[ad_1]
Australian jewellery retailer Bevilles will relocate its corporate head office and distribution centre from Melbourne to Brisbane later this year.
This development comes one year after Michael Hill International (MHI) announced its acquisition of Bevilles for $45.1 million in April of 2023.
Bevilles was founded in 1934 by Leo and Raie Beville, beginning with a store in Bourke Street in Melbourne.
The relocation is scheduled to be completed in July with the alignment of Bevilles and Michael Hill in Queensland expected to reduce operational expenses.
In a statement, MHI CEO Daniel Bracken said that improving operational efficiency was an essential priority given the current economic climate.
“The Bevilles relocation is not only a reflection of our strong focus on managing operational costs in the current retail environment but an excellent opportunity to leverage the Group’s existing infrastructure, systems and expertise to drive Beville’s operational performance and customer experience,” he said.
This is the latest change from MHI since acquiring Bevilles. In February, it was revealed that Bevilles has withdrawn its membership with the Jewellers Assocation of Australia.
Jeweller’s 2024 State of the Industry Report found that MHI had 141 stores in Australia, while Bevilles had 30 stores across New South Wales, Victoria and Queensland.
MHI recently announced that it would begin ‘rebadging’ certain Michael Hill stores under the Bevilles brand. The retailer’s store count is expected to increase to 36 by July.
MHI operates more than 300 stores worldwide and reported a 4 per cent increase in sales in the first half of the financial year.
More reading
Facelift: Michael Hill announces brand ‘refresh’
Sales analysis: Michael Hill identifies positive signs
Membership blow: Major jewellery chain quits JAA
Economic pressure: Michael Hill announces store closures, job cuts
Michael Hill discusses acquisition with rival retailers
Done deal: Michael Hill takeover of Bevilles complete
Michael Hill and Bevilles: History never repeats itself, but it does often rhyme
[ad_2]
Source link
