Engineering:Michael Hill Jeweller

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Michael Hill International Limited
Michael Hill Jeweller
TypePublic
ASX: MHJ
Template:Nzx
IndustryRetail
FoundedScript error: No such module "Date time". 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]
Websitewww.michaelhill.com.au (AU)
www.michaelhill.co.nz (NZ)
www.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

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

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

  • 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]
  • Michael Hill and family standing outside the entrance of their first jewellery store
    Michael Hill and family in front of their first store
  • Michael Hill Jeweller at the Chadstone Shopping Centre
    Michael Hill Jeweller at the Chadstone Shopping Centre
  • Michael Hill Jeweller at the Upper Canada Mall
    Michael Hill Jeweller at the Upper Canada Mall

References

  1. ↑ 1.0 1.1 Ignacio, Celene (2024-07-19). "Michael Hill expects higher sales in Australia, Canada" (in en-US). https://insideretail.com.au/business/michael-hill-expects-higher-sales-in-australia-canada-202407. 
  2. ↑ 2.0 2.1 2.2 2.3 Michael Hill International (2010). "Michael Hill International Annual Report 2009". http://globalregister.co.nz/mhill/MHIReport11.pdf. Retrieved 5 May 2010. 
  3. ↑ "Michael Hill Annual Report 2018". http://investor.michaelhill.com/static-files/efb5d976-14e3-4b9b-a038-ade3d088276a. 
  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". Michael Hill Jewellers. http://michaelhill.co.nz/page2.html. 
  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. http://www.randomhouse.co.nz/books/michael-hill/toughen-up-what-ive-learned-about-surviving-tough-times-9781869790462.aspx. 
  7. ↑ 7.0 7.1 "Michael Hill buys into US". 31 January 2009. http://www.stuff.co.nz/business/592785. Retrieved 6 May 2010. 
  8. ↑ Fairfax NZ Ltd (17 February 2006), Michael Hill profit up 10 per cent, http://www.stuff.co.nz/business/industries/financial-results/9050400/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" (in en-AU). 2018-04-12. https://www.newsroom.co.nz/page/no-buyers-for-michael-hill-fails-to-find-buyers-for-us-stores. 
  11. ↑ Adams, David (2023-04-20). "Family-run Bevilles cashes out for $45 million as Michael Hill takes ownership of jewellery retailer" (in en-AU). https://www.smartcompany.com.au/finance/mergers-and-acquisitions/michael-hill-bevilles-family-owned/. 
  12. ↑ McKenzie-Minifie, Martha (25 August 2006), "Diamonds are this jeweller's best friend", The New Zealand Herald (New Zealand), http://www.nzherald.co.nz/michael-hill-international-ltd/news/article.cfm?o_id=113&objectid=10397936, retrieved 5 May 2010 
  13. ↑ 13.0 13.1 Drinnan, John (13 October 2006), "Jeweller counting on own watches", The New Zealand Herald (New Zealand), http://www.nzherald.co.nz/michael-hill-international-ltd/news/article.cfm?o_id=113&objectid=10397936, retrieved 5 May 2010 
  14. ↑ 14.0 14.1 Michael Hill International (2010). "Michael Hill Company History". Archived from the original on 2 June 2010. https://web.archive.org/web/20100602085008/http://www.michaelhill.com/#CompanyHistory. Retrieved 5 May 2010. 
  15. ↑ Michael Hill International (2010). "Michael Hill News". Archived from the original on 2 June 2010. https://web.archive.org/web/20100602085008/http://www.michaelhill.com/#News. Retrieved 5 May 2010. 
  16. ↑ NZPA (2010). "Michael Hill scales back US operation". Archived from the original on 9 December 2010. https://web.archive.org/web/20101209234434/http://www.stuff.co.nz/business/industries/3785705/Michael-Hill-scales-back-US-operation/. Retrieved 8 June 2010. 
  17. ↑ "Michael Hill in trans-Tasman tax dispute". http://www.3news.co.nz/business/michael-hill-in-transtasman-tax-dispute-2012091911. Retrieved 1 January 2016. 
  18. ↑ Walters, Laura (30 October 2013). "Michael Hill plans US bridal range". Stuff.co.nz. http://www.stuff.co.nz/dominion-post/business/9342570/Michael-Hill-plans-US-bridal-range. 
  19. ↑ "Slag Aussie sales hit Michael Hill". 8 January 2015. http://www.stuff.co.nz/business/industries/64796486/australian-slowdown-hits-jeweller-michael-hill. Retrieved 1 January 2016. 
  20. ↑ "Michael Hill opens New York store". 29 April 2015. http://www.stuff.co.nz/business/industries/68137974/michael-hill-jewellers-opens-in-new-york. Retrieved 1 January 2016. 
  21. ↑ "Aussie market picks up for Michael Hill jewellery". 13 October 2015. http://www.jewellermagazine.com/Article.aspx?id=5452. Retrieved 1 January 2016. 
  22. ↑ "Michael Hill takes new founder president role within the jewellery chain". http://www.nbr.co.nz/article/michael-hill-takes-new-founder-president-role-within-jewellery-chain-b-182580. Retrieved 1 January 2016. 

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