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Michael Hill Jeweller

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Michael Hill International Limited
Michael Hill Jeweller
Company typePublic
ASX: MHJ
NZX: MHJ
IndustryRetail
Founded1979 (1979) in Whangārei, New Zealand
HeadquartersBrisbane, Queensland, Australia
Number of locations
300 (June 2024)[1]
Area served
  • Australia
  • New Zealand
  • Canada
Key people
Michael Hill (Founder President)
Emma Hill (Chairman)
Daniel Bracken (CEO)
ProductsJewellery
BrandsMichael Hill, Emma & Roe
RevenueIncrease$489 million NZD (30 June 2011)[2]
Websitemichaelhill.com.au (AU)
michaelhill.co.nz (NZ)
michaelhill.ca (CA)

Michael Hill International Ltd. is a speciality retailer of jewellery. As of June 2024, it operates 300 stores in Australia, New Zealand and Canada.[1] The company employs approximately 2,600 permanent employees.[3] Its headquarters are in Brisbane, Australia.

History

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Michael Hill and family standing outside the entrance of their first jewellery store
Michael Hill and family in front of their first store

The company started in 1979, when Michael Hill and his wife, Christine, opened their first store in the New Zealand town of Whangārei. A unique retail jewellery formula that included dramatically different store designs, a product range devoted exclusively to jewellery and almost saturation levels of high impact advertising elevated the company to national prominence.[2]

The company expanded to 10 stores by 1987, the same year it listed on the NZX. Also in this year, Michael Hill Jeweller expanded into Australia, opening four stores.[4]

In 2000, Michael Hill Jeweller had 40 stores in New Zealand, including 12 in Auckland.[5]

In 2002, the company expanded into Canada, opening its first stores in Vancouver, British Columbia.[6] Michael Hill now has a presence in five Canadian provinces: British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.[2] In September 2008, the company entered the United States market by acquiring 17 stores in Illinois and Missouri from Whitehall Jewelers.[2][7] By mid-2013 over 60% of overall sales were from Australia, only 20% from New Zealand, with the rest from North America.[8]

Emma Hill, the daughter of Michael Hill, succeeded him as chairperson after the November 2015 annual general meeting.[9]

In April 2018, Michael Hill closed their nine remaining stores in the US.[10]

In April 2023, Michael Hill announced it would acquire Australian jewellery chain Bevilles and its 26 stores for A$45 million.[11]

Michael Hill watches

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Michael Hill Watches logo

In late 2006, following a five-year trial,[12] the company launched its own brand of watches under the Michael Hill name, phasing out all but the Citizen brand of watches by the middle of 2007.[13] By mid-2008, only Michael Hill-brand watches were available in the company's stores.[7]

Timeline

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Michael Hill Jeweller at the Chadstone Shopping Centre
Michael Hill Jeweller at the Upper Canada Mall
  • 1979: Michael Hill opens his first store in Whangarei, New Zealand.[14]
  • 1981: Michael Hill began manufacturing his own jewellery in house.[14]
  • 2006: The Michael Hill Watch Collection was launched.[13]
  • 2009: The Michael Hill Charms Collection was launched.[15]
  • 2010: Michael Hill announced the closure of eight stores in the United States.[16]
  • The company announced it was in a $40m NZD dispute with the Australian Taxation Office.[17]
  • 2013: Michael Hill announced a new global brand, including bridal products and other jewellery which was more feminine.[18]
  • 2014: Sales in Australia were described as "lacklustre" due to Australian economic performance.[19] The company settled its dispute with the Australian Taxation Office.
  • 2015: The company opened a store in New York City in April 2015.[20] Australian sales improve after poor performance in that market during 2013–2014.[21] Sir Michael Hill moved to a new role of Founder/President, as his daughter Emma became Chairman.[22]

References

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  1. ^ a b Ignacio, Celene (19 July 2024). "Michael Hill expects higher sales in Australia, Canada". Inside Retail Australia. Retrieved 20 July 2024.
  2. ^ a b c d Michael Hill International (2010). "Michael Hill International Annual Report 2009" (PDF). Retrieved 5 May 2010.
  3. ^ "Michael Hill Annual Report 2018".
  4. ^ Hill, Michael; Bryan Staff (1994). HELLO – Michael Hill Jeweller. New Zealand: Penguin Books. ISBN 978-0-670-86033-3.
  5. ^ "New Zealand Store Locations". michaelhill.co.nz. Michael Hill Jewellers. Archived from the original on 4 December 2000.
  6. ^ Hill, Michael (2009). Toughen Up: What I've learned about surviving tough times. New Zealand: Random House. pp. 203–204. ISBN 978-1-86979-046-2.
  7. ^ a b "Michael Hill buys into US". 31 January 2009. Retrieved 6 May 2010.
  8. ^ Fairfax NZ Ltd (17 February 2006), Michael Hill profit up 10 per cent, retrieved 17 August 2013
  9. ^ Harris, Catherine (15 August 2015). "Following in dad's footsteps". The Press. p. C15.
  10. ^ "No buyers for Michael Hill's failed US stores". Newsroom. 12 April 2018. Retrieved 9 August 2022.
  11. ^ Adams, David (20 April 2023). "Family-run Bevilles cashes out for $45 million as Michael Hill takes ownership of jewellery retailer". SmartCompany. Retrieved 21 April 2023.
  12. ^ McKenzie-Minifie, Martha (25 August 2006), "Diamonds are this jeweller's best friend", The New Zealand Herald, New Zealand, retrieved 5 May 2010
  13. ^ a b Drinnan, John (13 October 2006), "Jeweller counting on own watches", The New Zealand Herald, New Zealand, retrieved 5 May 2010
  14. ^ a b Michael Hill International (2010). "Michael Hill Company History". Archived from the original on 2 June 2010. Retrieved 5 May 2010.
  15. ^ Michael Hill International (2010). "Michael Hill News". Archived from the original on 2 June 2010. Retrieved 5 May 2010.
  16. ^ NZPA (2010). "Michael Hill scales back US operation". Archived from the original on 9 December 2010. Retrieved 8 June 2010.
  17. ^ "Michael Hill in trans-Tasman tax dispute". Retrieved 1 January 2016.
  18. ^ Walters, Laura (30 October 2013). "Michael Hill plans US bridal range". Stuff.co.nz. Retrieved 1 January 2016.
  19. ^ "Slag Aussie sales hit Michael Hill". Stuff. 8 January 2015. Retrieved 1 January 2016.
  20. ^ "Michael Hill opens New York store". Stuff. 29 April 2015. Retrieved 1 January 2016.
  21. ^ "Aussie market picks up for Michael Hill jewellery". 13 October 2015. Retrieved 1 January 2016.
  22. ^ "Michael Hill takes new founder president role within the jewellery chain". The National Business Review. Retrieved 1 January 2016.
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