Now it will be Emma Hill, jeweller
EMMA HILL, the incoming chairwoman of Michael Hill Jewellers, is not adverse to a bit of bling – Michael Hill-made, of course.
‘‘I’ve got this beautiful pendant around my neck, it’s got four diamonds and one of them was one my mum gave me. She used to wear it in her belly button. I was turning 40 and she gave me this loose diamond,’’ she said.
It had been a simple matter to get it made into an accessory.
The jewellery company announced yesterday that Emma Hill would succeed her father, Michael, at the head of the company after its annual meeting in November.
Hill family interests are substantial shareholders in company. The company also announced a near 11 per cent lift in annual profit to A$27.7 million (NZ$31.25m).
The group which began with a single store in Whangarei in 1979, is now in four countries and preparing to open its 300th store, in Auckland’s Vulcan Lane in a couple of weeks.
Sir Michael – as he is now known – said he was ‘‘thrilled’’ his daughter was about to take the wheel, alongside long-serving chief executive Mike Parsell.
Emma Hill said she well recalled that first store, where she ‘‘washed counters and emptied rubbish bins’’ as a child.
‘‘I’ve always admired my father so much and as a little girl I’ve always wanted to be like my dad . . . I’ve really grown up through the business and I just love it.
‘‘I’m incredibly privileged to be leading a global jewellery brand.’’
Her priorities would include continuing the company’s push into the United States, where it has nine stores with a second New York store on the way.
‘‘The US is still in effectively trial mode and it’s a great market to be in because it’s quite a challenging marketplace and as a result of that, we’re learning so much.’’
Further growth was also planned for Canada, a division she pioneered, and was now profitable, with 60 stores.
‘‘We’ve got opportunity for up to 110 locations across Canada.’’
Michael Hill also continued to trial Emma & Roe, a new brand with just a handful of stores, but which Hill believed had the potential to also go global.
‘‘It’s early days and we’re optimistic about its future.’’
Friday’s annual result showed total sales rose 4.3 per cent to A$505.6m in the year to June 30, but revenue and operating profit dipped in its biggest market, Australia, where consumer confidence was waning.
In contrast, New Zealand revenue rose 3.9 per cent and operating profit up 6.9 per cent to NZ$23.5m.
Hill said the company was refining its strategy in Australia and anticipated a turnaround this year. ‘‘The group is performing well there, we just haven’t had the growth we anticipated last year. The business model’s very sound there and will continue to be.’’
Father, mother and daughter will all remain on the Michael Hill board and Emma Hill said she was conscious of upholding her father’s legacy.
‘‘His name is above the door’’ and he would remain involved, ‘‘which is great because we work so well together,’’ she said.