The company was placed into voluntary administration in December 2025.
Under the management of insolvency firm FTI Consulting, Secrets International Pty Limited and its subsidiaries (trading as Secrets Shhh) has been sold to Amaar Jewels, a privately-owned jewellery group headquartered in Dubai, United Arab Emirates.
At the time, John Park, head of Australia corporate finance and restructuring said, “The business is trading as usual as much as possible while the Administrators undertake an urgent assessment of the company’s operations, and have commenced a sales process and/or recapitalisation of the Group.”
Under the terms of the transaction announced on 20 January, the majority of retail stores will transfer to the buyer, with the sale preserving employment for more than 100 staff.
It also advised that the transaction will ensure continuity for customers, employees, and key stakeholders, while enabling the brand to move forward under new ownership.
Joint administrator, Kelly Trenfield said: “This transaction represents a significant milestone in securing the ongoing operation of the Secrets Shhh brand and provides a strong foundation for its continued presence and growth across the Australian retail market.”
Amaar Jewels currently operates 16 stores throughout the Middle East including Dubai, Abu Dhabi, Kuwait and Iraq. It also has a store in Mumbai, India.
The administrator's media release also states that the company has “plans to invest in and grow the Secrets Shhh brand, building on its strong foundations in the Australian market.
"The group intends to expand the product offering through the introduction of new collections, with an increased focus on lab-grown diamond jewellery set in precious metals such as gold and platinum, reflecting evolving customer preferences for design, quality, and sustainability.”
As previously reported, Secrets Shhh has had a topsy-turvy history.
The vertical integrated retailer was launched in 2000 by Jane Meredith, along with friend Dietmar Gorlich, in Noosa, Queensland. It specialised in diamond simulant – cubic zirconia – jewellery.
Background reading: Facts, Figures, Fallacies and the Future of the jewellery industry
Under a franchise model, it quickly grew to 26 stores across Australia and New Zealand before the 2007–2008 Global Financial Crisis took its toll, as it did on so many retailers.
Secrets Shhh was first listed in Jeweller’s 2010 State of the Industry report with 18 stores; however, its store count reduced in the ensuing years.
In April 2017, the number of Secrets Shhh stores had fallen to only seven – four company-owned and three franchised.
At that point, former Michael Hill International (MHI) CEO acquired a majority stake in the business and reinvigorated the retailer.
Parsell was well-placed for the task; he had been with MHI for 30 years and was responsible for establishing the New Zealand jewellery chain in Australia in 1987.
The 2024 State of the Industry Report recorded 25 stores.
However, late last year the administrators took control of nine entities, collectively called ‘Secrets’, and called the first meeting of creditors for Friday 19 December 2025.
More reading
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Secrets Shhh continues to expand store count
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