Mr Price is quietly preparing for its next big move outside South Africa as it steps up research into new international markets even as it pushes ahead with one of the most aggressive store expansion drives in the fashion retail sector.
The retailer said it had already identified territories beyond the local market that meet its strict criteria for size, stability, ease of doing business and long-term growth potential.
While the group has not disclosed the countries, it confirmed in its interim results that it has been assessing several acquisition opportunities since 2023, using third-party research, in-country experts and site visits to test market potential.
The move forms part of the group’s two-phased strategy for 2023-25.
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“Key territories outside South Africa have been identified, which include all relevant risk mitigation considerations. To date [the group has] assessed several potential acquisition opportunities that meet agreed investment principles,” it said.
Mr Price is positioning itself for growth outside a sluggish home economy, where low GDP growth, high unemployment and weak consumer confidence continue to weigh on retailers.
In his presentation, CEO Mark Blair said the group remained “committed to investing for the long term in the most attractive opportunities”, with a focus on scalability and strong returns rather than risky turnarounds.
But even as it sets its sights abroad, Mr Price is not slowing down at home. The group continues to expand aggressively in the local market and has opened 91 new stores in just six months, taking its total to 3,100, a fierce push while households remain under pressure from rising living costs, debt repayments and erratic spending patterns.
Its capital expenditure programme, forecast at R1.5bn for the year, is being funded entirely from cash reserves. A major portion of this investment is going into supply chain upgrades, including the large new Gosforth Park distribution facility due for completion in 2026.
Blair said the company’s strategy was built on being “well placed to capitalise on opportunities” as economic conditions improve.
The group has already shown its appetite for expansion through acquisitions, including Studio 88, Yuppiechef and Power Fashion in recent years. Together these contribute nearly a third of the group’s sales and form a large part of its wider portfolio across income categories.
This diversified base gives the group a stronger platform from which to explore opportunities abroad.
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