Mr Price Group is a step closer to scooping up online retail kitchenware pioneer Yuppiechef after the Competition Commission on Thursday announced its backing of the acquisition.
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Mr Price Group reported a 64.1% increase in full-year online sales, with the same figure from its core apparel and sports brands more than doubling in the same period.
Mr Price said on Monday that it has reached an agreement to buy 100% of Yuppiechef, an “omnichannel” retail business focused on kitchenware, for about R470-million in cash.
Despite overall trade taking a hit due to the Covid-19 fallout and lockdown, Durban-based national apparel and home retail giant Mr Price Group has seen a surge in online sales and has increased its market share post the “hard” lockdown.
JSE-listed technology company 4Sight Holdings has formed a partnership with Unplugg Group, an IT company led by former Mr Price chief information officer Antony Hlungwane.
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