• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Thursday, July 10, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Latest

Mr Price to buy majority of Studio 88 in R3.3bn deal

by editor
April 13, 2022
in Latest
47
A A
58
SHARES
969
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You might also like

India-Namibia trade tops N$14.2 billion as Modi calls for deeper ties

NIPAM launches the Public Sector Awards

Fitch sees stable future for NamWater despite weak operating conditions

Value fashion and homeware retailer Mr Price announced on Wednesday that it is acquiring 70% of the owner of Studio 88 Group, which includes the SideStep, John Craig, Skipper Bar brands, for R3.3 billion.

Mr Price described the Studio 88 group, which operates over 700 stores, as the “largest independent retailer of branded leisure, lifestyle and sporting apparel and footwear in South Africa”. The 21-year-old group generated R5.6 billion in revenue for the financial year ended 30 September 2021.

“The partnership with Studio 88 Group gives Mr Price an ideal entry into the high-growth urban wear and athleisure segments of the market, which present us with a significant non-competing channel,” Mr Price Group CEO Mark Blair said. 

“What attracts us to the Studio 88 group is their deep understanding of trend conscious South African consumers and their ability to address their needs via their various trading formats.”

 

The Studio 88 merchandise range is a mix of international brands, some under exclusive licence agreements, as well as private label ranges.

Studio 88 founder Laurence Wernars will continue running the business with his management team.

If the acquisition is successful, pending conditions, the inclusion of the group would increase Mr Price’s annual revenue to over R28 billion, and its footprint to more than 2 400 stores. The Mr Price group would also then end up employing over 25 000 people.

The deal is being funded through Mr Price’s existing cash resources. It is acquiring 100% of RMB Ventures’ shareholding in Studio 88 owner Blue Falcon and management will dispose of 50% of their shareholding, allowing Mr Price to pick up the shares. It will eventually acquire the rest of management’s shareholdings over the next four years. 

Last year, Mr Price bought high-end kitchenware seller YuppieChef, and it acquired value retailer Power Fashion in 2020. The acquisitions all form part of Mr Price’s strategy to become “the most valuable retailer in Africa”. -fin24

author avatar
editor
See Full Bio
Tags: africa news
Share23Tweet15Share4
Previous Post

Namcor wins oil producing tender in Angola

Next Post

South Africa plans new nuclear energy projects: report

Recommended For You

India-Namibia trade tops N$14.2 billion as Modi calls for deeper ties

by reporter
July 10, 2025
0
India-Namibia trade tops N$14.2 billion as Modi calls for deeper ties

India-Namibia bilateral trade has exceeded N$14.2 billion (US$ 800 million), Indian Prime Minister Narendra Modi announced during an address to the Namibian Parliament, reaffirming his country’s commitment to...

Read moreDetails

NIPAM launches the Public Sector Awards

by reporter
July 9, 2025
0
NIPAM launches the Public Sector Awards

The Namibia Institute of Public Administration and Management (NIPAM) will host its first-ever Public Sector Awards on 11 July 2025 at the NIPAM Campus in Windhoek. This groundbreaking...

Read moreDetails

Fitch sees stable future for NamWater despite weak operating conditions

by reporter
July 7, 2025
0
Fitch sees stable future for NamWater despite weak operating conditions

Fitch Ratings has affirmed Namibia Water Corporation (NamWater) Limited’s long‑term foreign‑ and local‑currency issuer default ratings at BB‑ with a stable outlook. According to the report, despite operating...

Read moreDetails

NAMCOR posts N$1.26 billion loss, debt stands at N$1.6 billion

by reporter
July 6, 2025
0
NAMCOR posts N$1.26 billion loss, debt stands at N$1.6 billion

The National Petroleum Corporation of Namibia (NAMCOR) has posted a net loss of N$1.26 billion for the 2022/23 financial year, largely due to the underperformance of its trading...

Read moreDetails

NamRA rules out extension to individual tax return deadline

by reporter
June 30, 2025
0
NamRA rules out extension to individual tax return deadline

The Namibia Revenue Agency (NamRA) maintains that 30 June remains the official deadline for submitting individual income tax returns, urging taxpayers to file without delay. Speaking on the...

Read moreDetails
Next Post
South Africa plans new nuclear energy projects: report

South Africa plans new nuclear energy projects: report

Related News

BoN opts for 50-basis-point rate hike, drives up debt servicing costs

BoN opts for 50-basis-point rate hike, drives up debt servicing costs

May 6, 2023
DBN, Eos Cares empower SMEs through private equity education

DBN, Eos Cares empower SMEs through private equity education

November 18, 2024
Construction of 5.4MW Rosh Pinah Solar Park begins

Construction of 5.4MW Rosh Pinah Solar Park begins

May 16, 2022

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.