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MIRA INFORM REPORT
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Report No. : |
516027 |
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Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
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Name : |
RICHLINE GROUP INC |
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Registered Office : |
1385 Broadway New York, New York, 10018 |
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Country : |
United States |
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Financials (as on) : |
2017 |
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Date of Incorporation : |
05.04.2007 |
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Legal Form : |
Corporation |
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Line of Business : |
Manufactures and distributes jewelry |
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No. of Employees : |
1900 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 $59,500. 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 more than 50% 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, 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 former 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 FY 2018, the direct costs of the wars will have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection and Affordable Care Act (ACA), 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 former 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%. The Fed ended its purchases during the summer of 2014, after the unemployment rate dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP. 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 continued low growth, the Fed opted to raise rates several times since then, and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the Tax Cuts and Jobs Act, which, among its various provisions, reduces the corporate tax rate from 35% to 21%; lowers the individual tax rate for those with the highest incomes from 39.6% to 37%, and by lesser percentages for those at lower income levels; changes many deductions and credits used to calculate taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do not obtain the minimum amount of health insurance required under the ACA. The new taxes took effect on 1 January 2018; the tax cut for corporations are permanent, but those for individuals are scheduled to expire after 2025. The Joint Committee on Taxation (JCT) under the Congressional Budget Office estimates that the new law will reduce tax revenues and increase the federal deficit by about $1.45 trillion over the 2018-2027 period. This amount would decline if economic growth were to exceed the JCT’s estimate.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
RICHLINE GROUP, INC. |
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Trade Names: |
RICHLINE GROUP, INC. |
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ID: |
4347124 |
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Date
Created: |
1982 |
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Date
Incorporated: |
5/4/2007 |
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Legal
Address: |
3411 SILVERSIDE ROAD TATNALL BUILDING STE 104, WILMINGTON,
NEW CASTLE, DE, 19810, USA |
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Operative
Address: |
1385 BROADWAY NEW YORK, NEW YORK, 10018, USA |
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Telephone:
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954-718-3200 |
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Fax: |
954-718-3206 |
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Legal
Form: |
CORPORATION |
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Email: |
webmaster@richlinegroup.com |
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Registered
in: |
DELAWARE |
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Website:
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www.richlinegroup.com |
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Contact: |
DENNIS ULRICH – Chief Executive Officer |
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Staff: |
1,900 |
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Activity: |
SIC Code:5094, Jewelry, Watches, Precious Stones,
and Precious Metals NAICS Code:423940, Jewelry, Watch, Precious Stone, and
Precious Metal Merchant Wholesalers |
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Banks: |
BANK OF AMERICA IBM CREDIT LLC KONICA MINOLTA BUSINESS SOLUTIONS U.S.A., INC. |
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History: |
The company was founded in 1982. Richline Group, Inc. was formerly known as Aurafin LLC and changed its name to Richline Group, Inc. in June 2007. |
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Parent Company: |
Richline Group, Inc. operates as a subsidiary of: Berkshire Hathaway Inc. 3555 Farnam Street Omaha, NE 68131 United States |
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Key Developments: |
Richline Digital
Presents at 14th Annual Internet Retailer Conference & Exhibition,
Jun-06-2018 01:45 PM May 29 18 Richline Digital Presents at 14th Annual Internet Retailer Conference & Exhibition, Jun-06-2018 01:45 PM. Venue: McCormick Place West, downtown Chicago, Chicago, United States. Speakers: Jon Azrielant, Director of Marketing. Richline Group,
Inc. Announces Executive Changes May 10 18 Richline Group is announcing the retirement of Dennis Ulrich after almost 11 years as CEO of the Berkshire Hathaway subsidiary. Dave Meleski, current President of the company, will assume the role of CEO. Dennis will be staying on for some time, to assist Dave in the transition and continue to support key areas of the business. Richline Digital
Presents at Catalyst Americas 2018 Conference, Apr-18-2018 11:30 AM Apr 14 18 Richline Digital Presents at Catalyst Americas 2018 Conference, Apr-18-2018 11:30 AM. Venue: San Diego Convention Center, San Diego, California, United States. Speakers: Jon Azrielant, Director of Marketing. |
PRINCIPAL
ACTIVITY
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Richline Group, Inc. manufactures and
distributes jewelry. |
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Products/Services description: |
It offers precious metals, pearls, findings, gemstones, raw materials, hand tools, equipment, displays, packaging products, beads, fashion earrings, and chains. The company provides an ear piercing system for use in jewelry and department stores, pharmacies, medical clinics, salons, and beauty supply stores. It markets its products to retailers, jewelry outlets, distribution channels, national retail jewelers, guild jewelers, department stores, television and electronic shopping networks, mass merchants, and wholesalers worldwide. |
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Brands: |
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Sales are: |
Wholesale |
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Clients: |
Exportadores Bolivianos Srl Distribuidora Liverpool SA De Cv Distribuidora De Metales Y Joyas S.A. de C.V. Arin Sa |
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Suppliers: |
DRL Manufacturing, S.A |
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Operations area: |
National and International |
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The company imports
from |
DOMINICAN REPUBLIC |
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The
company exports to |
BOLIVIA MEXICO PERU |
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The
subject employs |
1,900 employees |
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Payments:
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Regular |
LOCATION
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Headquarters
: |
1385 BROADWAY NEW YORK, NEW YORK, 10018, USA |
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Comments
on Address: |
- |
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Branches: |
49 Pearl St Attleboro, MA 02703, USA 6701 Nob Hill Rd Tamarac FL 33321 , USA 2501 W. Burbank Blvd., Suite 307 Burbank CA 91505, USA |
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Related Companies: |
Richline (Hong Kong) Ltd. Unit 611 6/F Harbour Centre Tower 1 1 Hok Cheung Street Hunghom, Kowloon Hong Kong Inverness France 20 Rue Des Fosses Montereau Fault Yonne France 77130 Richline South Africa (Proprietary) Ltd. South Africa Richline Italy S.R.L Italy Rio Grande, Inc. 7500 Blue Water Road NW Albuquerque, NM 87121, USA CANADA 75 Torbarrie Road Toronto, Ontario M3L 1G5, Canada |
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: |
The company does not disclose information on
shareholders. The following information has been provided by private sources
and could not be confirmed: Richline Group, Inc. operates as a subsidiary of: Berkshire Hathaway Inc. 3555 Farnam Street Omaha, NE 68131 United States |
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Management: |
Mr. Dennis Ulrich – Chief Executive Officer Mr. David Meleski - President Ramona Genao-Archibald - Executive Vice President of
Merchandising Lindsey Woodruff - Vice President of Marketing Mr. Michael Schwartz - Executive Vice President of
Sales |
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 2017 |
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Estimated Net Assets |
62.200.000 |
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Cash flow |
Normal |
LEGAL
FILINGS
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PATENTS |
FANCY COLOR SILVER CONTAINING ALLOYS Publication number: 20170002446 Abstract: The present invention is directed to a formulation of one or more low silver containing alloys (including those with silver content below 50 weight %, “w %”) that show one of the group of distinct pink, yellow and green colors and further demonstrate enhanced resistance to tarnish and other beneficial features described herein. Type: Application Filed: September 16, 2016 Publication date: January 5, 2017 Applicant: RICHLINE GROUP, INC. Inventor: Grigory RAYKHTSAUM JEWELRY ARTICLE WITH FORMED ILLUSION PLATE Publication number: 20140013800 Abstract: The present invention is directed to an ornament which gives the aesthetic appearance of a gemstone in a setting, but includes an illusion plate in a well so as to accentuate any material resting on the plate. Type: Application Filed: October 16, 2012 Publication date: January 16, 2014 Applicant: RICHLINE GROUP, INC. Inventors: Surasit SRIORATHAIKUL, Michael MILGROM Nut plate for pierced earrings Patent number: 8850674 Abstract: A novel pierced earring for pierced ears which includes a rear plate attached to the pin, the rear plate forming the nut and having a peripheral shape approximating that of the rear portion of the lobe of the ear to provide substantial bearing surface against the rear of the lobe. Type: Grant Filed: March 12, 2012 Date of Patent: October 7, 2014 Assignee: Richline Group, Inc. Inventors: Joel Schechter, Mossig Makhoulian |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
Sportbrain Holdings LLC v. Richline Group, Inc. Plaintiff: Sportbrain Holdings LLC Defendant: Richline Group, Inc. Case Number: 1:2017cv04557 Filed: June 18, 2017 Court: Illinois Northern District Court Office: Chicago Office County: Cook Presiding Judge: Sara L. Ellis Nature of Suit: Patent Cause of Action: 35:271 Jury Demanded By: Plaintiff Clean Water Action v. Richline Group, Inc. Plaintiff: Clean Water Action Defendant: Richline Group, Inc. Case Number: 1:2013cv12784 Filed: November 4, 2013 Court: Massachusetts District Court Office: Boston Office County: Suffolk Presiding Judge: William G. Young Nature of Suit: Environmental Matters Cause of Action: 33:1319 Jury Demanded By: None Richline Group, Inc. v. Tacori Enterprises Plaintiff: Richline Group, Inc. Defendant: Tacori Enterprises Case Number: 1:2013cv02163 Filed: April 2, 2013 Court: New York Southern District Court Office: Foley Square Office County: NewYork Presiding Judge: Richard J. Sullivan Nature of Suit: Copyright Cause of Action: 17:101 Copyright Infringement Jury Demanded By: Plaintiff |
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TRADEMARKS |
RICHLINE Jewelry Owned by: RICHLINE GROUP, INC. Serial Number: 77235046 RICHLINE GEM Jewelry Owned by: RICHLINE GROUP, INC. Serial Number: 85034101 EMOTION Gemstones; Jewelry Owned by: RICHLINE GROUP, INC. Serial Number: 77647521 RICHLINE GROUP Jewelry Owned by: RICHLINE GROUP, INC. Serial Number: 77235123 GG GEM GROUP Jewelry Owned by: RICHLINE GROUP, INC. Serial Number: 77444287 Image Trademark Christmas tree ornaments made of precious metal Owned by: RICHLINE GROUP, INC. Serial Number: 75284897 |
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UCC |
Debtor Names: ANDIN
INTERNATIONAL INC. 609 GREENWICH ST, NEW YORK, NY 10014, USA RICHLINE GROUP, INC. 115 S MACQUESTEN PKWY, MOUNT VERNON, NY 10550, USA Secured Party Names: IBM
CREDIT LLC 1 NORTH CASTLE DRIVE, ARMONK, NY 10504, USA File no. File
Date Lapse Date Filing Type 200701025004081 01/02/2007 01/02/2012 Financing Statement 201012216252328 12/21/2010 01/02/2012 Financing Statement Amendment Debtor Names: RICHLINE
GROUP, INC. 6701 NOB HILL, TAMARAC, FL 33321, USA Secured Party Names: KONICA
MINOLTA BUSINESS SOLUTIONS U.S.A., INC. 10201 CENTURION PARKWAY NORTH, JACKSONVILLE, FL
32256, USA File no. File
Date Lapse Date Filing Type 200910085906850 10/08/2009 10/08/2014 Financing Statement |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
SUMMARY
Founded in 1982, Richline Group, Inc. is an organization in the Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Industry headquartered in New York, NY.
The company has 1,900 regular employees and generates an estimated $62.2 million USD in annual estimated net assets.
It operates nationally and internationally, mainly importing from Dominican Republic. It is ACTIVE in business with no negative records.
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 |
INTERVIEW
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NAME |
Kelly |
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POSITION |
Sales |
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COMMENTS |
She confirmed the name of the company, the address of
the headquarters and location, the date of creation of the company, the
approximate number of employees and the name of the Chief Executive Officer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.76 |
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|
1 |
INR 89.95 |
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Euro |
1 |
INR 78.85 |
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USD |
1 |
INR 67.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VIV |
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Report Prepared
by : |
SUJ |
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.