Michael Hill Jeweller

Michael Hill International Limited

Type	Public
Traded as	NZX: MHI
Industry	Retailing
Founded	1979 (1979) (Whangarei, New Zealand)
Headquarters	Brisbane, Australia
Key people	Michael Hill (Chairman) Mike Parsell (CEO & Director) Wayne L Peters (Director) Ann Christine Hill (Director) Emma Jane Hill (Director) Murray Doyle (Independent Director) Gary Gwynne (Independent Director)
Products	Jewelry
Revenue	$412 million NZD (30 June 2009) [1]
Website	michaelhill.com

Michael Hill Jeweller (NZX:MHI) is a successful specialty retailer of fine jewellery in North America and Oceania.

Michael Hill Jeweller operates a retail jewellery chain of 242 stores in Australia, New Zealand, Canada and United States, with over 2,000 permanent employees.^[1]

The company's headquarters are in Brisbane, Australia.

History

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 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.^[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 four Canadian provinces: British Columbia, Alberta, 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]

Michael Hill Watches

In late 2006, following a five year trial,^[5] 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.^[6] By mid 2008, only Michael Hill-brand watches were available in the company's stores.^[4]

Timeline

• 1979: Michael Hill opens his first store in Whangarei, New Zealand^[7]

• 1981: Michael Hill begins manufacturing his own jewellery in house. Today, over 80 percent of Michael Hill diamond rings are created by Michael Hill craftsmen in one of the world’s largest jewellery manufacturing plants^[7]

• 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

• 2002: The first store in North America is opened in Burnaby, Canada

• 2004: The 100th store is opened in Mirrabooka, Western Australia. The ‘Evermore’ diamond collection is introduced.

• 2006: The Michael Hill Watch Collection is launched.^[6]

• 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.^[8]

• 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. ^[9]

References

1. ^ ^{a b c d e} Michael Hill International (2010). "Michael Hill International Annual Report 2009". http://globalregister.co.nz/mhill/MHIReport09.pdf. Retrieved 2010-05-05. 
2. ^ ^{a b} 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/Book_Display_46.aspx?ProductId=468165.  Archived 12 February 2011 at WebCite
3. ^ Hill, Michael; Bryan Staff (1994). HELLO - Michael Hill Jeweller. New Zealand: Penguin Books (NZ) Ltd. ISBN 978-0-670-86033-3. 
4. ^ ^{a b} "Michael Hill buys into US". http://www.stuff.co.nz/business/592785. Retrieved 6 May 2010. 
5. ^ McKenzie-Minifie, Martha (25 August 2006), "Diamonds are this jeweller's best friend", New Zealand Herald (New Zealand), http://www.nzherald.co.nz/michael-hill-international-ltd/news/article.cfm?o_id=113&objectid=10397936, retrieved 2010-05-05 
6. ^ ^{a b} Drinnan, John (13 October 2006), "Jeweller counting on own watches", New Zealand Herald (New Zealand), http://www.nzherald.co.nz/michael-hill-international-ltd/news/article.cfm?o_id=113&objectid=10397936, retrieved 2010-05-05 
7. ^ ^{a b} Michael Hill International (2010). "Michael Hill Company History". Archived from the original on 2011-02-12. http://www.michaelhill.com/#CompanyHistory. Retrieved 2010-05-05. 
8. ^ Michael Hill International (2010). "Michael Hill News". Archived from the original on 2011-02-12. http://www.michaelhill.com/#News. Retrieved 2010-05-05. 
9. ^ NZPA (2010). "Michael Hill scales back US operation". Archived from the original on 2011-02-12. http://www.stuff.co.nz/business/industries/3785705/Michael-Hill-scales-back-US-operation. Retrieved 2010-06-08. 

External links

• Michael Hill Jeweller
• Michael Hill Jeweller listing on the New Zealand Stock Exchange