MICHAEL HILL SPARKLES ONTO THE AUSTRALIAN STOCK EXCHANGE

MICHAEL HILL SPARKLES ONTO THE AUSTRALIAN STOCK EXCHANGE

One of New Zealand’s favourite sons, Sir Michael Hill, becomes an Australian icon today Thursday 7^th July when his highly successful global jewellery company Michael Hill International lists for the first time on the Australian Stock Exchange (ASX:MHJ) and his daughter, the company’s Chairperson, Emma Hill rings the ASX bell at 11am.

 Sir Michael’s incredibly inspirational story of starting his business began after his house burnt down in 1979. He was 42, married with two young children and had lost nearly everything in the fire. This was the moment in Michaels life where he gained clarity on what was important to his wife Christine and himself, and provided the catalyst for the beginnings of the first Michael Hill store. He proceeded to open his first jewellery store in Whangarei on New Zealand’s North Island against all of the best advice.  He wrote on a piece of paper “7 stores in 7 years”, which he achieved . Then in 1987 he floated the company on the New Zealand Stock Exchange, opened his first store in Australia and also set the vision of "70 stores in 7 years”, which he achieved. The company now has over 300 stores, employing over 3,000 full and part time staff across New Zealand, Australia, Canada and the United States generating revenue of over half a billion Australian dollars a year. 

Sir Michael is the company’s Founder President and his daughter, Emma Hill, is the Chairperson of the board. In addition to 297 Michael Hill branded stores across the world the company has opened 16 Emma & Roe branded stores in Australia and New Zealand since 2014 and has recently announced another 12 to open in the next year.

Emma Hill believes the ASX listing is a natural progression for the business since the executive team, the head office of the company and jewellery manufacturing facilities are based in Australia and the international operations are all run from Brisbane. “ Over 60% of our stores and revenue come from Australia. Over 80% of our revenue and profits is generated outside of New Zealand. We’ll still be listed on the NZ stock exchange as well as here in Australia. It’ll be a dual listing. This will make the company more accessible for Australian investors. Our figures are all in Australian dollars. New Zealand shareholders can still receive their dividends in NZ$. The ASX listing will complete the evolution and strengthen the company’s positioning for future growth “ says Emma Hill.

TO INTERVIEW EMMA HILL email max@marksonsparks.com or call Max Markson on 0412501601