The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Australian Jeweler Michael Hill to Exit US Market
It is shuttering the nine stores left in its “loss-making” operations in the country.
Brisbane, Australia--After nearly a decade in the United States, jeweler Michael Hill International is shuttering its retail locations here and exiting the market.
The company launched in the U.S. in 2008, buying 17 stores in the Midwest from Whitehall Jewelers after it filed for Chapter 11 bankruptcy.
The stores have “struggled to provide a return for the group” since then, the company said, calling its operations here “loss-making.”
It closed about half its stores in the middle of the recession in 2010, then, five years later, tried again with a few new stores in the New York metro area.
Michael Hill International said that despite new marketing initiatives to improve brand awareness and capture market share in the U.S., as well as an ongoing review of its store portfolio, the challenging retail environment of the market has “prevented it from improving its financial position.”
In its half-year fiscal results for the six-month period ended Dec. 31, the company said U.S. same-store sales were down 10 percent.
The jeweler said its remaining nine stores across the country—six in Illinois, one store in the Mall of America in Minnesota and two near New York City—will continue to operate as the company negotiates and completes the exit of its U.S. operations.
“Our time in the highly competitive U.S. jewelry market taught us a lot and helped to strengthen our core business, including the development of our bridal collection strategy and the development of our professional care plan,” CEO Phil Taylor said in a statement. “However, our U.S. operations have not gained sufficient traction in recent years and the level of capital required to scale-up the business is not warranted under current trading conditions.”
More information, including the financial impact of the closures and the number of employees that will be impacted, will be released at a later date.
After the U.S. stores close, Michael Hill International’s store count will number as follows: 172 in Australia, 53 in New Zealand and 83 in Canada.
The company said its businesses across the three regions continue to perform strongly.
The Latest
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The announcement came as the company reported a 23 percent drop in production in Q1.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.