as jse mpc industry general clothing stores headquarters durban south africa area served south africa and selected emerging markets revenue r8 .8 billion fy 2009 1 operating income r827 million fy 2009 2 website http www.mrp.com mr price also known as mrp is a publicly traded retail company based in south africa . founded in 1885 it has been traded on the johannesburg securities exchange since 1952 . the store has changed names several times since 1985 including john orrs and hub . the first mr price opened in 1987 after the current owners bought a controlling interest in john orrs . stores are located in namibia botswana kenya tanzania malawi and south africa . retail sales surpassed 5 billion rand in 2007 . 3 the first mr price store was opened in an old bakers biscuit warehouse in durban in 1985 . its founders laurie chiappini and stewart cohen had a vision of creating factory shops that stocked fashionable clothing at reasonable prices . the following year chiappini and cohen formed a consortium with boe to buy the ailing john orr s business . this included the john orr s department stores and their two niche fashion chains milady s and the hub . less than 12 months later the john orr s department stores had been disposed of and the capital this freed up was used as the base for a new company initially called speciality store company storeco which included a growing number of mr price outlets . storeco was listed on the jse in 1989 and two years later chiappini and cohen bought out boe s stake in the business . in 1996 storeco acquired the jeweller galaxy & co. and the home textiles chain sheet street . the group launched its first mr price home store in 1998 . the group was renamed mr price in 2001 reflecting the fact that its mr price outlets had become the most profitable part of its operations . in 2005 galaxy & co. and the hub were sold to their respective management teams . mr price sport was established in 2007 . references edit mr price consolidated income statement mr price consolidated income statement timeline of mr price history mr price group this south african corporation or company article is a stub . you can help wikipedia by expanding it . v t e retrieved from https en.wikipedia.org w index.php title mr. price & oldid 723103520 categories companies established in 1885companies listed on the johannesburg stock exchangeretail companies of south africasportswear brandssouth african company stubshidden categories pages using infobox company with unsupported parametersall stub articles navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 1 june 2016 at 01 13 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view