Following on from Woolworths (SA) acquisition of David Jones, another South African retailer is on the way. This further demonstrates how attractive the Australian market is from an international perspective. Although I'm always cautioning new entrants that success of an online presence in the Australian market doesn't necessarily translate to success with bricks and mortar stores with significantly different costs bases at play. Nevertheless I think there is a healthy South African expat population here that will be happy to see a familiar place to shop.
South African discount fashion retailer, Mr Price, is headed to Australia, with two stores scheduled to open under its online moniker, MRP, in October. Following strong online sales from Australia through the MRP.com website, the first standalone store will open at Melbourne Central shopping centre in October, understood to be around 1000sqm. The second is understood to be of a similar size and is also expected to be in Melbourne, however, its location is yet to be confirmed. “As a business based in the southern hemisphere, we’re able to offer Australians a relevant, seasonal trend led assortment,” said MRP CEO, Stuart Bird. “While initially we will focus on our MRP apparel stores, there is potential to follow with our MRPHome and MRPSport divisions”.