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MIRA INFORM REPORT
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Report No. : |
484425 |
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Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
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Name : |
LAS
BLONDAS SA |
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Registered Office : |
Humboldt 1550, Piso 1, Oficina 113, CABA |
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Country : |
Argentina |
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Date of Incorporation : |
25.11.1998 |
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Legal Form : |
Anonymous society |
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Line of Business : |
Subject manufactures
apparel and accessories for women under the brand Rapsodia |
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No. of Employees : |
490 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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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Argentina |
B2 |
B2 |
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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 |
ARGENTINA - ECONOMIC
OVERVIEW
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. In 2016, the World Bank downgraded Argentina from a high-income to upper-middle-income economy, on par with Columbia.
A severe depression, growing public and external indebtedness, and an unprecedented bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - at the time the largest ever - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines below the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in 2007, with understating inflation data.
Cristina FERNANDEZ DE KIRCHNER succeeded her husband as president in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy in 2010 rebounded strongly from the 2009 recession, but slowed in late 2011 even as the government continued to rely on expansionary fiscal and monetary policies, which kept inflation in the double digits.
In order to deal with these problems, the government expanded state intervention in the economy: it nationalized the oil company YPF from Spain's Repsol, expanded measures to restrict imports, and further tightened currency controls in an effort to bolster foreign reserves and stem capital flight. Between 2011 and 2013, Central Bank foreign reserves dropped $21.3 billion from a high of $52.7 billion. In July 2014, Argentina and China agreed on an $11 billion currency swap; the Argentine Central Bank has received the equivalent of $3.2 billion in Chinese yuan, which it counts as international reserves.
With the election of President Mauricio MACRI in November 2015, Argentina began a historic political and economic transformation, as his administration took steps to liberalize the Argentine economy, lifting capital controls, floating the peso, removing export controls on some commodities, cutting some energy subsidies, and reforming the country’s official statistics. Argentina negotiated debt payments with holdout bond creditors and returned to international capital markets in April 2016. In September 2016, Argentina completed its first IMF Article IV Consultation since 2006.
After years of international isolation, Argentina has taken on several international leadership roles in 2017, including hosting the World Economic Forum on Latin America and the World Trade Organization Ministerial Conference, and is set to assume the presidency of the G-20 in 2018.
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Source : CIA |
STATUTORY
INFORMATION
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Legal
Name: |
LAS
BLONDAS SA |
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Trade
Name: |
Rapsodia |
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CUIT: |
30-70263789-5 |
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Date
Created: |
1998 |
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Date
Incorporated: |
25-11-1998 |
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Legal
Address: |
Humboldt 1550, Piso 1, Oficina 113, CABA,
Argentina |
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Operative
Address: |
Rodriguez Martin 4690, Victoria (1644),
Buenos Aires, Argentina |
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Telephone:
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+54-1147149300 |
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Fax: |
+54
1147149339 |
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Legal
Form: |
Anonymous society |
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Email: |
contacto@rapsodiastore.com.ar |
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Registered
in: |
Argentina |
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Website:
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www.rapsodia.com.ar |
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Contact: |
Francisco de Narváez Steuer |
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Staff:
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490 |
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Activity: |
477190
- RETAIL SALES AND GARMENT ACCESSORIES N.C.P. Knit
outerwear mills |
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BANKS
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According
to Argentinian Central Bank, the company maintains credit lines with the
following banks: |
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BANK |
AMOUNT IN AR$ |
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BANCO DE GALICIA Y BUENOS AIRES S.A. |
94224 |
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INDUSTRIAL AND COMMERCIAL
BANK OF CHINA |
62487 |
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BANCO MACRO S.A. |
16584 |
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BANCO SUPERVIELLE S.A. |
10597 |
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BANCO DE LA PROVINCIA DE BUENOS AIRES |
28173 |
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BANCO COMAFI SOCIEDAD
ANONIMA |
7558 |
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BANCO CMF S.A. |
6486 |
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BANCO COLUMBIA S.A. |
2559 |
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BANCO DE LA PAMPA S.E.M. |
2005 |
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F.F. COMAFI LEASING PYMES XI |
449 |
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BANCO ITAU ARGENTINA S.A. |
148 |
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According to the classification of banking
relations of Argentina, CHECKS
REJECTED IN LEGAL ACCOUNTS 79677555 11/9/2017 Amount:
AR $ 108,596.36 REASON:
NO FUNDS Do
not register payment 11/22/2017 |
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HISTORY
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LAS
BLONDAS SA was founded in 1998. |
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PRINCIPAL
ACTIVITY
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Las
Blondas S.A. manufactures apparel and accessories for women under the brand
Rapsodia. |
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Products/Services
description: |
Products: Sweaters
and Sweaters Shirts
& Tops Leather Denim Skirts Pants T-shirts Sacks
and Camperas Shorts Dresses Intimates |
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Brands: |
RAPSODIA |
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Sales
are: |
Retail |
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Clients: |
MODA RAPSODIA, S.A. DE C.V. Mexico MODA RAPSODIA COLOMBIA SOCIEDAD POR
ACCIONES SIMPLIFICADA Colombia Moda Rapsodia Paraguay Sa Paraguay |
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Suppliers: |
Ci Expofaro SA Colombia Altiknits Confecciones S.A. Bolivia ROBLES
SA Paraguay |
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Operations
area: |
National
and International |
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The
company imports from |
Colombia, Bolivia, Paraguay and India |
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The
company exports to |
Colombia,
Paraguay and Mexico |
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The
subject employs |
490
employees |
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Payments:
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Slow
but correct |
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LOCATION
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Headquarters
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Martín Rodríguez 4690 Victoria, Buenos Aires, 1644 Argentina |
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Branches: |
The company has branches in CABA, Buenos
Aires, Chaco, Santa Fe, Cordoba, Chubut, Mendoza, Neuquen, Salta, San Juan,
San Luis, Tucuman, Tierra del Fuego and Jujuy: ABASTO
SHOPPING Av.
Corrientes 3201 Tel:
4959-3523 ALTO PALERMO Av. Santa Fe 3251 Tel: 5777-8111 CAŃITAS Andrés Arguibel 2899 Tel: 4772-2716 DEVOTO
SHOPPING José
Pedro Varela 4866 Tel: 4649-8076 DISTRITO ARCOS Paraguay 4979 DOT BAIRES SHOPPING Nicolás Vedia 3626 Tel: 5777-9738 EL SOLAR DE LA ABADÍA Arce al 900 Tel: 4778-5110 GALERÍAS PACÍFICO Florida 737 Tel: 4312-9234 PALERMO VIEJO Honduras 4872/74 Tel: 4831-6333 ALCORTA SHOPPING Jerónimo Salguero 3172 Tel: 4804-0084 PATIO BULLRICH Posadas 1245 Tel: 4814-7458 RECOLETA MALL Vicente Lopez 2050 Tel: 4807-1858 VILLA CRESPO Aguirre 729 Tel:
5197-5164 SHOPPING
ANNUAR JUJUY Dir.
Belgrano 501 Tel: (038) 8423-3115 SAN LUIS SHOPPING Julio Argentino Roca 260, Local 93 Tel: (266) 442-5416 PORTAL TUCUMÁN Av. Fermín Cariola 42, Local:1139 Tel: (0381) 435-9530 PASEO DEL FUEGO Perito moreno 1460 Tel: (02901) 442-644 ALTO ROSARIO SHOPPING Junín 501 Tel: (0341) 410-6684 LA RIBERA SANTA FE Dique 1 - Puerto Santa Fé Tel: (0342) 483-1236 PORTAL ROSARIO Nansen 323, Rosario Tel: (0341) 455-7111 ROSARIO CENTRO Paraguay 825 Tel: (0341) 421-2949 ESPACIO SAN JUAN SHOPPING Av. Jose Ignacio de La Roza Oeste 806 Tel: (0264) 423-1219 ALTO NOA SHOPPING Bicentenario de La Batalla 702 Tel: (0387) 495-3044 ALTO COMAHUE Ruta 7 y Dr. Ramón Tel: (0299) 434-0305 PORTAL PATAGONIA Juan Julián Lastra 2400 Tel: (0299) 446-9376 MENDOZA PLAZA SHOPPING Av. Acceso Este 3280 Tel: (0261) 426-5691 PALMARES OPEN MALL Ruta Panamericana 2650, Godoy Cruz Tel: (0261) 413-9020 ALTO AVELLANEDA Güemes 897 Tel: 4204-9831 LAS PALMAS DEL PILAR Las Magnolias 754 Tel: (0230) 447-4955 NORDELTA Av. De los Lagos 7010 Tel: 4871-4233 PLAZA OESTE SHOPPING Av. Juan Manuel de Rosas 658 Tel: 4483-5278 PORTAL ESCOBAR SHOPPING Ruta prov. 25 nş 1710, Escobar Tel: (348) 442-3916 (348) 442-7170 QUILMES FACTORY Av. Calchaquí 3950 (Quilmes oeste), Local
1036 Tel: 4200-9781 / 4250-3856 / 4250-3977 SAN ISIDRO Diego Carman 391 Tel: 4700-1860 SHOPPING SOLEIL Bernardo de Irigoyen 2647 Tel: 6090-2423 / 6090-2418 TERRAZAS DE MAYO Av. Presidente Illia 3770, Malvinas
Argentinas, Local 66 Tel: 6768-6859 TORTUGAS OPEN MALL Constituyentes y Panamericana Tel:
(03327) 424-329 UNICENTER
SHOPPING Av.
Paraná 3745 Tel: 4717-2472 CÓRDOBA VILLA CABRERA José A. de Goyeche 2851 Tel: (0351) 420-5041/5102 PASEO DE LA RIBERA Jaime Gil 15, Río Cuarto Tel:
(0358) 465-5825 / (0358) 462-5880 / (0358) 463-3526 PATIO
OLMOS SHOPPING Av.
V. Sarfield 361 Tel: (0351) 570-4201 PASEO JOCKEY Bv. Elías Yofre 1050 Tel:
(351) 550-4253 PORTAL
TRELEW Josiah
Williams 209 Tel: (0280) 444-3594 SARMIENTO SHOPPING MALL Av. Sarmiento 1999, Resistencia, Chaco Tel: (0362) 497-7361 BAHÍA BLANCA PLAZA SHOPPING Sarmiento 2153 Tel: (0291) 455-0227 / 455-0226 PASAJE RODRIGO Calle 50 – 488, La Plata Tel: (0221) 410-0435 PASEO ALDREY Sarmiento 2685, Mar del Plata, Local 117 Tel: (0223) 451-6586 / 451-6957 SHOPPING LOS GALLEGOS Rivadavia 3050, Mar del Plata Tel:
(0223) 491-2309 TANDIL General
Pinto 913 Tel:
(249) 438-8125 / 422-0361 / 438-7791 CITY
BELL Diagonal
3 Jorge Bell 153 Tel:
(0221) 472-1162 |
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Related
Companies: |
Rapsodia
can also be found in Mexico, Colombia, Chile, Uruguay and Paraguay. MODA RAPSODIA, S.A. DE C.V. Mexico MODA RAPSODIA COLOMBIA SOCIEDAD POR
ACCIONES SIMPLIFICADA Colombia Moda Rapsodia Paraguay Sa Paraguay Rapsodia
collaborates with the following foundations: Foundation
Grano de Mostaza Foundation
Los Tilos Foundation
Cedemil Foundation
Mediapila Hilando Sueńos La Casa Ronald Mc Donald Jóvenes por Más y Mejor Trabajo Foundation
Conín |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed
at the stock exchange: |
NO |
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Capital: |
ARS$
$ 301,181,000 |
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Shareholders: |
This
is a private company. Major holders are Sol Acuńa, Josefina Helguera and
Francisco de Narváez |
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Management:
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President: Francisco de Narváez Steuer Vice President: Josefina Helguera Regular Directors: María Jazmín de Narváez Fecchino Fernado Minaudo Deputy Director: Diego Zaffore. |
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FINANCIAL
INFORMATION
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This is a private company which does not
make its financial figures public. The following information has been
provided by outside sources: |
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AR$
2016 |
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Revenue |
100 000 000 |
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Exports |
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2017 |
284.083 |
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2016 |
544.852 |
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2015 |
249.806 |
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2014 |
1.184.999 |
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2013 |
2.006.409 |
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2012 |
4.685.626 |
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LEGAL
FILINGS
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There
are not any legal connected to the subject. |
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LAS
BLONDAS S.A. Communicate
that by general assembly. Ordinary and extraordinary of 03/13/17 resolved to
increase its capital stock taking it from $ 2,438,600 to $ 301,181,000 by capitalizing
a contribution of $ 298,742,400. Consequently he modified the art. 4 of the
bylaws that read: "The share capital is set at the sum of $ 301,181,000,
represented by 301,181,000 book-entry shares of $ 1 par value each and
entitled to one vote per share". Authorized according to private
instrument assembly dated 03/13/2017 Celina Abbondati - T °: 69 F °: 776
C.P.A.C.F. and.
04/09/2017 N ° 64275/17 v.
04/09/2017 |
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SUMMARY
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Founded
in 1998, Las Blondas S.A. is a large organization in the knit outerwear mills
industry located in Victoria, Argentina. It has approximately 490 full-time
employees and generates an estimated 20M AR$ in annual revenue. The
company mainly imports from Colombia, Bolivia, Paraguay and India, operating
within national and international markets. This
is an ACTIVE company incorporated in ARGENTINA since 1998. The
company shows 1 REJECTED check due to lack of funds. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Slow
but correct |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Daniela |
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POSITION |
Assistant |
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COMMENTS |
She
confirmed legal name, CUIT, address, email, website and directors. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.38 |
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1 |
INR 86.02 |
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Euro |
1 |
INR 76.50 |
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ARS |
1 |
INR 3.40 |
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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VIV |
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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.