MR PRICE PLAYING THEIR PART TOWARDS ECONOMIC RECOVERY


The COVID-19 pandemic has been in South Africa for over a year and has since had a negative impact on the economy. Not only has it disrupted production, it has also caused a decline in export markets and created a prolonged decrease in demand for many service industries.

The Government finalised its Economic Reconstruction and Recovery Plan to build a new economy and unleash South Africa’s true potential. Various industries are on a journey to ensure the primary goal of the economic recovery plan is to create a sustainable, resilient and inclusive economy as a reality post COVID-19.

One of South Africa’s budget clothing and homeware retailer Mr Price (MRP), has been recovering financially due to consumers supporting local. MRP, which also owns the Miladys and Sheet Street brands, grew its share of the market by 150 basis points in the year to 3 April, according to the Retailers’ Liaison Committee (RLC). That’s the equivalent of R1.2-billion in additional sales. While the group gained market share every quarter, it says clothing division Mr Price Apparel, gained market share every month, supported by a 64% improvement in online sales.

MRP has been serving fashion since 1985. It all began in Durban, now it is bringing unbelievable value to stores across Africa and the world. These positive strides are a result of collaborative efforts by various sectors and a focus on sources of growth.

MRP has since also announced a partnership with The South African Sports Confederation and Olympic Committee (SASCOC) in a four-year agreement, billed as a multi-Games partnership. The partnership will see MRP Sport become the official apparel sponsor of Team South Africa at the Olympic Games in Tokyo 2021. MRP Sport has reportedly worked closely with local designers, with expert advice from SASCOC and athletes, to create an innovative kit for the South African team.

In a statement SASCOC said MRP Sport has become a household brand in the country, with several of the country’s best athletes wearing kits produced by the retailer.

Managing Director of MRP Sport, Roger Maingard said, “We are very excited about this new partnership, it is an absolute honour to be kitting out Team South Africa. Equipping South Africa’s foremost, elite athletes in one of the country’s most accessible brands serves as a great inspiration for all. Having young, aspiring Olympians see their sporting heroes in a brand they know and love can only serve to inspire.”

In working together, South Africa can create jobs, get the economy growing and achieve economic benefits for all. Some of the key official sports apparel will be available in stores and online, so citizens can play their part by buying items in support. #supportlocal.

Additional source Daily Maverick ; MrP Sport and InsideTheGames