Legendary New Zealand jewellery magnate Michael Hill has died aged 86, after being diagnosed with cancer in April.

The New Zealand-born businessman stepped down from the board of Michael Hill Jewellers in April, to focus on his health.

His death was confirmed by his company on Tuesday in a statement.

‘It is with great sadness that Michael Hill International Limited announces the passing of our Founder and Non-Executive Director, Sir Michael Hill this morning,’ they began. 

‘Sir Michael was a celebrated jeweller, entrepreneur, philanthropist and committed father and husband.

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Legendary New Zealand jewellery magnate Michael Hill has died aged 86, after being diagnosed with cancer in April

The New Zealand-born businessman stepped down from the board of Michael Hill Jewellers in April, to focus on his health. Pictured with Kim Kardashian in 2010

‘With his wife Lady Christine, he founded and grew Michael Hill from its humble beginnings in Whangārei, New Zealand to a global retail jewellery brand that spans Australia, New Zealand and Canada.

‘The Board, Executive and all the Michael Hill team express their deepest and sincerest condolences to Michael’s family and friends.’ 

He launched his first jewellery store in Whangārei in 1979, laying the groundwork for a global retail empire with hundreds of stores.

Today, the brand operates 287 stores across Australia, New Zealand and Canada.

Its headquarters are based in Brisbane and the corporation is listed on both the NZX and ASX.

He died at his family home in Arrowtown, on New Zealand’s South Island, after a long battle. 

Hill’s iconic jewellery was worn by some of the world’s most famous stars.

In 2010, he teamed up with Kim Kardashian he launched a business venture with US reality TV star Kim Kardashian, to find the ‘world’s best couple’.

His death was confirmed by his company on Tuesday in a heartbreaking statement. Pictured with his daughter Emma

Hill is survived by his wife Christine and their two children

The pair offered a 22-carat Michael Hill diamond engagement ring as a prize to the winners. 

New Zealand Prime Minister Christopher Luxon paid tribute to Hill in a statement.

‘Sir Michael Hill’s aspiration, grit, and determination to succeed not only built a globally recognised brand, but also inspired generations of Kiwi entrepreneurs to dream big,’ Luxon began. 

‘He built a brand from scratch and gave back to the country that he loved. May he rest in peace.’ 

His jewellery empire was worth over $700m worldwide and Hill had a personal net worth of around $300m. 

Hill was knighted in 2011 for services to business and the arts. 

He is survived by his wife Christine and their two children, Mark and Emma.