Agora Super Stores

Last updated

Agora
Company type Private
Industry Retail
Founded2001
Headquarters
Bangladesh
Area served
Dhaka, Chittagong, Sylhet
Products
  • Electronics
  • Home improvement
  • Clothing
  • Footwear
  • Jewelry
  • Toys
  • Health and beauty
  • Pet supplies
  • Sporting goods and fitness
  • Photo finishing
  • Craft supplies
  • Party supplies
  • Grocery
OwnerBrummer & Partners and Rahimafrooz Bangladesh Limited
Number of employees
1000+
Parent Brummer & Partners and Rahimafrooz Bangladesh Limited [1]
Divisions
  • Agora Dhaka
  • Agora Chittagong
  • Agora Sylhet
Website agorasuperstores.com

Agora is a Bangladeshi retail superstore that operates a chain of hypermarkets, discount department stores, and grocery stores. Headquartered in Dhaka, Bangladesh, the company was founded by Rahimafrooz Superstores Ltd. in 2001, [2] and it was the pioneer and largest retail-superstore in Bangladesh. [3] [4]

Contents

History

Agora was founded in Dhaka in 2001 by Rahimafrooz Superstores Ltd of Rahimafrooz group. [5] In 2006 Agora was fined 100 thousand taka by Mobile court over food safety. [6] By 2008, it had 4 superstore retain branches in Dhaka. [7] The store uses 50 thousand rural farmers and traders to supply itself. [8] In 2011, the store opened its first branch in Chittagong. [9] The same Agora acquired rival brand PQS in Dhaka. [10] By 2012, Agora had 10 branches in Bangladesh. [11]

Agora branch in Mohammadpur was fined in 2013 and again in 2014 for selling stale vegetables. [12] In 2015, Agora won the best retail brand award by Bangladesh Brand Forum. [13] On 15 May 2016, Agro and other superstores closed their stores in protest overfine issued by Bangladesh Food Safety Authority for selling date expired food on 12 May 2016. The Shantinagar branch manager Monirul Islam of Agora was sentenced to 2 years imprisonment by the mobile court of Bangladesh Food Safety Authority. [14] [15] [16]

Acquisition of Softlogic Holdings

Sri Lankan conglomerate Softlogic's retail holdings wing entered into an agreement on 4 March 2022 to fully acquire Agora, according to public disclosure by the Lankan conglomerate. The acquisition of a 100% stake in the company via a series of transactions would be subject to terms and conditions set out therein and receipt of regulatory approvals, Softlogic Holding PLC said in its regulatory filing in Colombo Stock Exchange. Neither Softlogic nor Agora owners disclosed the deal value. Investment banking sources, however, estimate that the amount might be something between Tk181 and Tk249 crore, citing previous events. [17]

As part of recent update, talks are being held to sell Agora to Gemcon group. Which will be named & operated as Meena Bazar in the future. [18]

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References

  1. ↑ "Softlogic buys Bangladesh retail superstore Agora". Ada Derana. 4 March 2022. Retrieved 9 March 2022.
  2. ↑ "Agora's 5th founding anniversary celebrated". The Daily Star. Archived from the original on 30 August 2018. Retrieved 18 May 2017.
  3. ↑ "Dove hair care products at Agora". The Daily Star. 6 October 2007. Retrieved 18 May 2017.
  4. ↑ "Small supermarkets struggle to sustain". The Daily Star. 22 June 2008. Retrieved 18 May 2017.
  5. ↑ "Agora About Us". agorasuperstores.com. Archived from the original on 5 June 2017. Retrieved 18 May 2017.
  6. ↑ "Agora fined Tk 1 lakh by mobile court". The Daily Star. Archived from the original on 30 August 2018. Retrieved 18 May 2017.
  7. ↑ "Rahimafrooz plans 20 new Agora outlets". The Daily Star. 25 August 2008. Retrieved 18 May 2017.
  8. ↑ "Niaz Rahim: A Story of Principle before Profit". The Daily Star. 1 July 2016. Retrieved 18 May 2017.
  9. ↑ "Agora makes Chittagong debut". The Daily Star. 27 May 2010. Retrieved 18 May 2017.
  10. ↑ "Agora takes over PQS". The Daily Star. 26 July 2011. Retrieved 18 May 2017.
  11. ↑ "Supermarket chains plan to expand in a big way". The Daily Star. 5 August 2012. Retrieved 18 May 2017.
  12. ↑ "Agora fined for selling stale vegetables". bdnews24.com. Retrieved 18 May 2017.
  13. ↑ "Best brands celebrated". The Daily Star. 22 November 2015. Retrieved 18 May 2017.
  14. ↑ "Errant chain stores, restaurant fined in capital". The Daily Star. 12 May 2016. Retrieved 18 May 2017.
  15. ↑ "Superstore owners keep shutter down protesting 'harassment'". The Daily Star. 15 May 2016. Retrieved 18 May 2017.
  16. ↑ "Scientific tests before action". The Daily Star. 16 May 2016. Retrieved 18 May 2017.
  17. ↑ "Sri Lankan company snaps up Agora". The Business Standard. 5 March 2022. Retrieved 9 March 2022.
  18. ↑ Correspondent, Staff. "Talks on to sell retailer Agora to Meena Bazar owner Gemcon". bdnews24.com. Retrieved 23 April 2024.


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