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MIRA INFORM REPORT
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Report No. : |
516882 |
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Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
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Name : |
JOCKEY INTERNATIONAL INC |
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Registered Office : |
2300 60th St Kenosha, WI, 53140-3889 |
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Country : |
United States |
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Date of Incorporation : |
13.09.1902 |
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Legal Form : |
Corporation |
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Line of Business : |
Manufactures and markets underwear and other apparel products. |
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No. of Employees : |
1000 |
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 : |
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
|
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.
|
Source : CIA |
Statutory
Information
|
Order |
JOCKEY INTERNATIONAL INC |
|
Address
in the order |
2300 60TH ST KENOSHA WI 53140 |
|
Legal
Name |
JOCKEY INTERNATIONAL, INC. |
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Trade
Name |
JOCKEY |
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ID |
ID |
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ID
Details |
1J03144 |
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Creation
Date |
1876 |
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Incorporation
Date |
September 13, 1902 |
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Legal
Address |
Registered Agent: Lexis Document Services Inc. 8040
Excelsior Drive Suite 400 Madison, WI 53717 USA |
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Operative
Address |
2300 60TH ST KENOSHA, WI, 53140-3889 United States
USA |
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Telephone
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+1 (262) 658-8111 / 1-800-562-5391 |
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Fax |
+1 (262) 658-8111 / 1-800-562-5391 |
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Legal
Form |
CORPORATION |
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E-Mail |
info@jockey.com |
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Registered
In |
Wisconsin (WI) |
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Website |
www.jockeyinternational.com / www.jockey.com |
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Contact |
Debra Steigerwaldt Waller, Chairman and Chief
Executive Officer |
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Staff |
1,000 employees |
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Activity
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SIC 2 Description: Apparel And Accessory Stores SIC
4 Description: Men's And Boys' Clothing Stores |
Banks
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Name of Bank |
Reported
Amount |
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There are not informed banks |
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Description
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The company does not make its banking data public. |
History
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History |
The company was
founded in 1876. Jockey was originally named Coopers Inc., and was founded by
Samuel T. Cooper in St. Joseph, Michigan as a hosiery business. Cooper began
the business when he learned that lumberjacks were suffering from poorly
constructed wool socks. In 1900, Cooper began making undergarments. Although
business was good enough to merit expansion in 1902, by 1934 Coopers Inc. was
nearly bankrupt due to hardships caused by the Great Depression. The company
recruited Harry H. Wolf, Sr., to restructure the company. |
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Key
Developments |
On January 19, 1935, during a blizzard, Coopers Inc. sold the world's first briefs at the Marshall Field's State Street store in downtown Chicago. Designed by an apparel engineer named Arthur Kneibler, briefs dispensed with leg sections and had a Y-shaped overlapping fly. The company dubbed the design the maccky, since it offered a degree of support that had previously only been available from the jockstrap. Macky briefs proved so popular that over 30,000 pairs were sold within three months of their introduction. Coopers, having renamed the company Jockey, sent its Mascul-liner plane to make special deliveries of masculine support briefs to retailers across the US. In 1938, when macky were introduced in the UK, they sold at the rate of 3,000 a week. In 1997 Jockey acquired the seamless panties division of Formfit-Rogers, and sold them under the name Form-Fit (this branding was later discontinued). In 1982, Jockey introduced the Jockey For Her line of intimate apparel and underwear. In 2000, Jockey began seling products directly on-line. Jockey manufactured Life and Formfit brands temporarily for Wal-Mart and Target. Jockey continues to manufacture the Life brand of men's underwear but discontinued the women's line in 2002. Jockey continues to manufacture both men's and women's lines for Target under the JKY brand. In 2005, Jockey introduced its direct-selling division jockeyp2p.com. The independent sales force, known as Comfort Specialist Consultants, sells products for women. Product lines include outerwear, sportswear, active wear, and accessories. Jockey International Chairman and CEO Debra S. Waller founded Jockey Person to Person to provide women with the opportunity to enjoy a rich family life while making their dreams come true. In India, Page Industries Ltd. is the licensee for Jockey.
Jockey is now bringing its women’s collection to an entirely new market UK. Women of all ages, sizes and lifestyles appreciate the flexibility of this wash and wear 100% cotton knit in Jockey’s silhouettes (hipster boy short, French cut, brief, and bikini). To ensure that maximum comfort is also accompanied by maximum practicality, Elance is offered in a range of multi-packs, inclusive sizes (S to 2XL) and neutral colours, with additional seasonal colour offerings to keep one's style fresh. |
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Parent
Company |
NA |
Principal
Activity
|
General
Description |
Jockey International,
Inc. manufactures and markets underwear and other apparel products. |
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Service/Product
Description |
Jockey
International, Inc. is a manufacturer, distributor and retailer of underwear,
sleepwear and sportswear for men, women, and children.
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Sales |
Wholesale and Retail |
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Operations
Area |
National and International |
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Imports
From |
Colombia, Hong Kong and India |
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Export
To |
Worldwide |
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Employees
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1,000 employees |
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Payments
With Suppliers |
Regular |
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Comments |
Jockey sells its
products in more than 140 countries worldwide. In Latin America,
it serves Central America, the Caribbean Islands, Chile, Mexico, Panama, Peru,
and Venezuela. In Europe, it caters to Austria, Belgium, Bosnia, Herzigovina,
Bulgaria, Croatia, Czech Republic, Finland, Germany, Greece, Holland,
Ireland, Lebanon, Luxembourg, Romania, Russia, Serbia, Montenegro, Slovakia,
Slovenia, Spain, Sweden, Switzerland, Turkey, and the UK. Jockey has a hand
in Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New
Zealand, Pakistan, the Philippines, and Singapore through its Asia Pacific
operations. The
company also serves South Africa. |
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Comments |
- |
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Location
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Headquarters
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2300 60TH ST KENOSHA, WI, 53140-3889 United States
USA |
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Branches
|
The company has locations in: Foley, AL Chandler, AZ
Glendale, AZ Cabazon, CA Camarillo, CA Carlsbad, CA Folsom, CA Gilroy, CA
Lake Arrowhead, CA Livermore, CA Pismo Beach, CA Castle Rock, CO
Silverthorne, CO Westbrook, CT Rehoboth Beach, DE Destin, FL Ellenton, FL
Fort Myers, FL Lutz, FL Orlando, FL Saint Augustine, FL Sunrise, FL Vero
Beach, FL Locust Grove, GA Williamsburg, IA Aurora, IL Schaumburg, IL
Tuscola, IL Edinburgh, IN Fremont, IN Michigan City, IN Kansas City, KS Lee,
MA Wrentham, MA Hagerstown, MD Freeport, ME Kittery, ME Birch Run, MI Howell,
MI Albertville, MN Branson, MO Warrenton, MO Blowing Rock, NC Charlotte, NC
Concord, NC Cooleemee, NC Mocksville, NC Smithfield, NC North Conway, NH
Tilton, NH Flemington, NJ Jackson, NJ Las Vegas, NV Central Valley, NY Deer
Park, NY Lake George, NY New York, NY Waterloo, NY Aurora, OH Burbank, OH
Jeffersonville, OH Monroe, OH Lincoln City, OR Troutdale, OR Woodburn, OR
Hershey, PA Lancaster, PA Myrtle Beach, SC Sevierville, TN Allen, TX Round
Rock, TX San Marcos, TX Terrell, TX Leesburg, VA Williamsburg, VA Essex
Junction, VT North Bend, WA Oshkosh, WI Pleasant Prairie, WI |
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Industries
|
NA |
Group
Structure and Subdiary 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. Despite
our long search, we could not confirm major holders. |
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Management
|
Debra Steigerwaldt Waller, Chairman and Chief
Executive Officer |
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Subsidiary
Companies |
NA |
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Main
Competitors |
Calvin Klein, Inc. Hanesbrands Inc. Maidenform Brands, Inc. The Warnaco Group Inc Under Armour, Inc. Victoria's Secret Stores, LLC |
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Related
Companies |
The company has a presence in the US and Canada. |
Financial
Information
|
General
Description |
The company does not make its financial statements public. The following information has been provided by private sources: |
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Year/Currency
|
2016 USD |
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Estimated
Net Assets |
56,200,000 |
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Money
Flow |
Normal |
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Legal
Filings
|
Lawsuits |
Jockey Intern., Inc. v. M/V" LEVERKUSEN
EXPRESS", 217 F. Supp. 2d 447 (S.D.N.Y. 2002) |
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Trademarks |
MIDWAY - Trademark Details |
|
Patents
Registered |
UNDERGARMENT Abstract: An undergarment
comprising a front panel composed of a first stitch pattern, a rear panel
composed of a second stitch pattern, a waistband formed at the top of the
front and rear panels, a leg band formed at the bottom of the front and rear
panels and an interface. The interface is formed between the front and rear
panels and generally extending at least partially between the waistband and
the leg band on a side of the undergarment. The interface interleaves at
least a portion of the front panel with at least a portion of the rear panel. Type: Application Filed: October 6,
2006 Publication date:
April 12, 2007 Applicant: JOCKEY
INTERNATIONAL, INC. Inventors: Victor
Herbert, Laetitia Lecigne, Joel Marley
Patent number:
7425170 Abstract: An
armature for a brassiere for a woman have a chest area. A breast projecting
from the breast area and a transition area transitioning between the chest
area and proximal, intermediate, and distal portions of the breast. The
transition area defines a continuous contour. The armature includes an
underwire having a distal portion configured to be positioned adjacent the
distal portion of the breast, a proximal portion configured to be positioned
adjacent the proximal portion of the breast, and an intermediate portion
configured to be positioned adjacent the intermediate portion of the breast.
The underwire has an unsprung state configured to match the contour of the
transition area. Filed: June 22, 2007 Date of Patent: September 16, 2008 Assignee: Jockey International, Inc. Inventors: Victor Alan Herbert, Stewart Chapman
Abstract: A
brassiere including a flexible underwire attached to the bottom edge of a
first cup to define a cup contour. The underwire includes a straight first
end, a second end, and a central, radiused portion. A first wing is made from
an unstretched pattern and is attached to the first cup. The first wing has a
first edge having a lower portion connected to and corresponding to a lower
portion of the cup contour, and an upper portion that is recessed relative to
an upper portion of the cup contour when the pattern is unstretched. When the
brassiere is worn by the woman, the first wing is stretched, concentrating a
pulling force through the upper portion of the first edge to the upper
portion of the cup contour, reducing the capacity of the first cup and
raising the breast received within the first cup to enhance the appearance of
the breast within the first cup. Filed: March 4, 2005 Publication date: September 7, 2006 Applicant: Jockey International, Inc. Inventors: Victor Herbert, Douglas Champion
Publication number: 20090215359 Abstract: A
non-customized standard array of brassieres generated from a grading array
including a number of differently-sized bands that each defines an arc. The
grading array defines a constant angular band end location across a plurality
of band lengths, defines a constant angular cup location for different-sized
cups on a single band length as well as for the same or different-sized cups
across a plurality of band lengths, and defines a variable bridge distance
that varies based on cup size. The non-customized, standard array of brassieres
is identifiable by a standard brassiere measuring system where the volume
identifier of the cup represents a consistent volume regardless of the band
length for which the cup is associated. Further, the standard brassiere
measuring system is based on direct body measurements representative of
breast volume and underbust circumference. Filed: February 22, 2008 Publication date: August 27, 2009 Applicant: JOCKEY INTERNATIONAL, INC. Inventors: Stewart Chapman, Melissa Stewart
Abstract: A
non-customized standard array of brassieres generated from a grading array
including a number of differently-sized bands that each defines an arc. The
grading array defines a constant angular band end location across a plurality
of band lengths, defines a constant angular cup location for different-sized
cups on a single band length as well as for the same or different-sized cups
across a plurality of band lengths, and defines a variable bridge distance
that varies based on cup size. The non-customized, standard array of
brassieres is identifiable by a standard brassiere measuring system where the
volume identifier of the cup represents a consistent volume regardless of the
band length for which the cup is associated. Further, the standard brassiere
measuring system is based on direct body measurements representative of
breast volume and underbust circumference. Filed: February 22, 2008 Date of Patent: February 28, 2012 Assignee: Jockey International, Inc. Inventors: Stewart Chapman, Melissa Stewart
Patent number: 4706821 Abstract: A
merchandise display and dispensing device includes a frame which carries at
least one shelf. The shelf defines a slot, and the shelf supports a pushplate
which includes an upstanding section and a guide section oriented parallel to
the shelf. The pushplate is disposed on the shelf over the slot. Four low
friction glides are mounted to the guide section of the pushplate to bear on
an upper planar surface of the shelf to support the pushplate on the shelf
and to reduce sliding friction therebetween. First and second guide pins are
mounted to the pushplate to extend through the slot and thereby guide sliding
motion of the pushplate on the shelf. The guide pins have enlarged heads
sized to bear against the lower surface of the shelf to hold the pushplate in
place. A spring is mounted between the pushplate and the shelf to bias the
pushplate toward a first end of the slot. Filed: July 17, 1986 Date of Patent: November 17, 1987 Assignee: Jockey International, Inc. Inventors: Mitchell L. Kohls, Loren G. Smith, H.
David Zahringer Patent number: 6276069 Abstract: A brassiere
sizer includes a housing having a front, side, and rear walls. A first set of
indicia is provided on the front wall and comprises length increments equally
spaced apart and disposed in a circular array on the side wall and a second
indicia is provided on the front wall and comprises brassiere cup size
indicia equally spaced apart and in an arcuate array concentric with the
first set of indicia. A dial mounted on the first member for rotation about a
rotation axis concentric with the first set of indicia, and a third set of
indicia is provided on the dial in a spaced apart circular array and
denominating length increments and disposed adjacent to the first set of
indicia. A window in the dial is positioned to be adjacent to the cup size
indicia on the front housing face. First and second measurement tapes are
mounted on the housing for sliding movement. Type: Grant Filed: March 1, 1999 Date of Patent: August 21, 2001 Assignee: Jockey International, Inc. Inventors: Douglas Owen Chadwick, Mala Kathleen Brindisi
|
|
Renewals
|
Jockey International, Inc. was formerly known as
Jockey Menswear, Inc. and changed its name to Jockey International, Inc. in
1972. |
|
UCC
(Uniform Commercial Code) |
No records found. |
|
OFAC
Sanctions List Search |
The company is not listed in the OFAC list. |
Summary
Founded in 1876, Jockey International, Inc. manufactures and
markets underwear and other apparel products.
The company has approximately 1,000 employees and generates an estimated USD
56.2 million in annual estimated net asset.
It imports from Colombia, Hong Kong and India, and exports worldwide, operating
within national and international markets.
This has been an ACTIVE company incorporated in Wisconsin (WI) in 1902.
Risk
Information
|
Debts |
Controlled |
|
Payments |
Regular |
|
Cash Flow |
Normal |
|
State |
ACTIVE |
Interview
|
First Name |
Jackie |
|
Position |
Operator |
|
Comments |
The person contacted confirmed legal name, trade
name and telephone. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.14 |
|
UK Pound |
1 |
INR 90.27 |
|
Euro |
1 |
INR 79.34 |
|
USD |
1 |
INR 68.12 |
Note : Above are approximate rates obtained from sources
believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SUJ |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate
rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.