about us

Quick overview

Mr Price Group Limited is an omni-channel, fashion value retailer.

The Group retails apparel, homeware and sportsware through owned and franchised stores and online channels in Africa and Australia.  Merchandise is predominantly own-branded and targeted at younger customers in the mid to upper LSM categories.

our history background

Fashion

Our business model is synonymous with offering fashionable merchandise at "everyday low prices".

How do we satisfy our customers’ need for fashion?

  • Specialist trend teams, frequent international travel and thorough research
  • Active dialogues through social and digital media
  • Responding to customers’ changing fashion needs
  • Product testing before making significant merchandise commitments
  • Slow moving merchandise cleared to make way for fresh, new merchandise

Value

The value model is at the very core of the group’s existence. Being a value retailer means lower markups and selling higher volumes in order to offer "excellent value".

Increasing sales + low overhead structure = acceptable operating margins

  • Quality and fashion offered at the best price
  • Lower mark-ups in order to offer “everyday low prices”
  • Maintain balance by incurring costs for future growth, often ahead of revenue generation
  • Large order quantities and higher sales volumes to keep input prices low
  • Retail predominantly own-branded merchandise

Cash

Remaining a cash driven retailer with cash sales > 80% of total sales

A high cash sales component means:

  • Less impacted by the cyclical nature of retail
  • Not dependent on credit to drive sales, particularly during poor economic times
  • Less exposed to bad debt
  • Able to fund future growth without incurring debt
  • Strong cash flows will support future growth and maintain an appropriate dividend payout ratio

Company profile

Contribution to Group Turnover

The group consists of five trading divisions divided into two segments of Apparel and Home.

contribution to group turnover

Performance Record

performance record
our value video placeholder

Awards and accolades

jse

mrp

  • Winners of Male & Female clothing categories in the Ask Africa Youth Brand survey
  • Sunday Times Generation Next award – voted ‘Coolest Clothing Store’ by SA’s youth for the 4th consecutive year

jse

mrpHome

  • Rated 'most loved South African homeware brand' in Nielsen's survey
  • Ask Afrika Award – winner of the bedding category in the 2016/17 Icon Brands Survey
  • Times Sowetan Shopper Survey – second in the home accessories and décor category

jse

mrpSport

Sponsored athletes in Maxed shoes won 3 gold medals at the Two Oceans Marathon and won the Comrades Marathon


jse

Sheet Street

  • Icon Brand Award: voted winner in the Home & Decor Retail Category
  • Times Sowetan Shopper Survey – best in the home accessories and décor category
  • Daily News Your Choice – best linen store

top 100

Mr Price Group

  • Ranked 3rd in the Financial Mail Top Companies 2015
  • Ranked 17th in the Business Times Top 100 companies (highest ranked retailer)
jse

mrp

Nielsen's research - retained top position for 'top of mind awareness and brand equity'. Held 'value' position & increased 'fashion' perception.


jse

mrpHome

Nielsen's research - highest top of mind awareness & strongest brand health

jse
top 100
mcsi

Mr Price Group

  • Included in the Socially Responsible Index (SRI) of the JSE
  • Included in the JSE Top 40
  • Ranked 4th in the Business Times Top 100 companies (highest ranked retailer)
  • Included in the MSCI Emerging Markets index
Top Companies
IAS
WRA
Sunday Times
IAS
BEE Score

Mr Price Group

  • 3rd in Financial Mail Top Companies 2013 (5 year IRR on share price) Top placed retailer
  • Voted leader in corporate reporting in ‘retail services’ and ‘overall’ categories.
  • Finalist in Emerging Market Retailer of the Year Category (2nd year)
  • 6th in Sunday Times Top 100 Companies 2013 (5 year CAGR in share price and dividends)
  • Voted leader in Reporting and Communication in the Retail Services sector as well as overall winner across all sectors.
  • BEESCORE is a SANAS accredited BEE verification agent with a national footprint: Mr Price Group was independently accredited as a level 6 B-BBEE contributor.

Ask Afrika

Mr Price Home

Named industry winner: customer service levels in Home and Décor category


The Times Sowetan

Sheet Street

Named Homewares Retailer of the Year: Home Accessories and Décor category

World Retail Awards
MCSI
Sunday Times
IAS

Mr Price Group

  • Finalist of the World Retail Awards 2012 in the Emerging Market Retailer of the Year Category
  • Included in the MSCI Emerging Markets Index from May 2012
  • Ranked top of the JSE for total shareholder returns over 10 years by the Sunday Times in May 2012.
  • Voted leader in corporate reporting in the consumer services sector

Ask Afrika
Daily News

Sheet Street

  • Named the industry winner for customer service levels in the Home and Décor category.
  • Won first place in the Best Linen Store category.

IPN
The Jobs Fund

RedCap Foundation

  • The YoungHeroes programme received an Honorable mention in the Africa category at the IPN Global Best Awards. This award recognises the programme’s achievements under the category of “partnerships that support health, wellbeing and learning in Africa.”
  • R17.5 million grant awarded to the RedCap Foundation's Jumpstart programme by the National Treasury's JobsFund.
MCSI
IAS
BEE SCore
Best Employers

Mr Price Group

  • SAGRA (South African Graduate Recruiters Association)
    The Mr Price Group recruitment team scooped up three medals at the SAGRA awards 2011, for outstanding examples of excellence in graduate recruitment. The three awards won were in the following categories:

     

    1. Gold for Best Graduate Website
    2. Silver for Best Integrated Campaign
    3. Bronze for Best Printed Media

    Therefore placing the Group in first place overall!

  • Won Section 11 - Best Presentation to the Society in 2010/2011 - companies with market capitalisation between R5 billion - R20 billion.
  • BEESCORE is a SANAS accredited BEE verification agent with a national footprint: Mr Price Group was independently accredited as a level 6 BBBEE contributor. The Group completed its first BBBEE verification exercise for the year ended 2011 and is proud to announce that it has been accredited as a level 6 contributor.
  • Best employers South Africa: Based on independent research by the CRF Institute: Mr Price Group has been certified as one of the BEST Employers™ South Africa 2010/11. The Group continues to remain committed to talent management and excellence in the employer framework, therefore enabling the group to remain one of the best companies to work for in South Africa.

TGI
Next Generation
Bateleur

Mr Price

  • TGI (Target Group Index) SA
    Superior consumer trend profiling:
    Icon brands are brands that exist in every home in South Africa, they are brands that people not only know about, they actually own and use them. The 2011 TGI ICON Brand Winner Ranking: Mr Price is ranked 9th as a brand that is used and loved by all South Africans.
  • Won this award for two consecutive years for having the coolest fashion and accessory store.
  • For the fourth consecutive year, independent research conducted on the target market by Bateleur Khanya, placed Mr Price Apparel as South Africa’s most loved and most frequented retail apparel brand.

Bateleur

Mr Price Home

For the fourth consecutive year, independent research conducted on the target market by Bateleur Khanya, placed Mr Price Home as South Africa’s most loved and most frequented homeware brand.


Daily News

Miladys

Daily News Your Choice Award:
Won first place for the Best Ladies Clothing Store.

Next Generation

Mr Price

Won this award for two consecutive years for having the coolest fashion and accessory store.


Retail Awards

Mr Price Sport

Second Runner up in the Specialist Store/Outdoor Store category.


Daily News

Sheet Street

Placed first in the Home & Décor category.


Daily News

Miladys

Won first place for the Best Ladies Clothing Store.

Mail and Guardian

Miladys

Orange Index Award for Excellence in Customer Service:
Miladys was placed first in the Clothing Retail Industry category. The Orange index is an independent benchmark of service levels and best-in-class companies.


Mail and Guardian

RedCap Foundation

Mail & Guardian Investing in the Future award:
Mr Price Group and the RedCap Foundation won two awards for investing in CSI (Corporate Social Investment):
The Group was awarded in two categories:
- Best Corporate Award (for investing in Education through the work of the RedCap Foundation)
- Sports Development Award (for investing in Mitchell’s Plain Soccer Project)


Retail Awards

Mr Price Home

Retail Awards:
Mr Price Home won the Home and Lifestyle Stores category, which, inter alia, measures the range of products sold and value for money.


Mail and Guardian

Miladys

Orange Index Award for Excellence in Customer Service:
Miladys was placed first in the Clothing Retail Industry category. The Orange index is an independent benchmark of service levels and best-in-class companies.

Vision, purpose & values

Our Vision

To become a top performing international retailer.

Our Purpose

To add value to our customers’ lives and worth to our partners’ lives, while caring for the communities and environments in which we operate.

Our Values

passion

Passion means ordinary people doing extraordinary things. Its our engine and positive attitude and enthusiasm of all our associates who approach each day bright-eyed, smiling and projecting a positive image – believing work is fun.

value

Value is the heart of our business and we strive to add value in everything we do. It is more than just product, it is the way we service the business, each other and our customers. Value is about doing more than what is expected or required.

partnership

Mutual respect is integral to the culture of the Group.  We therefore refer to our co-workers as "associates" and, once they own shares or share options, they are referred to as “partners”.  Partnership is sharing the ownership and success of the Company with all our associates and fostering solid and long term relationships with our suppliers.  Without our customers, we wouldn’t have a business, and they are one of our most valued partners.  We also partner with communities, by investing in strategic initiatives that will improve the lives of those who are less fortunate, particularly children and youth.

Divisional overview

Mr Price Group comprises the 5 retail trading divisions of mrpmrphome, mrpsport, Miladys and Sheet Street. In addition, mrpmoney offers credit, insurance and mobile products across the retail omni-channels.

Timeline

Mr Price Group's corporate history began in 1885 with the opening of the first John Orrs stores. The history most relevant to the group's current operations began in 1986 with the Founders, Laurie Chiappini and Stewart Cohen.
 
mrp opens test stores in Australia
2016
In October 2015, mrp opened 2 test stores in Melbourne, Australia. On the ground experience is proving invaluable, and each season is enabling us to develop a deeper understanding of the Australian consumers’ merchandise needs. Further attention is being focused on enhancing the supply chain and store operating metrics, so that a clear, scalable blueprint can be established. mrpHome will also be opening a store in Australia, in October 2016.
2015
Launch of mrpmobile
To date, the focus has been on post-paid contracts, offering competitive smart phones and tablets to creditworthy store card customers. Future opportunities, which include the sale of prepaid airtime products to Group cash customers, an online offering and valueadded services like wi-fi hotspot, streaming music and device insurance, provide additional benefits and derive good margins.

visit mrpmobile.com
Mr Price online goes global and also becomes the first international online store to launch in Nigeria.
2014
In March 2014, an online site was launched in Nigeria with fulfilment from our Ikeja store. Initial results were pleasing, as well as proving that we can successfully operate an online business within specific markets without having to install major infrastructures.
2013
Mr Price launches its online store
Launched on the 30th July 2012, at a high profile event held at Mr Price Head Office that included South Africa’s who’s-who in the fashion and media industry, www.mrp.com has enjoyed an almost fairy tale experience to date. Constant and positive social media feedback is testament to the fact that Mr Price has set the benchmark in online shopping in South Africa, so much so that it also became the most searched retail brand on Google in South Africa for 2012, despite only launching 7 months into the year.
First Corporate owned Mr Price store opens in Lagos, Nigeria
2012
Demand for retail outlets in Africa’s most densely populated country, Nigeria, has increased significantly over recent years, driven by rising urbanisation and consumerism, as well as the swelling middle class. The lifting of the ban on imported goods in Nigeria last year, provided the opportunity to trade in this growing economy and the Group’s first test store in Lagos opened in March 2012.
2011
25th anniversary of change in control
25 year compound annual growth rate
Headline earnings per share = 23.5%
Dividends per share = 25.3%
Share price = 26.2%
Our sustainability journey begins
2010
We are committed to the advancement of Sustainable Development. Understanding the interests and expectations of stakeholders and engaging with them is critical if we are to deepen and extend relationships. This will be the departure point for developing the sustainability roadmap.
2009
Mr Price Sport achieves national footprint
Independent research conducted by Bateleur Khanya revealed that shoppers are very staunch advocates of the brand and the brand affinity score of 6,6 is exceptional for a new business. The division expects to record further gains in market share as consumers continue to respond to the authentic value-driven offer.
Increasing brand awareness and affinity by customers
2008
  • This year Mr Price Home is voted the most loved and most frequented homeware retailer.
  • Mr Price Apparel is voted the most loved and most frequented retail apparel brand for the first time.
  • Miladys wins the Orange Index award for excellence in customer service.
2007
The first Mr Price Sport store opened in the East Rand on 25 August 2006, closely followed by N1 City in Cape Town.
The successful launch of the first Mr Price franchise store in Zambia in October 2007 has opened another new growth opportunity for the Group.  Franchise stores for Mr Price, Mr Price Home and Sheet Street will debut in Mozambique, Kenya, Tanzania nd Ghana in 2008.
Sale of the Hub and Galaxy divisions
2006
The focus of the group has been tightened with the sale of the non-core Hub and Galaxy retail chains.
2005
Over 100 million units are sold across the group
From day one our mission was to bring authentic value to our customers’ lives by upholding our key principles: low cost and everyday low prices, the latest fashion looks and far better quality than the price suggests. The result – we’ve sold over 17 million jeans since 1998.
Ranked 10th out of the top 20 companies in South Africa by the Financial Mail annual Top Companies Award
2004
Mr Price Group was also ranked as one of South Africa’s top 100 companies by the Sunday Times for the 13th successive year.
2003
Attributable income exceeds R150  million for the first time
Since 1986 the Group has achieved a compound annual growth in earnings per share of 23%.
Mr Price sells over 3 million jeans
2002
Over the last 10 years, the number of stores has grown from 187 to 740, and 4 500 jobs have been created, making Mr Price Group the fastest growing apparel and home fashions retailer in South Africa.
2001
Specialty Stores becomes Mr Price Group Limited
Our new identity now reflects the name of our Group’s dominant trading division and gives potential investors greater clarity as to the nature of our business.
Mr Price expands into Africa
2000
Mr Price first opened in Namibia in 1998 and expanded into Botswana in 1999.  Both these countries were successful leading to new stores being opened in these territories and the potential of other Southern African territories being explored.
1999
Mr Price Home and Mr Price Kids launched
By year end 25 Mr Price Home stores were operating across the country, achieving sales of R31 million for the year.  After testing expanded assortments of kidswear, two Mr Price Kids stores were opened.
Mr Price gains dominance in casualwear
1998
Mr Price sells more jeans than any other retailer in South Africa and its RT brand is the number one jeans brand in the country with annual sales exceeding two million pairs.
1997
Launch of in-house retail training development programmes to foster home-grown talent
In order to build our organisation to last, we need to create our own management for the future rather than to recruit from the outside.
Acquisition of Galaxy & Co. and Sheet Street
1996
The Galaxy diamond jewellery chain comprises 66 stores throughout Southern Africa and is the 3rd largest jewellery chain in South Africa. Sheet Street operates 17 stores selling only for cash and works on low operating costs.
1995
Our success achieved to date is attributable to our people, who are joint shareholders.
“While we still have some way to go to become the top performing speciality store in this country, it is the spirit and enthusiasm of our associates and partners that will get us there.” Stewart Cohen and Laurie Chiappini.
A record 12 stores open in 2 days
1994
In total 24 new stores were opened in the year bringing the total stores across the Group to 205.
1993
Launch of the Mr Price Group Share Partnership Initiative
“Our dream is to develop this company into the top performing specialty store group and to share this success with all our associates.”  Stewart Cohen and Laurie Chiappini.
Miladys initiate and launch TV advertising
1992
Milady’s enjoys an outstanding performance in a tight economic climate.
1991
Laurie Chiappini and Stewart Cohen acquire control of the Group from BOE
The Group’s strategic shift out of department stores into speciality stores targeted at the fast-growing multiracial middle market has enabled it to avoid the depths of a recession which has punished retailer appealing to the top end of the market. 
Milady’s expands its footprint
1990
In total, 11 new Milady’s stores were opened during the year and a further 5 stores are planned for 1991, including a 3000m2 flagship store in West Street Durban.
1989
Fully integrated Point-of-Sale system installed in The Hub stores
78 on-line terminals installed in The Hub and R3 million spent on upgrading its computer infrastructure.  A new mainframe is ordered for Miladys to upgrade processing capacity over the next four years.
Sale of the John Orr department store.
1988
After 103 years of predominantly department store trading, the Group is now clearly focussed on specialty store retailing.
1987
The first group owned Mr Price’s Factory Shop opens Brickhill Road, Durban.
The Group is in the process of acquiring the Mr Price factory Shop franchise which started in the Transvaal in May 1985 and comprises 9 stores.

back to top

Back to Top