Michael Hill Jeweller

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Michael Hill International Limited
Public
Traded as NZX: MHI
Industry Retailing
Founded 1979 (1979) (Whangarei, New Zealand)
Headquarters Brisbane, Australia
Key people
 Michael Hill (Founder President) Emma Hill (Chairman)
Mike Parsell (CEO & Director)
Products Jewelry
Revenue Increase$489 million NZD (30 June 2011) [1]
Slogan Every Piece Tells a Story
Website www.michaelhill.com

Michael Hill Jeweller is a specialty retailer of jewelry in North America and Oceania. Michael Hill Jeweller operates a retail jewelry chain of 293 stores in Australia, New Zealand, Canada and the United States, with over 2,000 permanent employees.[1] The company's headquarters are in Brisbane, Australia.

History

File:Michael Hill - first NZ store.jpg
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 Whangarei. A unique retail jewelry formula that included dramatically different store designs, a product range devoted exclusively to jewelry and almost saturation levels of high impact advertising elevated the company to national prominence.[1] The company also received several international awards for window-dressing from renowned brands such as Bulova, Olympic and Omega.[2]

The company grew steadily, expanding 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 in four weeks.[3]

In 2002, the company expanded into Canada, opening its first stores in Vancouver.[2] Michael Hill now has a presence in five Canadian provinces: British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.[1] In September 2008, the company entered the United States market by acquiring 17 stores in Illinois and Missouri from Whitehall Jewelers.[1][4] By mid-2013 over 60% of overall sales were from Australia, only 20% from New Zealand, with the rest from North America.[5]

Emma Hill, the daughter of Michael Hill, will succeed him as chairman after the November 2015 annual general meeting.[6]

Michael Hill watches

File:MHJ Watches logo.png
250px

In late 2006, following a five-year trial,[7] 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.[8] By mid-2008, only Michael Hill-brand watches were available in the company's stores.[4] The watches range in design; including sports watches with rubber bands and gold bonded watches featuring diamonds and Mother of Pearl faces

Timeline

File:Michael Hill Jeweller Upper Canada Mall 2012.jpg
Michael Hill Jeweller at the Upper Canada Mall
  • 1979: Michael Hill opens his first store in Whangarei, New Zealand[9]
  • 1981: Michael Hill begins manufacturing his own jewelry in house. Today, over 80 percent of Michael Hill diamond rings are created by Michael Hill craftsmen in one of the world’s largest jewelry manufacturing plants[9]
  • 1986: Michael Hill opens his seventh store in Manukau City, Auckland. This store goes on to become the most profitable in the group, employing over 20 full-time staff
  • 1987: Michael Hill Jeweller lists on the NZX. Later in the same year, the company expands into Australia with the opening of two new stores in Chermside and Indooroopilly, Queensland
  • 2001: Michael Hill begins sponsorship of the Michael Hill International Violin Competition
  • 2004: The 100th store is opened in Mirrabooka, Western Australia. The ‘Evermore’ diamond collection is introduced.
  • 2006: The Michael Hill Watch Collection is launched.[8]
  • 2007: Michael Hill sponsors the first of three New Zealand Open Golf Competitions at his private golf course, The Hills.
  • 2008: Michael Hill enters into the US market with the purchase of 17 stores in Missouri and Illinois. During the same year, Michael Hill is announced the Ernst & Young Entrepreneur of the Year in New Zealand
  • 2009: The Michael Hill Charms Collection is launched.[10]
  • 2010: Michael Hill announces the closure of 8 stores in the United States as an attempt to scale back losses in the difficult economic environment. The remaining 9 stores are to be refurbished.[11]
  • 2012: Michael Hill opened a flagship store in Elizabeth Street in the Melbourne CBD this year. The company also announced it was in a $40m NZD dispute with the Australian Taxation Office.[12]
  • 2013: Michael hill announced a new global brand, including bridal products and other jewelry which was more feminine.[13]
  • 2014: Sales in Australia were described as "lacklustre" due to Australian economic performance.[14] The company settled its dispute with the Australian Taxation Office.
  • 2015: The company opens a store in New York City in April 2015.[15] Australian sales improve after poor performance in that market during 2013-2014.[16] Sir Michael Hill moved to a new role of Founder/President, as his daughter Emma became Chairman.[17]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ 4.0 4.1 Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ 8.0 8.1 Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ 9.0 9.1 Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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