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For Indigo CEO, it’s time to think outside the book
Nov. 09, 2011 | The Globe and Mail | by MARINA STRAUSSMARINA STRAUSS

Ms. Reisman has made a $315-million (U.S.) deal to sell Indigo’s majority stake stake in e-reader maker Kobo Inc. to Japanese e-commerce player Rakuten. Ms. Reisman is in a stronger position to make acquisitions and expand non-book ventures, to offset Indigo’s shrinking book business. She will invest heavily to shore up her new product design and development studio in New York City, which is focused on home decor and gift items....Ms. Reisman must reinvent the book store as consumers increasingly opt for mobile readers over physical books. She’s being forced to branch out ever more into gifts, toys and home decor merchandise, even as competition gets tighter. By 2013, savvy U.S. discounter Target Corp. (TGT-N51.69-1.36-2.56%) will launch its stores in Canada, carrying many of the same types of products.

Book sales, which now make up about 75 per cent of Indigo’s business, will fall to 50 per cent in a couple of years, according to Indigo’s forecast.
Marina_Strauss  Indigo  Heather_Reisman  retailers  reinvention  books  CEOs  New_York_City 
november 2011 by jerryking
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