When we started Mr Price 40 years ago, we were driven by two strong beliefs.
The first was that if you created the right culture in a company, it would unlock the true potential of every associate. To implement the first belief, we built the company on a set of values that included the golden rules of trust, communication and recognition. This created a team of partners who were given the freedom to use their passion to build something that could change the way retail was done in South Africa.
Customers loved the formula, flocked to our stores and over the following years Mr Price began to challenge the existing large clothing retailers. We expanded rapidly and in doing so dramatically reduced the cost of fashion for millions of South Africans.
From the first Red Cap store in 1985, we have today grown to more than 3 000 stores spanning nine divisions. We have more than 32 000 passionate associates who are dedicated to further growing and improving our business. 40 years ago, we could not have imagined such an amazing journey would be possible. We did not know that collectively, we were building a proudly South African legacy.
We are deeply grateful to every partner, associate, and customer who has played a role in shaping our group. We have built a truly remarkable business, and exciting days lie ahead as we strive to become the most valuable retailer in Africa.
Stewart Cohen and Laurie Chiappini
Co-founders
The story of Mr Price began in 1979, when our co-founders, Laurie Chiappini and Stewart Cohen met while working at separate clothing retailers. Despite their different backgrounds, they quickly discovered a shared passion for fashion and a desire to make a meaningful impact on the retail industry in South Africa.
As their friendship grew, so did a common vision: to build a new kind of retail store, one that would transform the way South Africans shop and raise the bar for how employees were treated, with respect and inclusion at the heart of everything they created.
With the support of close friends and family, they took a bold step in 1985 by opening the first Mr Price Factory Store in Klerksdorp, North West Province. The concept was simple but revolutionary: offer good-quality clothing at prices people could afford, in a clean and uncluttered “factory fresh” store environment focused entirely on the product.
This single store marked the beginning of an incredible journey that would go on to reshape the retail landscape of an entire nation.
The store was a hit from day one. South Africans were captivated by the idea of affordable fashion, and customers quickly made their way to see what the newcomer had to offer. With the country in a period of economic growth, the timing was perfect.
As the demand for fashionable yet affordable clothing grew, Mr Price was ready to meet it.
But their success wasn’t just a stroke of luck – it was the result of an entrepreneurial spirit, hard work, and a purpose-driven mindset. As Mr Price opened more stores across South Africa, the two founders led with vision, focus, and courage. They weren’t afraid to take calculated risks or make bold decisions. At the heart of it all was a belief: that fashion should be accessible to everyone, and that the people helping to bring that vision to life deserved to share in its rewards.
Beliefs that endure to this day.
empowering
every associate
to become an
owner
When our founders started the business, they were committed to rewarding associates for their contributions. Over time, this commitment evolved into the long-term share scheme that allocates shares to store associates.
Today, we have more than 14 000 participants, with more than R381 million paid out in dividends to associates
we consistently
invested in South
Africa
Returned more than R15 billion through corporate taxes.
Committed to local by sourcing more than 1 billion units of products from South Africa with R46 billion spent.
More than 29 000 employed through Mr Price Foundation’s JumpStart programme.
