In 1954, Mr. Abdul Rahim started a trading entity that was focused on garments retail. By 1958, Mr. Rahim and his company, Rahimafrooz, entered into a joint venture with British investors in the battery industry as a distributor. By 1990, Rahimafrooz took over the manufacturing operations, becoming the leader in the industry. Since then, the company has grown into one of Bangladesh’s most prominent conglomerates, always focused on exploring new market segments. In the early 2000s, it started the first highly successful supermarket chain in Bangladesh, challenging the traditional cultural buying habits of households. Rahimafrooz kept expanding into unchartered territories of the automotive aftermarket, power and renewable energy sectors.
The five fundamental values of Rahimafrooz are integrity, excellence, customer satisfaction, innovation and inspiring people. ‘The moral values that he (Mr. Abdul Rahim) emphasised continue to be values that we try to hold on to today,’ said Niaz Rahim, one of Rahim’s sons and a Group Director of Rahimafrooz. Emerging out of the company’s values is the inner drive that leads it to focus on creating new markets and taking on non-mainstream ventures. ‘The founder’s belief in taking risks has always inspired us. We believe in going into undiscovered sectors to become market leaders and frontrunners,’ said Niaz Rahim.
‘We will never compromise on our integrity for profitability,’ he added. Having transitioned from a typical FB into a corporate business structure in 1998, Rahimafrooz prides itself on its transparency and integrity. Be it ensuring all operations and taxes are accounted for, providing scholarships to local associates’ children, or conducting price freezes during Ramadan, Rahimafrooz stands firm on its commitment to the larger society. ‘Our integrity and who we are in the communities we serve – whether they are international or local, anyone connected to Rahimafrooz appreciates and shares our fundamental values,’ said Niaz Rahim.
Mr. Abdul Rahim had always believed in maintaining a well-balanced and disciplined lifestyle along with a deep and meaningful family life. He ensured that all members of his family and the company employees were able to dedicate efficient effort at work and spend quality time with their families. In 2009, a family council was set up. The family council hosts annual assemblies to keep all members of the family, both those active and inactive in the business, informed on the progress of the company. The participation of a large number of members of the second generation results in various combinations of family members being involved in management and ownership. ‘In times of crisis we debate, discuss, and unanimously make decisions for the company, as everyone is affected,’ explained Niaz Rahim. With the third generation of the family entering the workforce, Rahimafrooz follows well-established procedures for integration; they are given an orientation to the five fundamental values of the company and then put under a manager in the sector that interests them the most. Such training is helping the newest generation to imbibe the company values while being prepared to lead the business in the future.
