MIRA INFORM REPORT

Report No. :	489692
Report Date :	03.02.2018

IDENTIFICATION DETAILS

Name :	REVMAN INTERNATIONAL INC.
Registered Office :	251 Little Falls Drive, Wilmington, New Castle, De, 19808
Country :	United States
Date of Incorporation :	21.07.1988
Legal Form :	Corporation
Line of Business :	Subject engaged in provides home furnishings products.
No. of Employees :	160

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
United States	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

UNITED STATES - ECONOMIC OVERVIEW

The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.

In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.

Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.

The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.

Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.

The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.

Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.

In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.

In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.

In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.

Source : CIA

STATUTORY INFORMATION
Legal Name:	REVMAN INTERNATIONAL INC.
Trade Names:	REVMAN INTERNATIONAL INC.
ID:	2167264
Date Created:	1988
Date Incorporated:	7/21/1988
Legal Address:	251 LITTLE FALLS DRIVE, WILMINGTON, NEW CASTLE, DE, 19808, USA
Operative Address:	350 5TH AVE 70TH FLR NEW YORK, NEW YORK, 10118, USA
Telephone:	212-977-9700
Fax:	212-262-5152
Legal Form:	CORPORATION
Email:	-
Registered in:	DELAWARE
Website:	www.revman.com
Contact:	Richard J. Roman - Founder, Chief Executive Officer and President
Staff:	160
Activity:	NAICS 1: Curtain and Linen Mills NAICS 2: Curtain and Linen Mills SIC 1: Draperies, Plastic And Textile: From Purchased Materials SIC 2: Comforters And Quilts: Made From Purchased Materials
Banks:	BANK OF AMERICA
History:	The company was founded in 1988 and is based in New York, New York. Revman International, Inc. was formerly known as Revman Industries, Inc. and changed its name to Revman International, Inc. in September 2004.
Parent Company:	Revman International, Inc. operates as a subsidiary of: Kaltex North America, Inc. 350 5th Ave Ste 7100 New York, NY, USA
Key Developments:	Perry Ellis International, Inc. Enters into License Agreement with Revman International Inc. to Design and Distribute Original Penguin by Munsingwear Bedding and Bath Home Products in the United States and Canada Sep 6 16 Perry Ellis International, Inc. announced that it has entered into a license agreement with Revman International Inc. granting rights to design and distribute Original Penguin by Munsingwear® bedding and bath home products in the United States and Canada. The collection will include comforters, duvet covers, shams, decorative pillows, sheets, as well as bath and beach towels. The collection will mix the brand's rich athletic heritage with the wild world of safari, creating vintage sporting looks fit for the casual lifestyle. Distribution is planned in better department stores, home specialty shops and better websites with a planned launch at retail for Spring 2017. Original Penguin pays homage to its rich brand heritage, having been adored by countless icons for more than 60 years. A strong influence of humor, music and attention to detail can be seen in their products. The brand reworks their archive of mid-century classics with seasonal updates to reflect a modern lifestyle. Original Penguin has created significant social momentum from its philanthropic social campaigns, music festival sponsorships, and Original Tracks music series as well as being a top pick among celebrities and influencers.
PRINCIPAL ACTIVITY
	Revman International, Inc. provides home furnishings products.
Products/Services description:	It offers fashion products for bed and bath. The company markets products under its own label, as well as develops private label collections for retailers.
Brands:	Marimekko candice OLSON LAURA ASHLEY Eddie Bauer Home BETSEY JOHNSON ADRIENNE VITTADINI PERRY ELLIS ELLEN DEGENERES TRINA TURK MANOR HILL Nicole Miller CITY SCENE
Sales are:	Wholesale
Clients:	Retailers
Suppliers:	Manufacturas Kaltex S.A. De C.V. Jay Industrial Corporation Pac Fung Feather Co.Ltd Zhejiang Huihong Industry & Trade Co., Ltd. Sunvim Group Co Ltd I Oi Tex Industries Ltd Vara Home Fashion Shanghai Co.,ltd
Operations area:	National
The company imports from	MEXICO INDIA CHINA
The subject employs	160 employees
Payments:	Regular
LOCATION
Headquarters :	350 5TH AVE 70TH FLR NEW YORK, NEW YORK, 10118, USA
Comments on Address:	-
Branches:	Revman International Inc. (Branch Location) 2901 N Blackstock Rd Spartanburg, South Carolina 29301-5526 United States Revman International Inc. (Branch Location) 2901 N Blackstock Rd Spartanburg, South Carolina 29301-5526 United States
Related Companies:	No related companies were found.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	The company does not disclose information on shareholders. The following information has been obtained through private sources and could not be confirmed. Kaltex North America, Inc. 350 5th Ave Ste 7100 New York, NY, USA
Management:	Richard J. Roman - Founder, Chief Executive Officer and President Normand Savaria – Senior Vice President Rafael M Kalach – Chair Member
FINANCIAL INFORMATION
	The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016 / Estimated
Net Revenue	11 000 000
Cash flow	Normal
LEGAL FILINGS
PATENTS	No records found.
GOVERNMENT CONTRACTS	No records found.
CASES	Revman International Inc v. SEL Manufacturing Co Ltd Plaintiff: Revman International Inc Defendant: SEL Manufacturing Co Ltd Case Number: 7:2017cv01944 Filed: July 21, 2017 Court: South Carolina District Court Office: Spartanburg Office County: Spartanburg Presiding Judge: Bruce Howe Hendricks Nature of Suit: Other Contract Cause of Action: 28:1332 Jury Demanded By: Plaintiff Aspen Licensing International, Inc. v. Revman International, Inc. Plaintiff: Aspen Licensing International, Inc. Defendant: Revman International, Inc. Case Number: 9:2011cv80229 Filed: March 1, 2011 Court: Florida Southern District Court Office: West Palm Beach Office County: Palm Beach Referring Judge: Linnea R. Johnson Presiding Judge: Donald M. Middlebrooks Nature of Suit: Trademark Cause of Action: 15:1114 Jury Demanded By: None
TRADEMARKS	REVMAN INTERNATIONAL, INC BED LINENS, NAMELY, SHEETS, PILLOWCASES, PILLOW SHAMS, COMFORTERS, DUVET COVERS, BLANKETS, QUILTS, THROWS, BED SKIRTS, AND… Owned by: Revman International, Inc. Serial Number: 78607656 REVMAN INTERNATIONAL BED LINENS, NAMELY, SHEETS, PILLOWCASES, PILLOW SHAMS, COMFORTERS, DUVET COVERS, BLANKETS, QUILTS, THROWS, BED SKIRTS, AND… Owned by: Revman International, Inc. Serial Number: 78606197 COMPLETE BEDREADY2GO BY REVMAN BED LINENS, NAMELY, SHEETS, PILLOWCASES, PILLOW SHAMS, COMFORTERS, DUVET COVERS, BLANKETS, QUILTS, THROWS, BED SKIRTS, AND… Owned by: Revman International, Inc. Serial Number: 78607131 REVMAN (Based on Intent to Use) ceramic products-- namely, lotion dispensers, soap dishes, tooth brush holders and tumblers Owned by: Revman International, Inc. Serial Number: 76636979 CITY LOFT Bath mats Owned by: Revman International, Inc. Serial Number: 86202382 REVMAN BED LINENS, NAMELY, SHEETS, PILLOWCASES, PILLOW SHAMS, COMFORTERS, DUVET COVERS, BLANKETS, QUILTS, THROWS, BED SKIRTS, AND… Owned by: Revman International, Inc. Serial Number: 78614526 STONE COTTAGE BED LINENS, NAMELY, PILLOW SHAMS AND QUILTS Owned by: Revman International, Inc. Serial Number: 76978872
RENEWAL HISTORY	No records found.
UCC	No records found.
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
	Founded in 1988, Revman International Inc. is a mid-sized organization in the curtain and drapery manufacturers industry located in New York, NY. It has 160 full time employees and generates an estimated $11 million in annual estimated net revenue. The company operates nationally and internationally, mainly importing from Mexico, India and China. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Mark
POSITION	Operator
COMMENTS	He confirmed the name of the company, the address of the headquarters and location, the date of creation of the company, the number of employees and the name of the Chief Executive Officer.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.08
UK Pound	1	INR 91.34
Euro	1	INR 80.03
USD	1	INR 64.14

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.