Celebrating a milestone: Mr Price Group's journey to 3000 stores

The journey began in October 1985 when visionary co-founders Laurie Chiappini and Stewart Cohen opened the first store in Klerksdorp. "Our driving passion was to make fashionable offerings more accessible to South Africans at competitively low prices," said co-founder Stewart Cohen. "We also aimed to do business differently and better. We aspired to build a business driven by the values of passion, partnership, and value - where ordinary people could accomplish extraordinary things."

Reflecting on the company's growth journey, co-founder Laurie Chiappini shared, "When we look back, we remember the ups and downs that have led us to where we stand today. We started with boxes in an office, and today, seeing hundreds of trucks arrive at our distribution centre, we often have to pinch ourselves. Our ambitions were high, but the scale of the group today exceeds our wildest dreams. There's a profound sense of pride in what our people have achieved over the decades."

From its humble beginnings in Klerksdorp, Mr Price Group navigated a path of organic growth. In 1991, Laurie and Stewart acquired control of the group from BOE. At the time the group’s main trading divisions included Miladys, The Hub and Mr Price Apparel with a collective store count of 171. In 1996, the group entered the homeware sector through its acquisition of Sheet and by 1997 grew its store count to 458. Between 1998 and 2007, Mr Price Home, Mr Price Sport and Mr Price Money were launched - each new venture bolstering the group's organic growth and leading to its first significant milestone of 1000 stores in 2013. 

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During the COVID-19 pandemic, the management team took a strategic pause to reassess the group’s growth plans. By mid-2021, a new strategy was launched, positioning Mr Price Group for accelerated expansion. In the ensuing years, the group experienced exponential growth, with the store footprint soaring from 1400 to 3000 today. This expansion was fuelled by three key strategic acquisitions and continuous investment in existing brands. 

Driven by a bold vision to become Africa’s most valuable retailer, the group is now currently the highest ranked apparel and homeware retailer on the JSE Top 40 Index, ranked 32nd based on market capitalisation.

From its iconic red cap origins to today, Mr Price Group has evolved into a diverse business that covers the apparel, homeware, financial services and telecoms sectors, encompassing nine brands with 15 retail chains, driven by more than 32 000 associates.  

The Mr Price brand has also firmly established itself in the hearts and minds of South Africans and has consistently led the way in value retailing. Notably:

• Mr Price Apparel and Mr Price Home hold the highest brand equity in their respective sectors (Borderless Access | NIQ)
• The group has been recognized as the most valuable fashion apparel retailer in South Africa as reported in the Kantar BrandZ most valuable brands survey
• Mr Price Apparel and Mr Price Home are the most shopped apparel and homeware retailers in the country according to MAPS

Group CEO Mark Blair shared, “Over my years at the group, it has been a privilege to witness our associates' passion and commitment in continuing the legacy of the Mr Price brand, which our co-founders dedicated their lives to. What we have is a truly South African heritage brand, and we are proud to have played a part in its expansion in scale and impact, reaching the 3000-store milestone. We have been intentional in recent challenging years, ensuring we invested through a difficult cycle. We are confident that we have a strong platform for growth as we anticipate positive shifts in the economic and consumer environments.”

As we celebrate this extraordinary milestone, Mr Price Group reaffirms its commitment to delivering unparalleled value to its customers, driven by an unwavering passion for fashion and a steadfast promise to serve all South Africans.

Mr Price Group – Your Value Champion. DM