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MIRA INFORM REPORT
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Report No. : |
490537 |
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Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
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Name : |
LUCENT JEWELERS, INC. |
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Registered Office : |
1200
Avenue Of Americas, 5th Floor, New York, New York, 10036, USA |
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Country : |
United States |
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Date of Incorporation : |
25.03.1999 |
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Legal Form : |
Domestic Business
Corporation |
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Line of Business : |
Subject is a large-sized organization
in the jewelry and precious stone companies industry located in New York, NY. |
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No. of Employees : |
1,100 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal
Name: |
LUCENT JEWELERS, INC. |
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Trade
Name: |
LUCENT JEWELERS |
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ID: |
2360257 |
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Date
Created: |
1999 |
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Date
Incorporated: |
MARCH 25, 1999 |
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Legal Address: |
1200 Avenue Of Americas 5th Floor New York, New York, 10036 USA |
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Operative
Address: |
1200 Ave Of Americas New York, New York 10036 United States |
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Telephone:
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212-869-2820 800-807-2220 |
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Fax: |
212-869-8815 |
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Legal
Form: |
Domestic Business Corporation |
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Email: |
accounts@lucentusa.com |
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Registered
in: |
NEW YORK |
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Website:
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www.lucentusa.com |
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Contact: |
Hasmukh Savalia, Chief
Executive Officer Harry Savalia, President |
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Staff: |
1,100 |
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Activity: |
NAICS 1: Jewelry, Watch,
Precious Stone, and Precious Metal Merchant Wholesalers SIC 1: Diamonds (Gems) |
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BANKS
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The company does not make its banking data
public |
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HISTORY
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The company was founded in 1999 |
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PRINCIPAL
ACTIVITY
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Lucent Jewelers, Inc. is a large-sized organization in the jewelry and
precious stone companies industry located in New York, NY. |
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Products/Services description: |
Lucent Jewelers Inc is a fine jewelry production firm based in New
York City, USA. The company manufactures silver, gold, and diamond jewelry. PRODUCTS: Jewelry, Diamonds, Watches, Precious Stones, and Precious Metals |
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Brands: |
NA |
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Sales are: |
Wholesale and Retail |
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Clients: |
Designers, retail chain, ecommerce
websites and wholesalers |
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Suppliers: |
NA |
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Operations area: |
National |
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The subject
employs |
1,100 employees |
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Payments:
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Slow |
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LOCATION
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Headquarters
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1200 Ave Of Americas New York, New York 10036 United States |
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Branches: |
The company does not have
branches |
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Main
Competitors |
Martin Tauber Jewelry 48 W 46th St Fl 3 Donikyan Dicran Simon 27 W 47th St |
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Related
Companies: |
NA |
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a private company. The company does not
disclose information on shareholders. We could not confirm major holders. |
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Management: |
Hasmukh Savalia, Chief Executive Officer Harry Savalia, President Mark Grinfeld, Vice President Nilesh Savalia,
Vice President Kuntesh Desai, Vice President Sales Anand Kamdar, Accounts Manager Anandbhai Lucent, Chief Financial Officer Linda Stein, Executive Vice President Sales and
Merchandising Raj Rana, Senior Vice President |
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FINANCIAL
INFORMATION
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The company does not make its financial statements public. The
following information has been provided by private sources: |
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USD 2016 |
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Sales |
170,500,000 |
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Cash
flow |
Normal |
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LEGAL
FILINGS
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Trademarks |
COLORBLOOM ALL TYPE OF JEWELRY AND WATCHES Owned by: LUCENT JEWELERS, INC. Serial Number: 78460060 TRY A NEW FLAVOR diamonds and jewelry Owned by: LUCENT JEWELERS, INC. Serial Number: 78891227 I DO,I WILL FOREVER ALL TYPE OF JEWELRY AND DIAMONDS Owned by: LUCENT JEWELERS, INC. Serial Number: 78614230 THREE WISHES All types of gold, silver and diamond jewelry and
watches Owned by: LUCENT JEWELERS, INC. Serial Number: 78517596 COOLBLUE JEWELRY MADE WITH BLUE DIAMONDS Owned by: LUCENT JEWELERS, INC. Serial Number: 78497615 CAVA diamonds and jewelry Owned by: LUCENT JEWELERS, INC. Serial Number: 78891406 LOVEBLOOM JEWELRY Owned by: LUCENT JEWELERS, INC. Serial Number: 78434578 DIAMENS ALL TYPE OF DIAMONDS JEWELRY AND WATCHES Owned by: LUCENT JEWELERS, INC. Serial Number: 78517577 ONE LOVE ALL TYPE OF JEWELRY AND WATCHES Owned by: LUCENT JEWELERS, INC. Serial Number: 78548832 LJ rings, earrings, bracelets, necklaces and pendants
set with diamonds or other precious stones Owned by: LUCENT JEWELERS, INC. Serial Number: 76082291 NETRA ALL TYPE OF JEWELRY Owned by: LUCENT JEWELERS Serial Number: 78434617 MY FIRST BLUE DIAMOND loose diamonds and diamonds jewelry Owned by: LUCENT JEWELERS, INC. Serial Number: 78679004 OCHO Ankle bracelets; Bangles; Bracelets; Bronze jewelry;
Brooches; Cases for watches and clocks; Charms; Chokers; Clip earrings… Owned by: LUCENT JEWELERS, INC. Serial Number: 85044891 RED CHERRY ALL KINDS OF JEWELRY AND DIAMONDS Owned by: LUCENT JEWELERS, INC. Serial Number: 78785810 RED WINE ALL KINDS OF JEWELRY AND DIAMONDS Owned by: LUCENT JEWELERS, INC. Serial Number: 78785787 SAVALIA Ankle bracelets; Bangles; Bracelets; Brooches;
Chokers; Clip earrings; Clocks and watches; Cufflinks; Cut diamonds; Diamond… Owned by: LUCENT JEWELERS, INC. Serial Number: 85022016 |
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Cases |
No records found |
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Filling History |
Filing Date Name Type
Entity Name MAR 25, 1999 Actual LUCENT JEWELERS, INC. |
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UCC |
Debtor Names: LUCENT JEWELERS, INC. 580 FIFTH AVENUE STE 206, NEW
YORK, NY 10036, USA Secured Party Names: HSBC BANK USA, NATIONAL ASSOCIATIONONE HSBC
CENTER 29TH FL, BUFFALO, NY 14203, USA File no.: 200409095755416 File Date: 09/09/2004 Lapse Date: 09/09/2009 Filing Type: Financing
Statement File no.: 200905145445791 File Date: 05/14/2009 Lapse Date: 09/09/2014 Filing Type: Continuation File no.: 201406265677916 File Date: 06/26/2014 Lapse Date: 09/09/2019 Filing Type: Continuation Debtor Names: LUCENT JEWELERS, INC. 22 W. 48TH STREET, NEW YORK, NY
10036, USA Secured Party Names: COMMERCE BANK, N.A. 475 PARK AVENUE SOUTH, NEW
YORK, NY 10016, USA TD BANK, N.A. SUCCESSOR BY
MERGER TO COMMERCE BANK, N.A.475 PARK AVENUE SOUTH, NEW YORK, NY 10016, USA File no.: 200502160257038 File Date: 02/16/2005 Lapse Date: 02/16/2010 Filing Type: Financing
Statement File no.: 200912116112431 File Date: 12/11/2009 Lapse Date: 02/16/2015 Filing Type: Continuation File no.: 200912116113217 File Date: 12/11/2009 Lapse Date: 02/16/2015 Filing Type: Financing
Statement Amendment File no.: 201412186331505 File Date: 12/18/2014 Lapse Date: 02/ 16/2020 Filing Type: Continuation Debtor Names: LUCENT JEWELERS, INC. 1200 SIXTH AVENUE, 5TH FLOOR,
NEW YORK, NY 10036, USA Secured Party Names: CHOXI.COM,
INC. C/O KLESTADT WINTERS JURELLER SOUTHARD & STEVENS, LLP 200 WEST 41ST STREET, 17TH
FLOOR, NEW YORK, NY 10036, USA File no.: 201702150075566 File Date: 02/15/2017 Lapse Date: 02/15/2022 Filing Type: Financing
Statement |
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OFAC Sanctions List Search |
The company is not listed
in the OFAC list. |
SUMMARY
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Founded in 1999, Lucent Jewelers, Inc. is a large-sized
organization in the jewelry and precious stone companies industry located in
New York, NY. The company has 1,100 full-time employees and
generates an estimated USD 170,5 million in annual revenue. The company operates within national markets. This has been an ACTIVE company incorporated in NEW
YORK since 1999. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Slow |
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CASH
FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
NA |
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POSITION |
Operator |
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COMMENTS |
He confirmed legal name, trade
name, address and telephone. He asked the reason of the call and refused to
provide further information. He also refused to provide his
name. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.27 |
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1 |
INR 89.72 |
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Euro |
1 |
INR 79.52 |
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US Dollar |
1 |
INR 64.27 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.