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Updated 7 October 2026: Added context on from the first store to a repeatable value proposition.
Mr Price is a publicly traded South African retailer well known for its focus on value. Its customer offering covers four broad areas:
- Apparel
- Home
- Financial Services
- Telecoms
Its offering spans apparel, homeware, sportswear, financial services and telecoms. These product and service areas should not be confused with a dated financial-reporting segment breakdown.
Mr Price’s official anniversary history dates its first factory store in Klerksdorp to 1985. The subsequent acquisition and development of the larger retail group are separate milestones.
Background
The first factory store opened in Klerksdorp in 1985. The group’s own corporate timeline distinguishes that opening from the first group-owned Mr Price store in Durban in 1987.
Founders Laurie Chiappini and Stewart Cohen both started out on shop floors and when they met in autumn 1979 a relationship evolved based on mutual trust and a positive vision for the future of retail.
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Their prior employment experiences in retail had given them a negative view of typical businesses and they believed there was a better way of doing business – one where individuals could exploit their full potential.
In early 1985, Laurie and Stewart recognised factory shops as the future but unfortunately, they didn’t have the money to establish one. They felt clothing prices were too high and dreamt of a new kind of factory shop selling quality merchandise at lower prices.
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This would be a third generation factory shop boasting attractive interiors, wanted merchandise and incredible advertising, but a very low cost structure to allow for low margins off high volumes.
The very first Mr Price stores were franchised due to lack of funds.
In 1986, the co-founders acquired a major shareholding in John Orrs Holdings, bringing Miladys into the group. That corporate acquisition was separate from the first Mr Price store opening.
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Alastair McArthur joined the company as the CEO, and the name of the company was changed over time to the Mr Price Group.
Expansion included Mr Price Home in 1998 and Mr Price Sport in 2006, according to the group’s timeline. The company records the evolution of Mr Price Baby into standalone Mr Price Kids stores in 2023. Those are different milestones from the original apparel business.
The group’s October 2025 anniversary account described a network of more than 3,000 stores across nine trading divisions. This is a dated historical snapshot; the older 1,721-store figure should not be presented as a current group total. See the 40-year anniversary account for that reporting context.
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On top of expanding the Mr Price brand, the group also made a number of key acquisitions in addition to Miladys:
- Sheet Street
- Power Fashion
- Yuppiechef
- Studio88 Group(Studio 88, Skipper Bar, Side Step and John Craig)
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How acquisitions and online retail widened the business
Sheet Street joined in 1996. Online shopping followed in 2012, while the group’s later expansion brought Power Fashion and Yuppiechef into the portfolio in 2021, then Studio 88 in 2022. These dates follow Mr Price Group’s own timeline; these milestones trace the expansion from one store format to a broader portfolio.
The acquisitions expanded the kinds of customers the group could serve. Our account of Power Fashion’s value-retail business provides more detail on that brand. The group’s timeline also records its entry into Europe through NKD in 2026.
The useful business distinction is between expanding an existing store format, buying an established brand and adding a digital sales channel. Each route creates different integration work. For comparison, TFG’s development into a retail group shows another portfolio approach. This comparison is editorial analysis.
From the first store to a repeatable value proposition
Mr Price Group’s anniversary history places the first Mr Price Factory Store in Klerksdorp in 1985. That is the company’s stated founding milestone. The subsequent development of the group and its Durban presence should be described as later stages rather than treated as the same opening event.
The business idea combines fashion relevance with a price customers can justify. That balance is more demanding than simply discounting stock: the retailer needs products customers want and a buying process that supports the selling price. A low price has limited value if the size or style is unavailable.
Scaling that idea requires coordination across design or selection, buying, distribution and stores. The customer sees a garment and a price; the business must manage the decisions behind both. A successful first location therefore needs systems before it can become a dependable chain.
For entrepreneurs, the useful question is how a distinctive promise becomes repeatable. Define the products, price position and experience that make the offer recognisable. Then examine which costs and decisions could weaken it as the business grows. The corporate story illustrates scale; this operating lens explains what has to remain coherent along the way.
Source: Mr Price Group’s 40-year company history. The business interpretation in this section is Entrepreneur Hub SA’s editorial analysis.
