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MIRA
INFORM REPORT
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Report No. : |
492137 |
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Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
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Name : |
L. L. BEAN, INC. |
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Registered Office : |
Po Box 3070 Lewiston, Me 04343 3070 |
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Country : |
United States |
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Date of Incorporation : |
1917 |
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Legal Form : |
Business corporation |
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Line of Business : |
Subject manufactures and markets apparel and outdoor equipment. |
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No. of Employees : |
9,300 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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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: |
L. L. BEAN, INC. |
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Trade Name: |
LL Bean |
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ID: |
19340021D |
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Date Created: |
1917 |
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Date
Incorporated: |
27 November 1934 |
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Legal Address: |
PO BOX 3070 LEWISTON, ME 04343 3070 |
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Operative
Address: |
15 Casco Street Freeport, ME 04033-0001 United States |
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Telephone: |
1.207.552.3051 – 207 5522000 |
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Fax: |
1.207.552.3051 |
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Legal Form: |
Business corporation |
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Email: |
The company does not have an email. |
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Registered in: |
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Website: |
www.llbean.com |
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Contact: |
Mr. Stephen Smith- Chief Executive Officer |
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Staff: |
9,300 |
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Activity: |
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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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L.L.Bean Inc. was founded in 1917
and is headquartered in Freeport, Maine. |
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Key
Develeopments: |
L.L.Bean Inc. Key
Developments L.L.Bean Set to
Open First Li Location At Smith Haven Mall Jun 14 17 L.L.Bean will open
its first store on Long Island next week at Smith Haven Mall in Lake Grove.
The 16,000-square-foot store will open on June 23 at 9 a.m. The store will
feature apparel and footwear, as\ well as hiking, fly-fishing, kayaking,
winter and camping gear. It will employ about 70 people. The grand opening celebration
will run through June 25. The three-day weekend event will include giveaways
and\ hands-on family activities. Also, customers will be able to take photos
with a large mobile version of L.L.Bean's first and most iconic product, the
L.L.Bean boot. L.L. Bean to Open
First Wisconsin Store At Corners in Brookfield Aug 10 16 L.L. Bean will open
its first Wisconsin store at The Corners in Brookfield, the Freeport. The new
store is on track to open in spring of 2017 and will occupy 15,000 square
feet at the emerging Brookfield retail destination. It will be the company's
30th retail store outside of Maine and employ roughly 100 people. The store
in Brookfield will feature an assortment of active and casual apparel and
footwear, as well as outdoor lifestyle gear including hiking, fly-fishing,
kayaking, and winter gear and camping products. The Corners is a
750,000-square-foot mixed-used development in Brookfield that will include a
high-end Von Maur department store, as well as restaurants, other retail, housing
and open spaces. |
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Parent Company: |
The company does not have a parent company. |
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PRINCIPAL ACTIVITY |
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L.L.Bean Inc. manufactures and markets
apparel and outdoor equipment. |
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Products/Services
description: |
The company offers
shirts, sweaters, pants, outerwear, sleepwear and robes, jeans, sweatshirts,
shorts, long underwear and base layers, swimwear, and blazers for men; and
outerwear, shirts, sweaters, sleepwear and robes, pants, fleece tops and
sweatshirts, jeans, skirts and dresses, underwear and long underwear,
blazers, shorts, and swimwear for women. It also provides clothes for girls,
boys, infants, and toddlers; school backpacks and outdoor gears for kids; and
shoes for men, women, girls, boys, infants, and toddlers. In addition, the company
offers outdoor gear products, such as camping gears, hiking and backpacking,
paddling, cycling, snowshoeing, cross-country skiing, sleds, snow toys, ice
skates, ski helmets and goggles, gaiters and winter accessories, electronics,
and car racks and gears. Further, it provides hunting apparel, gears, and
footwear; fishing apparel, gears, and kayaks and canoes; binoculars, scopes,
and range finders; and waders, dog supplies, electronics, knives and tools,
lighting products, and sunglasses; and luggage, including tote bags,
backpacks, lunch boxes and accessories, messenger bags, duffles and gear
bags, travel accessories, shoulder bags, briefcases, and waist packs.
Furthermore, the company offers indoor bedding, bath, home accessories,
Christmas wreaths and decorations, dog beds and supplies, indoor furniture,
fireplace and hearth, mats, outdoor accessories and furniture, and rugs; and
gifts. |
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Brands: |
L.L. BEAN OUTLET
L. L. BEAN
FREEPORT STUDIO - CANCELLED BRUNSWICK MANUFACTURING A DOUBLE L ADVERTISING L. L. BEAN, INC. F |
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Sales are: |
Wholesale and retail. |
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Clients: |
Retailers |
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Suppliers: |
CENTURY DISTRIBUTION SYSTEMS INC. (A India |
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Operations area:
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National and international |
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The company
imports from |
India China |
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The company
exports to |
Costa Rica |
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The subject
employs |
9,300 employees |
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Payments: |
Regular |
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LOCATION |
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Headquarters : |
15 Casco Street Freeport, ME 04033-0001 United States |
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Comments on
Address: |
The 200,000
square-foot flagship store is located in Freeport, Maine, on the original site
where L.L. opened his shop in 1917. Open 24 hours a day, 365 days a year, the
store draws close to 3 million visitors each year, with features that include
an indoor trout pond and a 3,500-gallon freshwater aquarium that replicates a
25-foot-long section of streambed. The seven-acre retail campus is also home
to L.L.Bean’s Hunting & Fishing Store, Bike, Boat & Ski Store, and
Home store. |
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Branches: |
43 Northport Dr Portland, Maine 04103-3637 United States 74 Market St Yonkers, New York 10710-7603 United States 8 Glen Rd Ste 29 West Lebanon, New Hampshire 03784-1646 United States |
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Related
Companies: |
No records found. |
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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 privately held company. We could not
confirm major shareholders. |
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Management: |
Mr. Stephen Smith, Chief Executive Officer Mr. Mark Fasold, Chief Financial Officer Mr. Ken Kacere, Senior Vice President and General
Manager of Retail Mr. Chris Wilson, Senior Vice President of Direct
Channel Mr. Zane Shatzer, General Manager of International
New Market Development |
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Clerk/Registered Agent GEORGE S. ISAACSON PO BOX 3070 LEWISTON, ME 04343 3070 |
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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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Revenue |
1.6Billion |
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Cash flow |
Normal |
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LEGAL FILINGS |
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PATENTS |
Supportive sole insert for a shoe Patent number: D446917 Type: Grant Filed: April 26, 2000 Date of Patent: August 28, 2001 Assignee: L. L. Bean, Inc. Inventor: Christopher W. Brown Supportive sole insert for a shoe Patent number: D471698 Type: Grant Filed: October 25, 2000 Date of Patent: March 18, 2003 Assignee: L. L. Bean, Inc. Inventor: Christopher W. Brown |
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GOVERNMENT
CONTRACTS |
NA |
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CASES |
Bondi v. L.L. Bean,
Inc. Filed: February 12,
2018 as 1:2018cv01101 Plaintiff: Victor
D. Bondi Defendant: L.L.
Bean, Inc. Cause Of Action:
Diversity-Breach of Contract Court: Seventh
Circuit › Illinois › Illinois Northern District Court Type: Contract ›
Other Contract LL Bean, Inc. v.
Drake Pub., Inc., 625 F. Supp. 1531 (D. Me. 1986) U.S. District Court
for the District of Maine - 625 F. Supp. 1531 (D. Me. 1986) January 16, 1986 625 F. Supp. 1531
(1986) L.L. BEAN, INC.,
Plaintiff, v. DRAKE PUBLISHING,
INC., Gloria Leonard, Louis Montesano, Nina Malkin, Linda Francischelli,
Kevin Goodman, Kenneth Kimmel, Larry Graver, Arnold Held, Bruce Jacobsen,
L.E. Goodman, Richard Crespo, Marty Puntus, Jerry Levine, Susan Ercolano,
Yamael Bonheur, and Joy Bonheur, Defendants. Civ. No. 84-0305 P. United States
District Court, D. Maine. January 16, 1986. *1532 George S.
Isaacson, Alfred C. Frawley, Brann & Isaacson, Lewiston, Me., David Wolf,
Wolf, Greenfield & Sacks, Boston, Mass., for plaintiff. *1533 Elliott L.
Epstein, Isaacson, Hark & Epstein, Lewiston, Me., Norman S. Beier,
Lawrence E. Abelman, Abelman, Frayne, Rezac & Schwab, New York City, for
defendants. Gator.com Corp.,
Plaintiff-appellant, v. L.l. Bean, Inc., Defendant-appellee, 341 F.3d 1072
(9th Cir. 2003) U.S. Court of
Appeals for the Ninth Circuit - 341 F.3d 1072 (9th Cir. 2003) Argued and
Submitted December 2, 2002 — San Francisco, California Filed September 2,
2003 Michael Traynor
(argued), San Francisco, California, Cooley Godward (appeared only), Reston,
Virginia, and Brian E. Mitchell, San Francisco, California, for the
plaintiff-appellant. Peter J. Brann,
Lewiston, Maine, for the defendant-appellee. Appeal from the
United States District Court for the Northern District of California;
Maria-Elena James, Magistrate Judge, Presiding. D.C.No. CV-01-01126-MEJ. Before Warren J.
FERGUSON, BRUNETTI, Melvin Brunetti, and A. Wallace TASHIMA, Circuit Judges. |
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TRADEMARKS |
L.L. BEAN FACTORY
STORE RETAIL STORE
SERVICES FOR DISCONTINUED FIRST QUALITY MEN'S AND WOMEN'S CLOTHING, SLIGHTLY
IRREGULAR CLOTHING AND UNUSED… Owned by: L. L.
BEAN, INC. Serial Number:
73810064 L.L. BEAN ON-LINE
PRODUCT GUIDE Computerized
on-line retail services in the field of outdoor sporting equipment and
apparel for men, women and children Owned by: L. L.
BEAN, INC. Serial Number:
75367525 L.L. BEAN CATALOG
QUICKSHOP Computerized,
on-line retail services in the field of outdoor sporting equipment and
apparel for men, women and children Owned by: L. L.
BEAN, INC. Serial Number:
75367526 L. L. BEAN OUTDOOR
ADVANTAGE PROGRAM credit card service Owned by: L. L.
BEAN, INC. Serial Number:
75091940 L.L. BEAN Tents, Tarpaulins,
Hammocks, Ropes, String Nets for Use in Canoe Hanging, Fishing Nets and
Textile Sacks for Storage Owned by: L. L.
BEAN, INC. Serial Number:
73437090 L.L. BEAN Aluminum Cookware,
Ice Cream Scoops, Sandwich Spreaders, Dish Racks, Utensil Trays, Towel Racks,
Wooden Canister Set, Bread… Owned by: L. L.
BEAN, INC. Serial Number:
73447254 L.L. BEAR stuffed toys Owned by: L. L.
BEAN, INC. Serial Number:
74294466 BEAN BOOTS BY L.L.
BEAN footwear Owned by: L. L.
BEAN, INC. Serial Number:
74441958 L.L. BEAN MAINE WARDEN'S PARKA PARKAS Owned by: L. L.
BEAN, INC. Serial Number:
73766155 L. L. BEAN SIGNATURE Men's and women's
apparel, namely, shirts, pants, jackets, belts, hats and footwear Owned by: L. L.
BEAN, INC. Serial Number:
77664162 L.L. BEAN Wrist Watches and
Pocket Watches Owned by: L. L.
BEAN, INC. Serial Number:
73313904 |
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RENEWAL HISTORY |
AMENDMENT 05/15/2015 Yes ANNUAL REPORT 03/07/2016 Yes ANNUAL REPORT 02/06/2017 Yes ANNUAL REPORT 02/07/2018 Yes |
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SUMMARY |
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L.L.Bean Inc. was founded in 1917 and is
headquartered in Freeport, Maine. L.L.Bean Inc. manufactures and markets apparel and
outdoor equipment. It employs 9,300 people and it has an annual revenue
of $ 1.6 Billion. The company imports from China and India and it
exports to Costa rica. It appears as ACTIVE in the records of Maine. |
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RISK INFORMATION |
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH
FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Paul |
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POSITION |
Operator |
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COMMENTS |
He confirmed name, address, staff number, CEO’s name
and estimated revenue for year 2016. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.91 |
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1 |
INR 90.31 |
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Euro |
1 |
INR 80.17 |
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USD |
1 |
INR 64.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
SYL |
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.