Mr Price Group

Mr Price Group Limited

Company type	Public
Traded as	(JSE: MRP)
ISIN	ZAE000200457
Industry	Retail
Founded	1985 (1985)
Founder	Laurie Chiappini Stewart Cohen
Headquarters	Durban, KwaZulu-Natal, South Africa
Number of locations	3,000+ (2024)
Area served	Africa
Key people	Mark Blair (CEO) Praneel Nundkumar (CFO)
Products	Apparel Sportswear Linen Homeware
Brands	MRP MRP Home MRP Sports MRP Kids MRP Money MRP Mobile
Services	Financial services Telecoms
Revenue	R37.9 billion (2024)
Operating income	R4.6 billion (2024)
Net income	R3.4 billion (2024)
Total assets	R29.8 billion (2024)
Total equity	R15.4 billion (2024)
Number of employees	32,000+ (2024)
Subsidiaries	Sheet Street Milady's Studio 88 Yuppiechef
Website	www.mrpricegroup.com

Mr Price Group (officially Mr Price Group Limited, and stylized in lowercase) is a major South African retail group, operating under numerous divisions, across multiple distinct retail categories, with stores in numerous African countries. It is one of South Africa's largest retail groups, by number of stores and annual revenue. Mr Price Group is a public company, listed on the JSE.

Established in 1985, the group has over 3,000 stores across 9 divisions, and is a level 6 BBBEE contributor.

Mr Price Group is the highest-ranked apparel and homeware retailer on the FTSE/JSE Top 40 Index, ranked at 32nd place for market capitalization. The group employs over 32,000 people.

History

Mr Price Group was founded in 1985, with the opening of the first Mr Price clothing store in Klerksdorp, by Laurie Chiappini and Stewart Cohen. Their goal was to provide fashionable offerings to South Africans at competitively low prices.

The group expanded over the years, with the Milady's women's clothing brand starting in 1987, following which, the co-founders acquired ownership of the group from BOE, in 1991.

The group's linen chain, Sheet Street, opened in 1996, and the standalone homeware chain, Mr Price Home, commencing operations in 1998.

The group launched the Mr Price Foundation, a nonprofit organization (NPO) in 2005, with a focus on improving youth unemployment and education quality.

The group further expanded its operations in 2006, by launching the standalone sportswear chain, Mr Price Sport. The following year, the group launched Mr Price Money, offering credit and insurance facilities to consumers. Its financial offerings are registered under the group's Associated Credit Specialists company.

In 2012, the group launched its online retail channel, and reached 1,000 stores in 2013.

Mr Price Group then expanded into the cellular market in 2014, launching Mr Price Mobile as a South African mobile virtual network operator (MVNO). This telecoms offering then grew to include Mr Price Cellular, whereby the group began retailing mobile phones and accessories, compatible across all local cellular networks.

In 2021, Mr Price Group acquired South African homeware retailer Yuppiechef, as well as low-cost clothing retailer Power Fashion (formerly Otto Brothers).

The group acquired South African athletic apparel retail chain, Studio88, in 2023. In the same year, the group merged Mr Price Kids and Mr Price Baby into a standalone Mr Price Kids retail chain.

Mr Price Group has shown continual recent growth, and the company opened 238 stores during its 2024 fiscal year, with telecoms being the fastest growing segment. The group announced in June 2025 that they planned to open a further 200 stores during their 2026 fiscal year.

Operations

As at June 2024, Mr Price Group operated under the following divisions:

• Mr Price (599 stores)
• Mr Price Home (229 stores)
• Mr Price Sport (175 stores)
• Mr Price Kids (31 stores)
• Mr Price Mobile (41 stores)
• Mr Price Money (not standalone)
• Miladys (266 stores)
• Sheet Street (354 stores)
• Power Fashion (295 stores)
• YuppieChef (20 stores)
• Studio 88 (890 stores)

In terms of the group's retail category split, in 2025, 79.7% of its sales came from apparel, 17.1% from homeware, and 3.2% from financial services and telecoms.

The group operates across numerous African countries. Out of its 2025 total of 2,900 stores, 2,665 were located in South Africa, with the remaining 235 situated in other African countries (with 80 in Namibia, 63 in Botswana, 26 in Eswatini, 24 in Lesotho, 15 in Zambia, 13 in Kenya, 11 in Mozambique, and 3 in Ghana). In the same year, online channels contributed a total of 2.1% of the group's sales.

Mr Price Group's sales are generated predominantly in South Africa, with the company's home country comprising a total of 92.2% of total sales, and Africa making up the remaining 7.8%. However, in 2024, South African sales grew by 15.5%, compared to the rest of Africa sales for the group growing by 25.4%.

Mr Price Group targets predominantly younger, middle-income customers. The group uses a low-cost business model, and has the lowest operating expense per square meter cost in the South African retail space. In its 2024 fiscal year, the group reported that it had 4.1 million customers.

The group has partnered with South African delivery company, Pargo, for click and collect lockers. Mr Price Group operates over 900 such lockers as delivery options for its customers.

Corporate social responsibility

The group operates the Mr Price Foundation, founded in 2005. A registered nonprofit organization (NPO) the Foundation focuses on improving youth unemployment and education quality.

As of June 2025, Mr Price Group had 47 million products that contained sustainable materials, and had removed 45 million plastic shopping bags from circulation. The group is committed to the United Nations Global Compact (UNGC) Principles and uses the Sustainable Development Goals (SDGs) to inform its disclosure. It is also a signatory of the Retail-CTFL Master Plan 2030 of South Africa, in which it played a major role developing.

The group participates in membership organizations including the Ethical Trading Initiative (ETI), the National Credit Retail Federation (NCRF), the Forestry Stewardship Council (FSC), Proudly SA, and various Producer Responsibility Organizations (PROs).

Mr Price Group partners with The Clothing Bank and The Clothing Box, both economic empowerment projects in South Africa focused on prolonging product usage and reducing excess merchandise.

External links

• https://www.mrpricegroup.com/