SUIT SUPPLY ASIA HOLDING BV (FMO-47918)

Countries
  • Netherlands
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 30, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Suit Supply
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 7.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 7.00 MLN
Converted using 2016-06-30 exchange rate.
Loan Amount (USD)
$ 7.77 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 7.00 MLN
Converted using 2016-06-30 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 26, 2018


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Project Description

According to FMO website, Suit Supply is a leading, successful and award winning men's fashion brand, operating through its own extensive retail network. Suit Supply has a strong track record, growing from one store in 2000 to sixty-one stores in fifteen countries in 2015. In 2014 Suit Supply entered the Chinese retail market by opening one try-out store in the center of Shanghai. The result of this store has been deemed a success by the management and subsequently a second flagship store was opened in Shanghai in June 2015. The FMO loan will provide Suit Supply the opportunity to execute their global expansion plan in Asia. Asia’s fashion and apparel market growth will continue to lead global growth and will surpass demand in both West Europe and North America.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

No contact information provided at the time of disclosure.

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism