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 shop opening on the A28 Sturry Road, Canterbury in late 1973. Green Shield House was in Station Road, Edgware.