiswil/NW, Switzerland
joint
power of attorney of two
Registered
since: 04.05.2012
Member
with procuration Urs von Arx
Citizen:
Niederbuchsiten, Switzerland
Residential
address: Kaiseraugst, Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Member
with procuration Peter von
Gunten
Citizen:
Sigriswil, Switzerland
Residential
address: Hilterfingen, Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Member
with procuration Andreas
Weishäupl
Citizen:
Sarnen, Switzerland
Residential
address: Sempach/LU, Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Member
with procuration Kathrin
Würtele
Citizen:
Mümliswil-Ramiswil, Switzerland
Residential
address: Herrliberg, Switzerland
joint
power of attorney of two
Registered
since: 08.07.2014
Member
with procuration Olivier
Zeindler
Citizen:
Bellikon, Switzerland
Residential
address: Rothenburg , Switzerland
joint
power of attorney of two
Registered
since: 14.06.2002
Title Name
Auditor KPMG AG
Residential
address: Luzern, Switzerland
Id:
CHE-253.502.577
Registered
since: 14.06.2002
Title Name
Chief
Executive Officer Guido
Zumbühl
Chief
Financial Officer Hans
Peter Schraner
Chief
Marketing Officer, Chief Public Realtions Officer Jörg Baumann
Chief
Sales Officer Urs
Kissling
Chief
Production Officer Sascha
Daniel Moeri
Chief
Human Resources Officer Kurt Christen
Chief
Business Segment Officer Roland Bühler
Chief
Business Segment Officer Oskar Steffen
Name: Bucherer Holding AG
City/Country: Luzern/LU, Switzerland/CH
Consolidation: consolidated (Segment)
Industry: Trade/Industry
Fiscal year end: 31.12.2013 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Remarks: about about about about about
Operating revenue 1,010,000.0 1,005,000.0 780,000.0 600,000.0 500,000.0
Capital 18,000.0 18,000.0 18,000.0 18,000.0 18,000.0
Employees at year end 1,450 1,400 1,300 1,200 1,100
No.
of Owner/-s: 1
Owner: The company is
privately owned.
Class: 100%
Type: direct, Group-Level 1
Name: Bucherer Holding AG
City/Country: Luzern/LU, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 21.11.2013)
Class: 100%
Name: Anton Haban
Gesellschaft m.b.H.
City/Country: Wien, Austria/AT
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Barth AG, Uhren und
Juwelen
City/Country: Luzern/LU, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Bucherer Deutschland
GmbH
City/Country: Muenchen, Germany/DE
Interest: 100,00% voting right,
100,00% capital interest (since 1996)
Class: 100%
Name: Bucherer Handels AG
City/Country: Luzern/LU, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: BUCHERER HONG KONG
LIMITED
City/Country: Wanchai/Wanchai, Hong Kong/HK
Interest: 100,00% voting right,
100,00% capital interest (since 2001)
Class: 100%
Name: Carl F. Bucherer AG
City/Country: Luzern/LU, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Cavena AG
City/Country: Luzern/LU, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Interoptik AG
City/Country: Interlaken/BE, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 2011)
Class: 100%
Name: Juwelier Kurz AG
City/Country: Luzern/LU, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 1989)
Class: 100%
Name: L. Bader, Meyer-Bader
succ. SA
City/Country: Genève/GE, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 1998)
Class: 100%
Name: Swiss Lion AG
City/Country: Luzern/LU, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Control date Year No. Amount CHF Status
04.06.2014 2014 0 Legal
actions
31.12.2013 2013 0 Legal
actions
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal
actions
31.12.2008 2008 0 Legal
actions
31.12.2007 2007 0 Legal
actions
31.12.2006 2006 0 Legal
actions
31.12.2005 2005 0 Legal
actions
31.12.2004 2004 0 Legal
actions
Official bankruptcy reports:
No bankruptcy publications available on the
subject.
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.
The company is not listed in the
WorldCompliance database.
Payment experiences from pre-legal
collection cases:
No payment experiences from pre-legal
collection cases are available.
Payment experiences from collection cases:
No payment experiences from legal collection
cases are available.
Mode of payment / Business conduct:
There are no complaints about the mode of
payment and the business conduct.
Financial
Situation: The financial situation
is considered to be good.
Payment
experiences: Financial obligations are
paid very punctually.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint while
following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.