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MIRA INFORM REPORT
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Report No. : |
508065 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
LAZARE KAPLAN INTERNATIONAL INC |
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Registered Office : |
251 Little Falls Drive, Wilmington, Delaware |
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Country : |
United Status |
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Financials (as on) : |
2016 |
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Date of Incorporation : |
1903 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is diamond cutting company, provides diamonds under the The
Lazare Diamond brand name. |
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No. of Employees : |
43 |
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 : |
-- |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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United Status |
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 STATUS - 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: |
LAZARE KAPLAN INTERNATIONAL INC. |
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Trade Names: |
The Lazare Diamond |
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ID: |
784017 |
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Date Created: |
1903 |
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Date Incorporated: |
8/4/1972 |
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Legal Address: |
251 LITTLE FALLS DRIVE, WILMINGTON, DELAWARE, USA |
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Operative Address: |
19 W 44TH ST FL 16 NEW YORK, NY, 10036-6101
United States |
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Telephone: |
1-212-972-9700 |
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Fax: |
1-212-972-8561 |
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Legal Form: |
CORPORATION |
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Email: |
- |
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Registered in: |
DELAWARE |
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Website: |
lazarediamonds.com |
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Contact: |
Leon Tempelsman - President |
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Staff: |
43 |
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Activity: |
SIC Code. 3915, Jewelers' Findings and Materials, and Lapidary Work NAICS Code: 339910, Jewelry and Silverware Manufacturing |
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Banks: |
BANK OF AMERICA |
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History: |
Lazare Kaplan International, Inc. was founded in 1903 and is based in
New York, New York. It has store locations in China, Singapore, Taiwan,
Malaysia, and Hong Kong. |
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PRINCIPAL
ACTIVITY
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Lazare Kaplan International, Inc., a diamond cutting company, provides
diamonds under the The Lazare Diamond brand name. |
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Products/Services description: |
The company offers diamonds for a range of jewelry, including wedding
rings and bands, earrings, and pendants. |
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Brands: |
Lazare Diamonds. |
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Sales are: |
Wholesale |
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Clients: |
PLAZA VENDOME SA |
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Suppliers: |
NA |
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Operations area: |
National and International |
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The company imports from |
No import were found. |
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The company exports to |
ECUADOR |
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The subject employs |
43 employees |
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Payments: |
Made on a 90+ day basis |
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LOCATION
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Headquarters : |
19 W 44TH ST FL 16 NEW YORK, NY, 10036-6101
United States |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
Joyeria Muller Centreo Comercial Multiplaza No. 42 P.O. Box
1606/250 San Jose, Costa Rica Lane Crawford (IFC Mall) Podium 3, ifc mall, 8 Finance Street, Central Hong Kong Carranza y Carranza Mississippi 105 Ote Col del Valle Garza Garcia, N.L. Monterrey, Mexico, 66220 Larry Jewelry (Ngee Ann City) #02-12A Ngee Ann City, 391 Orchard Road Singapore, S238872 |
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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: |
The company does not disclose information on shareholders. The following
information has been provided by private sources and could not be confirmed: The major holders of this company are: Leon Tempelsman Maurice Tempelsman |
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Management: |
Mr. Leon Tempelsman - Vice Chairman, Principal Executive Officer and President William H. Moryto - Chief Financial Officer, Principal Accounting
Officer, Vice President Todd Chametsky - Shipping Manager |
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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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STATUS |
11.800.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Microinscribed gemstone Patent number: 6684663 Abstract: A microinscribed gemstone is inscribed by a laser beam to
graphitize a surface portion of the gemstone without damaging a bulk portion. Type: Grant Filed: September 6, 2002 Date of Patent: February 3, 2004 Assignee: Lazare Kaplan International, Inc. Inventors: George R. Kaplan, Avigdor Shachrai, Oded Anner, Leonid
Gurvich Microinscribed gemstone Patent number: 7010938 Abstract: A microinscribed gemstone such as a diamond is inscribed by
a laser beam to graphitize a surface portion of the gemstone without damaging
a bulk portion. Type: Grant Filed: August 12, 2004 Date of Patent: March 14, 2006 Assignee: Lazare Kaplan International, Inc. Inventors: George R. Kaplan, Avigdor Shachrai, Oded Anner, Leonid
Gurvich Microinscribed gemstone Patent number: 7655882 Abstract: An apparatus and method for producing an authentication
certification for a gemstone, having a processor, a database coupled to the
processor, in which are stored data defining laser micro-inscriptions and
physical characteristics of a plurality of gemstones, a graphic user
interface (GUI) for interacting with and controlling the processor, and a
computer output device, presenting in human readable form, information from
the database describing for a respective gemstone the laser micro-inscription
and physical characteristic information. The output is suitable for
authentication of a presumptive gemstone. A corresponding method generates
data for the database from the gemstone, and/or authenticates a
laser-microinscribed gemstone based on previously stored data. Type: Grant Filed: March 14, 2006 Date of Patent: February 2, 2010 Assignee: Lazare Kaplan International, Inc. Inventors: George R. Kaplan, Avigdor Shachrai, Oded Anner, Leonid
Gurvich Laser marking system Patent number: 6476351 Abstract: A laser energy microinscribing system, including a
semiconductor excited Q-switched solid state laser energy source; a cut
gemstone mounting system, allowing optical access to a mounted workpiece; an
optical system for focusing laser energy from the laser energy source onto a
cut gemstone; a displaceable stage for moving the gemstone mounting system
with respect to the optical system so that the focused laser energy is
presented to desired positions on the gemstone, having a control input; an
imaging system for viewing the gemstone from a plurality of vantage points;
and a rigid frame supporting the laser, the optical system and the stage in
fixed relation, to resist differential movements of the laser, the optical
system and the stage and increase immunity to vibrational misalignments. Type: Grant Filed: October 16, 2000 Date of Patent: November 5, 2002 Assignee: Lazare Kaplan International, Inc. Inventors: George R. Kaplan, Avigdor Shachrai, Oded Anner, Leonid
Gurvich |
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GOVERNMENT CONTRACTS |
No records were found. |
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CASES |
Lazare Kaplan International v. KBC Bank N.V. Plaintiff - Appellant: Lazare Kaplan International Inc. Defendant - Appellee: KBC Bank N.V. and Antwerp Diamond Bank N.V. Case Number: 12-3535 Filed: September 7, 2012 Court: U.S. Court of Appeals, Second Circuit Nature of Suit: STATUTES-RICOH Branch v. Lazare Kaplan International, Inc. et al Plaintiff: Yvette Branch Defendant: Lazare Kaplan International, Inc. and Jeffrey Edelstein Case Number: 1:2012cv00810 Filed: February 1, 2012 Court: New York Southern District Court Office: Foley Square Office County: NewYork Presiding Judge: Alvin K. Hellerstein Nature of Suit: Employment Cause of Action: 42:2000 Jury Demanded By: Plaintiff Lazare Kaplan International Inc. v. KBC Bank N.V. et al Plaintiff: Lazare Kaplan International Inc. Defendant: KBC Bank N.V. and Antwerp Diamond Bank N.V. Case Number: 1:2011cv09490 Filed: December 23, 2011 Court: New York Southern District Court Office: Foley Square Office County: NewYork Referring Judge: James C. Francis Presiding Judge: Andrew L. Carter Nature of Suit: Racketeer/Corrupt Organization Cause of Action: 18:1962 Racketeering (RICO) Act Jury Demanded By: Plaintiff Angela Tese-Milner v. De Beers Centenary AG Plaintiff: W.B. David &Co., Inc. Defendant: De Beers Centenary AG, De Beers Consolidate Mines Ltd., De
Beers Societe Anonyme, De Beers LV Ltd., Diamdel SA, Diamdel NV, Gary Ralfe,
Gareth Penny, Nicky F. Oppenheimer, Jonathon Oppenheimer, Alan Campbell,
Derek Palmer, Stephen Lussier, J. Walter Thompson U.S.A., Inc., J. Walter
Thompson Company, Diane Warga-Arias, D. Navinchandra &Co., E.M.A. Diamond
Manufacturing Limited, R.T. Diamond Pvt. Ltd., Richold SA, S. Vinodkumar
&Co., Shree Ramkrishna Export, Sundiamond BVBA, Venus Jewel, Dalumi
Diamonds Ltd., AMC BVBA, A. Schwartz &Sons Diamonds Ltd., Arjav Diamonds
NV, Asian Star Co. Ltd., Astra Diamond Manufacturers Ltd., b. Vijaykumar
&Co., Bhavani Gems, Blue Star, C. Mahendra Exports, Classic Diamonds
(India) Ltd., D.D. Manufacturing NV, Dali Diamonds Company NV Ltd., De Toledo
Diamonds Ltd., Diamanthandel A.Spira BVBA, Diarough NV., Dilipkumar V. Lakhi,
Digico Holdings Ltd., Dimexon Diamonds Ltd., Dynamic Diamond Corp., E.F.D.
Ltd., Eurostar Diamond Traders NV, Fabrikant &Salant Group Ltd.,
Festidiam Cutting Works Pty Ltd., Fruchter Gad Diamonds Ltd., Gembel European
Sales NV, Hasenfeld-Stein, Inc., Inter Gems-Claes NV, J.B. Diamonds, Julius
Klein Diamonds LLC, K. Girdharlal, KGK Enterprises, K.P. Sanghvi &Sons,
Karp Impex Ltd., L.I.D. Ltd., Dilip Kumar V. Lakhi Group, Laxmi Diamond,
Lazare Kaplan International Inc., Lili Diamonds, Livingstones, Louis Glick
&Co., M. Suresh &Co., Mahendra Brothers, Michael Werdiger, Inc., Mohit
Diamonds Impex Pvt. Ltd., Moti Ganz, Navin Gems, Overseas Diamonds NV,
Kothari &Co., Premier Gem Corp., Premier Diamond Cutting Ltd., Rand
Precision Cut Diamonds (PTY) Ltd., Ratilal Becharlal &Sons, Rosy Blue
Inc., Rosy Blue NV (India) Pvt. Ltd., Sanghavi Exports, Schachter &Namdar
Polishing Works Ltd., Sheetal Manufacturing Co, Shrenuj &Company, Ltd.,
Smolensk State Unitary Co., Kristal Production Corp., Star Diamond Group
(SDG) BV, Suashish Diamonds Ltd., Supergems Holdings Ltd., Suresh Brothers,
Tache Company NV, Tasaki Shinju Co. Ltd., Trau Bros. NV, Pluczenik Diamond
Co. NV, Vijaydimon BVBA, Yahalomei Espeka International Ltd., Yerushalmi
Brothers Diamond Ltd., Other Sightholders, John Does 1 84, Central Selling
Organization, CSO Valuations A.G., Diamond Development Company N.V., Diamond
Development Company S.A., De Beers S.A., DB Investments, Inc., Diamdel
Holdings (Limited) Hong Kong and De Beers Investments S.A. Plaintiff - Appellant: Angela Tese-Milner, as Chapter 7 Trustee of the
Estate of W.B. David Co., Inc. Defendant - Appellee: The Diamond Trading Company and Diamond Trading
Company, Ltd. Case Number: 11-4609 Filed: October 31, 2011 Court: U.S. Court of Appeals, Second Circuit Nature of Suit: STATUTES-Antitrust |
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TRADEMARKS |
LK BEAUTY IS IN THE CUTTING DIAMONDS AND DIAMOND JEWELRY Owned by: LAZARE KAPLAN INTERNATIONAL INC. Serial Number: 73156433 LAZARE KAPLAN DIAMONDS AND DIAMOND JEWELRY Owned by: LAZARE KAPLAN INTERNATIONAL INC. Serial Number: 73157459 THE LAZARE DIAMOND DIAMONDS Owned by: LAZARE KAPLAN INTERNATIONAL INC. Serial Number: 73576879 THE LAZARE DIAMOND REGISTRY WARRANTY AND REGISTRATION SERVICE TO RETAIL DIAMOND CUSTOMERS-NAMELY
GUARANTEEING TO RECUT DIAMONDS IN THE EVENT OF DAMAGE… Owned by: LAZARE KAPLAN INTERNATIONAL INC. Serial Number: 73576880 SETTING THE STANDARD FOR BRILLIANCE DIAMONDS Owned by: LAZARE KAPLAN INTERNATIONAL INC. Serial Number: 73576972 LAZARE DIAMONDS diamonds Owned by: LAZARE KAPLAN INTERNATIONAL INC. Serial Number: 74134807 |
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RENEWAL HISTORY |
No records were found. |
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UCC |
No records were found. |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
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Founded in 1903 Lazare Kaplan International Inc is an organization in
the Jewelry Industry headquartered in New York, NY. The company has 43 regular employees and generates an estimated $11.8
million USD in annual revenue. It operates nationally and internationally, mainly exporting to
Ecuador. It is ACTIVE in business with medium credit risk. |
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RISK INFORMATION |
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DEBTS |
Made on a 90+ day basis |
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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 |
Anna |
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POSITION |
Operator |
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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 number of employees
and the name of the President. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.38 |
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1 |
INR 91.09 |
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Euro |
1 |
INR 79.75 |
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USD |
1 |
INR 67.33 |
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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DIV |
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Report Prepared
by : |
KET |
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.