Indigo Books and Music

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Indigo Books store at the Toronto Eaton Centre

Indigo Books & Music, Inc. (TSE: IDG) is a retail chain in Canada. It was created in 1996, and their first store, called Indigo Books, Music & More, was opened in Burlington, Ontario on September 4, 1997. With the aid of Onex Corp., Indigo engaged in a hostile takeover of Chapters Inc., their largest competitor, on August 14, 2001. The founder and CEO of Indigo is Heather Reisman, wife of Gerry Schwartz, majority owner and CEO of Onex Corp.

Originally created as a bookstore, the company now sells books, magazines, cds, dvds, housewares, electronics, and toys through its website Indigo.ca, and in stores. In an effort to increase revenues, Indigo-Chapters retail stores have, in recent years, significantly reduced the quantity of books carried in their stores, favouring housewares and other items with higher profit margins.

In recent years, Indigo has partnered with Apple and iUniverse publishing. Indigo also manufactures its own brand of products for booklovers, called IndigoLife. In addition, Indigo has created the Indigo Trusted Advisor Program in order to help consumers made informed decisions when selecting books in many categories, including Health. This program provides customers access to expert book recommendations from Canada's leading physicians and healthcare professionals. The Trusted Advisor panel is made up of physicians and health professionals who volunteer their time to review books within their area of expertise and to approve those they would feel confident recommending to their patients. Recently, this program has been expanded to include the areas of Geopolitics and the Environment.

In 2001, Indigo generated controversy by removing Adolf Hitler's "Mein Kampf" from the shelves. Similarly, the company chose in 2006 not to sell the June issue of Harper's magazine which featured an article by Art Spiegelman, in which he reprinted and discussed controversial cartoons that had sparked violent demonstrations around the world. Indigo also chose to not distribute the issue of Western Standard which reprinted and discussed those same cartoons.^[1]

In 2006, Indigo's flagship "Chapters" store in downtown Vancouver, BC was unionized. It was the latest to do so of only three total unionized stores in the chain, including one in Toronto (World's Biggest Bookstore) and one in Montreal (Indigo).

1 Love of Reading Fund
2 Employee Programs
3 Head office
4 Financials
5 Management
6 Sources
7 External links

[edit] Love of Reading Fund

In 2005, Indigo started the Love of Reading Fund, a program which helps provide new books and learning materials to high-needs elementary schools, enhancing the literacy and self-esteem of students. Indigo Books & Music Inc., commits over $1.5 million annually to schools across the country. This money is raised in part through donations and fundraisers, as well and profits from certain Love of Reading products, such as plush toys and gift wrap. The list of past recipients can be viewed here <http://www.chapters.indigo.ca/home/article/ilor_grant_recipients> .

[edit] Employee Programs

Indigo was listed in the 2006 and 2007 edition of Canada's Top 100 Employers, as well as Greater Toronto's Top 50 Employers (2007). This is due in part to the exceptional staff rewards program, which includes benefits eligibility for both full-time and part-time employees. Indigo also offers a company matched RRSP program and yearly employee scholarships. Staff are rewarded on a daily basis through the recognition program, IthankYou, and are supported by a comprehensive training system.

[edit] Head office

Location: 468 King Street West, Suite 500, Toronto, Ontario, Canada, M5V 1L8
Number of employees: 6,000^[2]

[edit] Financials

Revenue for 2004: $787.5 million CAD
Net Earnings for 2004: 11.7 million CAD

[edit] Management

Heather Reisman — Chief Executive Officer, or "Chief Book Lover"
Jim McGill — Chief Financial Officer
Michael Serbinis — Chief Information Officer
Victor DiRisio — Executive Vice-President, Supply Chain Management
Deirdre Horgan — Executive Vice-President, Marketing
Jonathan Ehrlich — Senior Vice-President, Online
Lloyd Perlmutter — Executive Vice President, Retail Operations and Customer Experience
Tova White — Vice-President, Human Resource/Organization Development
Joel Silver — Senior Vice-President, Print Procurement
Eric Berthold — Senior Vice President, Lifestyle^[3]