Mid-Market Industry Spotlight
Michael Hill

Michael Hill

Michael Hill has risen from modest beginnings in Whangarei in the late 1970s to hold a large slice of the jewellery market in the Oceania region, but in North America, where the brand is relatively new, market share is a goal rather than a reality.

“We are essentially operating start-up business in the US with nine stores in the Chicago region, and to a lesser extent the Canadian market where we have been for 10 years now,” said Phil Taylor, Michael Hill’s Global CFO.

“We’re close to reaching maturity in our New Zealand and Australian operations so we see the US and Canada as our main growth opportunities for the next few decades.” While the company’s New Zealand revenue sits above the Mid-Market definition, the company has many Mid-Market attributes, particularly in the challenges it faces with its overseas expansion.

When managers share in the store’s success, they are more likely to drive the business forward and develop great staff while keeping control of costs, which is essential in maximising profit, particularly in our mature markets like New Zealand and Australia.

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