Jennifer Hawkins $4m Birthday Present

Miss Universe Jennifer Hawkins has signed what is believed the most lucrative contract ever for an Australian-based model.

Hawkins secured a $4 million, four-year deal with Myer, including share options to give her a direct equity stake, on her 23rd birthday on December 22.


Celebrating yesterday she said: "We opened a bottle of champagne and I said: 'Don't give me any presents, I don't need them'."

Myer chief executive Bernie Brooks said Hawkins's phenomenal selling power was the driving force behind the company's interest.

"When Jennifer wears a dress to say a racing carnival, we would have no difficulty selling 1000 of those dresses over the ensuing weeks," he said.

He said during the Spring Racing Carnival last year people came into Myer stores every day after Hawkinso wore a particular outfit, looking for that outfit or one in different colours.

"She has significant enterprise value and that includes her ability to sell the product she wears and endorses."

Hawkins said yesterday the shares element of her deal came as a shock.

"It's not something I was familiar with," she said.

"I spoke to my mum and dad and they said 'whoa, it's amazing'.

"Now that I've got equity it makes me want to work even harder to make the company successful," she said.

Under the terms of the contract, the options will turn into shares on fulfillment of any one of three conditions:

- THAT the Myer business is sold;

- THAT Myer refloats on the stock market; or

- THE option expiry term of between three and five years elapses.

The shares will then begin to pay dividends to their owners.

Whichever way it goes, the one-time Newcastle Knights cheerleader looks set to do very well.

In addition to almost $1 million a year in cash and an as yet unspecified number of shares, she's also on course for a bonus at the end of the contract.

"At the end of the four-year period, if specific levels of sales have been achieved she can earn a cash bonus as well," Mr Brooks said.

A Myer source said the company was planning to relist on the stock exchange through an initial public offering of shares as early as 2009.

"I think they'll want Jennifer Hawkins to be the face of the float," the source said.

Rival David Jones, which employs Megan Gale under an annually reviewed rolling contract, hinted that Ms Gale might own shares in the share market listed retailer.

"Megan is very motivated for David Jones to be successful," was all group general manager marketing and financial services manager Damian Eels would say.