History
The company was founded by Richard Tompkins who had previously established Green Shield Stamps in the United Kingdom. Whilst on holiday in the Greek city of Argos, he came up with the idea that people could purchase goods from his "Green Shield Gift House" with cash rather than savings stamps. He rebranded the original Green Shield Stamps catalogue shops as Argos beginning in July 1973, the first purpose-built store opening on the A28 Sturry Road, Canterbury in late 1973. Green Shield House was in Station Road, Edgware.
Argos was launched with thousands of staff, taking £1,000,000 during a week in November. Argos was purchased by BAT Industries in 1979 for £32 (€35) million. In 1980, Argos opened its Elizabeth Duke jewellery counter (named after a director's wife) and by 1982 was the UK's fourth biggest jewellery retailer. The Elizabeth Duke brand has since been phased out and replaced with the "Jewellery and Watches" brand.
The company was demerged from BAT Industries and listed on the London Stock Exchange in 1990. It was then acquired by GUS plc in 1998. It subsequently became part of Home Retail Group which was demerged from its parent company, GUS plc, with effect from 10 October 2006.
Read more about this topic: Argos (retailer)
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