Mr Price appoints new director amid controversial R9.6 billion global expansion
Mr Price has appointed Thetele Mashilwane as its newest independent non-executive director, with effect from 2 September 2026.
Mashilwane is a seasoned businesswoman in South Africa, holding executive positions in Clientéle and Tiger Brands.
She steps in as Mr Price is seeing strong results, with sales growth rising by 45.3% in the first quarter of the current financial year.
The group has also seen success in international ventures, with strong sales growth in its European stores.
Mashilwane is a chartered accountant and registered auditor who will bring both internal and external audit experience to the Mr Price Group.
“Mashilwane is a seasoned chartered accountant and registered auditor, and has extensive experience in both internal and external audit and the provision of advisory services to clients,” Mr Price said.
She is also the CEO and co-founder of Masa Risk Advisory Services, which she operates in addition to her several executive positions.
In addition to her director roles, Mashilwane serves in various executive capacities at Capitec, Famous Brands, and Murray and Roberts.
Despite recent strong trading updates, Mr Price has faced scepticism from shareholders over the past year.
This largely came after its deal to acquire NKD, a European retailer, for approximately R9.6 billion, which was paid through a combination of cash and debt.
The deal sparked a negative reaction from shareholders, with the company losing approximately R6 billion in market cap the day after the announcement.
While the business has stabilised recently and shown promising signs, its share price remains approximately 21.2% lower year-on-year.
On 20 August 2025, Mr Price’s share price was R213.00, which has since dropped to R167.75, with the largest decline coming in the wake of the NKD deal announcement.
In the first quarter of the current financial year, Mr Price saw approximately R3.8 billion in sales from its NKD stores in Europe.
While the results were positive, the business warned that the global environment was still highly volatile, particularly in the apparel industry.
“The global macroeconomic environment remains uncertain as geopolitical tensions continue to fluctuate with low expectations of a near-term resolution,” the group said.
“The resultant inflationary pressures and potential for further interest rate increases are expected to continue to weigh on consumer confidence and discretionary spending across the group’s key markets.”
“Trading conditions are therefore expected to remain challenging and unpredictable over the balance of the financial year.”
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