Inside Mr Price’s ambitious makeover
Mr Price spent the lockdown working on a new strategy. This is to leapfrog Shoprite to become Africa’s largest retailer by market value. And its path to doing this is to expand its reach into both higher- and lower-priced parts of the market
Mr Price, the value clothing, sport and homeware business, has never suffered from a lack of ambition. The company, which opened its very first Mr Price shop in Klerksdorp in 1985, a year before buying out John Orr Holdings, saw the future in factory shop-style shopping.
Those who bought that vision in 1988, at a share price of 28c, would have seen their investment soar 70,000%. Put another way, R10,000 invested in Mr Price in 1988 would today be worth a not-inconsiderable R7m...