As reported by RagTrader, Michael Hill will wind down Medley by the end of this financial year, while TenSevenSeven and Watches Galore will be ‘merged’ into existing operations across Michael Hill and Bevilles stores.
According to the report, the popularity of TenSevenSeven has highlighted the increasing popularity of custom-made engagement rings. This has prompted the company to trial custom-ring building offerings across its store network.
“In the presentation, Michael Hill confirmed that around 14 per cent of Michael Hill’s total store network globally is in locations where both of its brands (Bevilles and Michael Hill) operate in overlapping catchments in terms of price points,” writes Christopher Kelly.
“In Australia specifically, that overlap jumps to 30 per cent. Amid the portfolio shrinking, Bevilles is continuing its reset. Since being acquired by Michael Hill in April 2023, Bevilles’ head office and distribution centre were relocated closer to Michael Hill’s Australia HQ in Queensland, and broadened the product range.
“The group is projecting leadership changes up to December 2026 this year, alongside a product reset and revised customer value proposition.”
Michael Hill International operates 282 stores worldwide – with 122 in Australia, 81 in Canada, and 43 in New Zealand, in addition to 36 Bevilles stores exclusively in Australia.
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