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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 Watches logo

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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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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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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  • 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]
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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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