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MIRA
INFORM REPORT
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Report No. : |
511042 |
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Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ROSY BLUE, INC. |
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Registered Office : |
405 Lexington Ave New York, New York, 10174-1299,
Usa |
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Country : |
United States |
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Financials (as on) : |
2016 (Summarized) |
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Year of Establishment : |
1974 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is engaged in the manufacture and supply of diamonds and
jewelry internationally. |
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No. of Employees : |
28 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $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: |
ROSY BLUE, INC. |
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Trade Name: |
ROSY BLUE, INC. |
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ID: |
1432319 |
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Date Created: |
1974 |
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Date Incorporated: |
MARCH 21, 1990 |
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Legal Address: |
405 LEXINGTON AVE NEW YORK, NEW YORK, 10174-1299, USA |
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Operative Address: |
529 FIFTH AVE. NEW YORK, NEW YORK, 1001, USA |
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Telephone: |
212-687-8838 |
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Fax: |
212-856-9835 |
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Legal Form: |
CORPORATION |
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Email: |
newyork@rosyblueusa.com |
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Registered in: |
NEW YORK |
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Website: |
www.rosyblue.com |
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Contact: |
AASHISH JHAVERI – Chief Executive Officer |
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Staff: |
28 |
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Activity: |
SIC Code 5094 Jewelry, Watches, Precious Stones, and
Precious Metal |
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Banks: |
BANK OF AMERICA ABN AMRO BANK N.V. ANTWERPSE DIAMANTBANK N.V. JPMORGAN CHASE BANK ALMA DIAMONDS INC. |
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History: |
The company was founded in 1974. |
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Parent Company: |
Rosy Blue, Inc. operates as a subsidiary of: Rosy Blue N.V. Hoveniersstraat 53 Box 127 Antwerp, 2018 Belgium |
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PRINCIPAL ACTIVITY |
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Rosy Blue, Inc. engages in the manufacture and
supply of diamonds and jewelry internationally. |
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Products/Services description: |
The company offers diamonds. |
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Brands: |
ROSY BLUE |
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Sales are: |
Wholesale |
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Clients: |
It supplies its products to retail chains, independents,
and department stores. |
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Suppliers: |
Analab Scientific Instruments Pvt Ltd |
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Operations area: |
National |
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The company imports from |
INDIA |
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The company exports to |
No export records found. |
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The subject employs |
28 employees |
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Payments: |
Slow but Correct |
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LOCATION |
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Headquarters : |
529 FIFTH AVE. NEW YORK, NEW YORK, 1001, USA |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
Rosy Blue DMCC Level 31/A-D Almas Tower, Jumeirah Lake Towers, Sheikh Zayed Road PO Box 340502, Dubai, UAE Rosy Blue Sales Ltd Diamond Exchange, Maccabi Building B2, 1 Jabotinsky Street, Ramat Gan 52520, Israel Rosy Blue Ltd Jewelry Mart, 3rd Floor, Higashi Ueno 1-10-6, Taito-Ku, Tokyo 110-0015, Japan Rosyblue Hong Kong Ltd. Rm 403-4, Harbour Centre 2, 8 Hok Cheung Street, Hung Hom, Kowloon, Hong Kong Intergold Pvt. Ltd. Plot No 34, Seepz, Sez, MIDC, Andheri (East) Mumbai 400 096 India Rosy Blue Pvt. Ltd. 1608-09 Prasad Chambers, Opera House Mumbai 400004 India Rosy Blue Diamond Co. Ltd China Diamond Exchange Center No1701, Century Avenue, Rm801-02, Tower B PuDong Area, Shanghai 200122 China |
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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: |
Rosy Blue, Inc. operates as a subsidiary of: Rosy Blue N.V. Hoveniersstraat 53 Box 127 Antwerp, 2018 Belgium |
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Management: |
AASHISH JHAVERI – Chief Executive Officer Sanjay Shah – Controller Dipu Mehta - President and President of Rosy Blue
Fine Division Paul Hotz - Chief Financial Officer Phillip Trott - Company Secretary And Head Legal Jignesh Vora - Head Banking And Exports And
Management Information Systems |
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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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Sales |
12.000.000 |
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Cash flow |
Normal |
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LEGAL FILINGS |
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PATENTS |
Infinity cut stone design Patent number: D485506 Type: Grant Filed: December 31, 2002 Date of Patent: January 20, 2004 Assignee: Rosy Blue, Inc. Inventor: Dilip Shah Round cut precious stone Patent number: D595609 Type: Grant Filed: January 16, 2009 Date of Patent: July 7, 2009 Assignee: Rosy Blue, Inc. Inventor: Dipu Mehta Multiple facet gemstone Patent number: D675546 Type: Grant Filed: March 22, 2012 Date of Patent: February 5, 2013 Assignee: Rosy Blue, Inc. Inventor: Aashish Jhaveri Multiple facet gemstone Patent number: D676350 Type: Grant Filed: March 22, 2012 Date of Patent: February 19, 2013 Assignee: Rosy Blue, Inc. Inventor: Aashish Jhaveri |
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CASES |
Rosy Blue, Inc. v. Island Capital Ltd. Plaintiff: Rosy Blue, Inc. Defendant: Island Capital Ltd. Case Number: 1:2010cv07859 Filed: October 14, 2010 Court: New York Southern District Court Office: Foley Square Office County: NewYork Presiding Judge: John G. Koeltl Nature of Suit: Insurance Cause of Action: 28:1332 Jury Demanded By: None 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 |
IGRB jewelry; namely, necklaces, rings, earrings, jewel
studs, bracelets, wedding bands, pendants, all made of precious metal… Owned by: ROSY BLUE INC. Serial Number: 74132163 HONEY MOON jewelry Owned by: ROSY BLUE INC. Serial Number: 74158897 HONEY COMB jewelry Owned by: ROSY BLUE INC. Serial Number: 74167149 EXCELLENCE2 Jewelry, namely, rings, bracelets, earrings,
necklaces, pendants and brooches, diamonds and precious gemstones Owned by: ROSY BLUE INC. Serial Number: 76342033 PERFECTION COLLECTION Jewelry, namely, rings, bracelets, earrings,
necklaces, pendants and brooches, diamonds and precious gemstones Owned by: ROSY BLUE INC. Serial Number: 76420723 ONE WORLD DIAMOND COMPANY Diamonds; jewelry, namely, rings, bracelets,
earrings, necklaces, pendants, pins and brooches all made in whole or in
significant… Owned by: ROSY BLUE INC. Serial Number: 77226991 |
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RENEWAL HISTORY |
Filing Date Name
Type Entity Name MAR 21, 1990 Actual ROSY BLUE, INC. |
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UCC |
Debtor Names: ROSY
BLUE INC. 529 FIFTH AVENUE, NEW YORK, NY 10017-0000, USA ROSY BLUE INC. 1180 AVENUE OF THE AMERICAS, NEW YORK, NY
10036-0000, USA Secured Party Names: ABN
AMRO BANK N.V. (SUCCESSOR BY MERGER TO ALGEMENE BANK NEDERLAND N.Y.) NEW YORK
BRANCH ABN AMRO CAPITAL USA LLC 100 PARK AVENUE, NEW YORK, NY 10017, USA ABN AMRO BANK N.V. 565 FIFTH AVENUE, NEW YORK, NY 10017, USA File no. File
Date Lapse Date Filing Type Pages 114363 06/06/1995 06/06/2000 Financing Statement 197262 09/15/1998 06/06/2000 Financing Statement Amendment 049198 03/13/2000 06/06/2005 Continuation 200502010159205 02/01/2005 06/06/2010 Continuation 201005130259970 05/13/2010 06/06/2010 Financing Statement Amendment 201005180270051 05/18/2010 06/06/2015 Continuation 201005215487127 05/21/2010 06/06/2015 Continuation 201403130134641 03/13/2014 06/06/2015 Assignment Debtor Names: ROSY
BLUE INC. 529 FIFTH AVENUE, NEW YORK, NY 10017-0000, USA Secured Party Names: ANTWERPSE
DIAMANTBANK N.V. PELIKAANSTRAAT 54 B-2018, ANTWERPEN 00000-0000, BEL File no. File
Date Lapse Date Filing Type 233218 10/15/2002 10/15/2007 Financing Statement 200704178152084 04/17/2007 10/15/2012 Continuation 201209280551492 09/28/2012 10/15/2017 Continuation 201407250417125 07/25/2014 10/15/2017 Termination Debtor Names: ROSY
BLUE INC. 529 FIFTH AVENUE, FIFTEENTH FLOOR, NEW YORK, NY
10017, USA Secured Party Names: JPMORGAN
CHASE BANK, AS SECURITY TRUSTEE TRINITY TOWER, 9 THOMAS MORE STREET, LONDON, NA, GBR File no. File
Date Lapse Date Filing Type 200408030795067 08/03/2004 08/03/2009 Financing Statement 200812020796836 12/02/2008 08/03/2009 Termination 4Debtor Names: ROSY
BLUE INC. 529 FIFTH AVENUE,
FIFTEENTH FLOOR, NEW YORK, NY 10017, USA Secured Party Names: JPMORGAN
CHASE BANK, AS SECURITY TRUSTEE TRINITY
TOWER, 9 THOMAS MORE STREET, LONDON, NA, GBR File no. File
Date Lapse Date Filing Type P 200408030795093 08/03/2004 08/03/2009 Financing Statement 200812020796824 12/02/2008 08/03/2009 Termination Debtor Names: ROSY
BLUE,INC. 529 5TH AVE FL 12, NEW YORK, NY 10017, USA Secured Party Names: ALMA
DIAMONDS INC. 579,FIFTH AVE,SUITE # 600, NEW YORK, NY 10017, USA File no. File
Date Lapse Date Filing Type 200906028189747 06/02/2009 06/02/2014 Financing Statement 200906228215051 06/22/2009 06/02/2014 Termination |
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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 1974, Rosy Blue, Inc. is a mid-sized
organization in the jewelry and precious stone company’s industry located in
New York, NY. It has 28 full time employees and generates an
estimated $12 million in annual revenue. The company operates nationally, mainly importing
from India. It is ACTIVE in business with no negative records. |
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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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 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 67.62 |
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1 |
INR 89.70 |
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Euro |
1 |
INR 78.19 |
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US Dollar |
1 |
INR 67.35 |
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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PRI |
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Report Prepared
by : |
DNS |
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.