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Mr Price CEO Bags R60 Million as Retail Empire Hits 3,000 Stores

Published

3 months ago

July 4, 2025

Chiraag

Mr Price CEO salary 2025, Mark Blair earnings, Mr Price retail growth, SA fashion expansion, Studio 88 acquisition, Mr Price stores South Africa, Blair remuneration, South African retail success, Joburg ETC

From Factory Floors to Fortune: Mr Price CEO’s R60 Million Milestone in a Shifting Retail Landscape

For Mark Blair, 2025 was a landmark year. The CEO of Mr Price took home R60.8 million, a significant jump from R45.9 million the year before, just as the retail powerhouse celebrated crossing the 3,000-store milestone.

But this figure isn’t just a flashy headline. It represents a company that has doubled its footprint since 2021 and delivered solid financials in an unpredictable economy. It also puts Blair right in the spotlight of South Africa’s ongoing conversation about executive pay, performance, and retail resilience.

Also read: Inside the Net Worth of South Africa’s Wealthiest Politicians [2025]

How Mr Price Got Here: A Strategy Rooted in Smart Growth

In the financial year ending 29 March 2025, Mr Price opened 184 new stores, expanding its footprint to 3,030 stores across 15 retail brands. That’s more than double what it was just four years ago.

What’s powering this surge? A mix of disciplined organic growth and bold acquisitions. Since 2021, Mr Price has acquired Studio 88, Power Fashion, and Yuppiechef, the latter giving it a significant online retail edge. These acquisitions have already delivered a combined R1.2 billion in operating profit this year alone.

It’s a sign of how far Mr Price has come from its value-clothing roots. Today, the group’s brands span everything from fashion and homeware to baby essentials and sportswear, with e-commerce playing a growing role in its revenue mix.

The Financials: Big Numbers, Bigger Context

The group reported 7.9% revenue growth, reaching R40.9 billion, with a 40.5% gross margin and record operating profit of R5.8 billion. Shareholders weren’t left out; the final dividend rose by 127% to 593.5 cents per share, and earnings per share grew by over 10%.

Blair’s paycheck mirrors the company’s upward trend. His guaranteed package (covering salary, benefits, medical aid, and allowances) rose modestly from R9.3 million to R9.7 million. But his performance-linked rewards tell the bigger story:

Short-term incentives: R9.6 million → R14.9 million
Long-term incentives: R27.1 million → R36.2 million

This structure, where bonuses and share awards outweigh base salary, is standard across listed companies in South Africa. According to the remuneration committee, Blair’s payout was based on financial performance (50%), strategic delivery (25%), and leadership (25%).

Social Reaction: A Divided Public

Not everyone’s clapping. On X (formerly Twitter) and LinkedIn, South Africans were quick to weigh in.

Some praised Blair for driving growth and job creation in a tough economy. “If he helped build jobs and a successful company in tough times, then he earned it,” one user posted. Others saw the R60 million figure as tone-deaf amid South Africa’s unemployment crisis and stagnant wage growth.

“Mr Price is thriving, but is it thriving for the average South African?” another asked. The debate underscores a growing tension between executive performance pay and broader economic inequality.

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Image 1: Facebook/Mr Price

Retail in a Turbulent Economy: Can the Momentum Last?

South Africa’s economy in 2025 remains a mixed bag. The GDP growth forecast sits at just around 1%, and global trade pressures, including potential new US tariffs, add to the uncertainty.

Still, there are bright spots: inflation is easing, petrol prices are falling, and interest rates were cut by 100 basis points, giving consumers some breathing room. Real wage growth has started to tick upwards, though questions remain about whether this environment is sustainable.

Blair remains optimistic but cautious. “Our disciplined approach and selective opportunity evaluation continue to deliver results through economic cycles,” he said in a statement to shareholders.

What to Watch: The Next Big Move

While Mr Price is keeping its growth roadmap under wraps, insiders say the group is focused on digital transformation and selective acquisitions in lifestyle and tech-adjacent retail. Blair has hinted at ongoing research into the group’s “next growth vehicle,” something that will support its long-term vision beyond 2025.

With its strong brand equity, a proven business model, and disciplined leadership, Mr Price is positioning itself to weather market volatility and possibly set new benchmarks for South African retail in the years ahead.