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Former Michael Hill CEO partners with Aussie competitor Secrets

  • Who's Where
  • April 4, 2017
  • Sarah Dunn
Former Michael Hill CEO partners with Aussie competitor Secrets

Mike Parsell stepped down as chief executive of Kiwi jeweller Michael Hill International in August last year. He’s now joined competing jeweller Secrets as its managing director.

In more than 35 years with Michael Hill, Parsell took the company from its humble beginnings in Whangarei to more than 300 stores. In delivering his resignation to the board, he noted he had taken the group’s annual revenues from $160m to $540m during his 16 years as CEO.

“The business has been successfully expanded into international markets and has ample growth opportunities on the horizon with the continued roll out of Michael Hill stores in North America and the growth of our new brand Emma and Roe,” he then said.

“I feel now is a good time for a change in leadership as the business is performing well and has a stable and experienced leadership team.”

Parsell was replaced by another long-serving Michael Hill executive, Phil Taylor, who was appointed CEO in March 2017. Taylor has worked in the company since 1987.

Secrets was founded in Noosa, Queensland in 2000. The company’s branding is all about “attainable luxury”, providing bridal and fashion jewellery “that literally doesn’t cost the earth”. It has eight stores in Australia.

Founding director Jane Meredith says she’d been looking for somebody with the expertise to grow the brand, and found it in Parsell.

“Mr Parsell brings the high level of expertise, experience and knowledge of the industry that the business needs for continued success,” she says. “I’m particularly delighted that Mr Parsell shares my passion and commitment for the business and understands the uniqueness of the brand.”

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Michael Hill profit falls 66 percent

  • News
  • February 26, 2018
Michael Hill profit falls 66 percent

Michael Hill has announced its first-year profits, with a noted decrease of 66 percent. The drop-in profit has been attributed to the repositioning of Emma & Roe and the cost of exiting the US.

Read more
 
 

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  • News
  • February 23, 2018
  • Courtney Devereux
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  • News
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