The ink is barely dry on the agreement and former Michael Hill CEO Mike Parsell, new joint md at Secrets, is sharing his plans for growth.

“The jewellery industry is very competitive and we see brands with a clear niche will win longterm, particularly internationally,” he tells Inside Franchise Business.

And Secrets will be taking advantage of niche retailing; it’s back on a growth trajectory, he says.

The business started as a franchise and grew through the 2000s up to about 26 stores. There are now just three franchisees in a network of only eight outlets.

A franchise structure has plenty of potential he believes.

“We’re looking at that as part of our strategy for growth. We’re getting our heads around the Code, and see a definite advantage in franchising.”

Parsell predicts a combination of both franchised and corporate outlets as the network grows.

Company owned outlets help validate the system, he says.

“I think that’s a healthy approach as a retailer, you need to have experience yourself and develop and evolve.”

But it is the franchise model that will be taking the Secrets brand overseas. Parsell and fellow managing director and Secrets founder Jane Meredith are looking to parts of Asia, north America, the UK and Europe to spread the word about the jewellery brand.

Parsell has more than 36 years’ experience in the fine jewellery industry and during his 16-year tenure as CEO of Michael Hill expanded the number of stores to more than 300 across Australia, New Zealand, Canada and the US.

Right now the business will go through a period of consolidation before taking steps to expand its footprint around Australia and further afield.

“There are some very good and capable people at Secrets. That’s a really good base to build on and work out, how do we structure? We are beginning with the executive team.”

Sue Szylvester, previously chief marketing officer at Michael Hill, has been consulting to the Secrets business for 18 months and now joins the team in an official marketing capacity.

It’s about providing good skill sets to benefit franchisees, Parsell says.

When the foundations are solid, attention will be focused on building up a strong network of outlets.

“We feel there will be very strong potential with a revived offer.”