What have you been up to this week?
Quite a lot. I just got back from overseas for the Michael Hill International Conference in Hawaii. We had 400 managers and trainees at Waikiki for three days. Our annual conference is a great culture-building event where we discuss the future, our vision, review the year that's been and recognise our high performers. We all had a great time. I introduced my new designer bridal collections, inspired by my love for music.
It’s a range I’m very proud of. We are celebrating the opening of our 300th store this week. It’s a stunning flagship store in Auckland on Queen St that represents the evolution of our brand over the past 36 years. My new designer bridal collections are showcased there. Three hundred stores is quite a milestone. Now, however, we have our sights firmly set on 1000 stores and being a global brand.
How much involvement do you have in Michael Hill Jeweller now that you've stood down as chairman?
There is a huge amount of work that goes into effectively chairing and leading the board and the company and [daughter] Emma is now taking this role. She has my full support and confidence, and the support of the board. Internally, this change has been very well-received.
Over the past four years as deputy chair and over the past 30 years working in the company, she has demonstrated she is ready for this position. I will remain on the board as a director and I'm as passionate about this business as I was when I opened my first store. I will continue to be involved as founder ensuring we achieve our ambitions.
How has your wardrobe changed since you've stepped down?
Nothing has changed there.
What advice did you give Emma before she became chairwoman?
Emma has had lots of advice from me over the 30 years she has been with the company. She has seen no favouritism from me in seeking a position at Michael Hill. I think in many ways it's been harder for her than anybody as she has had to prove beyond doubt that she's there on merit, not name. She did an MBA and graduated the top student of her class with distinction.
She’s incredibly driven, and she started on the shop floor and worked her way up through the ranks. She has learnt all aspects of jewellery retailing including establishing Michael Hill in Canada from scratch. This was an enormous learning curve. I guess my advice would be to keep her life simple, don’t become too bogged down and try to do too much. Free yourself up to see the big picture, and operate at 30,000ft not 3ft.
How do you think her leadership style differs from yours?
She brings a structured, disciplined approach, which complements my entrepreneurial style. We share the same vision and I know she will be relentless in ensuring we achieve our ambitions.
What are some of your earliest memories of Emma working in the business?
At 7, she would stand on a box over the counter. This is when she started learning to sell with me.
Some say that mixing family and business should be avoided at all costs. What's your take on that?
There is nothing as powerful as having the business in your DNA. We all care deeply about the business. It's the family name above every door, and that makes for a strong and valuable culture. I think, however, some families lack honest and open communication, which creates conflict and tension.
We have four formal family meetings a year, with [son] Mark and his wife, Emma, Christine and myself, and our trustees where everything is discussed. We have a structured agenda to review our businesses, so everyone is fully informed. It keeps us close and keeps the communication open. This is the key to family growth and fulfilling our objectives. When a family works as a team it is a powerful force. Our meetings bring respect, trust and loyalty.
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Advertise with NZME.What are the priorities for the company in the year ahead?
Building a platform for the next stage of growth from our solid foundations. We have a number of things on trial at the moment. Our Emma and Roe brand caters to the changing way women are wearing jewellery, and their desire to customise and individualise their look. We have eight Emma and Roe boutiques selling unique jewellery collections on trial. This could eventually grow into a brand of several hundred shops across Australasia and the world.
We are also focusing on our designer collections within the Michael Hill brand. These are proving to be very well received across Canada and the US and we will be bringing them to more New Zealand and Australian stores this year. We have opened recently in New York and are opening our next store there in a month. It’s going well. It’s a very tough market but signs are looking positive. Canada — we plan to open another 25 shops over the next three years and hope to dominate that market, which is cool.
What are your priorities? What would you like to achieve next?
I'm very goal-driven, making sure that the goals happen. We have a well-tuned board, very focused. Retail is getting tougher but it gives us an opportunity to push when others are backing off.
Is there anything unusual piquing your interest right now?
I'm a great believer in the 80:20 rule, which gives me free time to think. People who spend more time thinking get more done. Every day is an exciting day as I concentrate on achieving the 20 per cent of tasks that are really important and eliminating the rest.
What are the most important life lessons you've learnt from building your business?
You're only as good as the people you employ so make sure they are the very, very, very best. Train, inspire, and train them again. Once they are fully trained, step aside and let them do the job. Set ambitious goals, and once you have achieved them, set more. Learn never to make the same mistake again. Make quick, decisive decisions and never procrastinate by over-analysing. Break the rules or you will never be truly creative.
