Indigo Books and Music

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Indigo Books & Music Inc.

Type	Public: (TSX: IDG)
Founded	1996
Founder(s)	Heather Reisman
Headquarters	Toronto, Canada
Industry	Books
Revenue	$875 million CDN (2007)
Operating income	▲ $30.4 million CDN (2007)
Net income	▲ $30.0 million CDN (2007)
Employees	6,300 (2008)[1]
Website	http://www.indigo.ca/

Indigo Books & Music Inc. (TSX: IDG) (stylized as !ndigo) is a Canadian retail bookstore chain. The company was founded in 1996 by CEO Heather Reisman, wife of Gerry Schwartz, majority owner and CEO of Onex Corporation.

The company's first big box bookstore, initially called "Indigo Books, Music & More", was opened in Burlington, Ontario on September 4, 1997. With the aid of Onex, Indigo later engaged in a hostile takeover of Chapters, their largest competitor, and succeeded in acquiring the company in 2001, but continues to operate many stores under the Chapters banner. Indigo also gained the ownership of the Coles chain of small-format bookstores, which was also owned by Chapters.

Contents 1 Operations 2 Charitable activities 3 Employee programs 4 Criticism and controversies 4.1 Censorship 4.2 Support of Israel by owners 4.3 Competitive position 5 Management 6 See also 7 Sources 8 External links

[edit] Operations

The company sells books, magazines, CDs, DVDs, gifts, and toys through its website chapters.indigo.ca, and in its stores. Its banners currently include Indigo Books & Music, Chapters, and World's Biggest Bookstore (large format), and Coles, SmithBooks, and IndigoSpirit (small format).

In recent years, Indigo has partnered with Apple and iUniverse publishing. Indigo also manufactures its own brand of products, called IndigoLife. In addition, the chain's Indigo Trusted Advisor Program offers book recommendations from experts in health, finance, and the environment, such as David Bach and David Suzuki.

[edit] Charitable activities

In 2004, Indigo started the Indigo Love of Reading Foundation, a program which helps provide new books and learning materials to high-needs elementary schools, enhancing the literacy and self-esteem of students. Indigo commits $1.5 million annually to schools across Canada. This money is raised by Indigo customers and proceeds from Love of Reading fundraising products, such as plush toys and gift wrap.

In 2007, the Indigo Love of Reading Foundation produced a documentary chronicling the issue of funding for books in Canadian elementary schools. The documentary Writing on the Wall recounts the establishment of the foundation, while revealing the current conditions of school libraries and literacy in Canada.^[2].

[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).^[3] This is due in part to a 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.

[edit] Criticism and controversies

[edit] Censorship

In 2001, Indigo generated controversy by removing Adolf Hitler's Mein Kampf from the shelves.^[4] 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.^[5] Indigo also chose to not distribute the issue of Western Standard which reprinted and discussed those same cartoons.^[6] The company has also reportedly refused to stock several titles by David Icke, as well as firearms magazines.^[7]

[edit] Support of Israel by owners

In the summer of 2006, the company was targeted by social activists from NION and the Coalition Against Israeli Apartheid (see Israel and the apartheid analogy). According to a report in This Magazine, CAIA advocated the boycott of Indigo/Chapters stores due to Reisman and Schwartz forming the Heseg Foundation for soldiers serving in the Israeli army that have no family living in the state of Israel. The article claimed Reisman and Schwartz donate $3 million a year to the Foundation. According to the organization, the Heseg board includes army and air force chiefs of staff, the head of Israeli intelligence (Mossad), and Maj. General Doron Almog who has been charged with war crimes by Britain for his role in bombing civilians. ^[8][9]

[edit] Competitive position

The Indigo/Chapters chain has been criticized over what some perceive as a virtual monopoly over retail-based book sales in Canada. In 2002, the company strongly opposed the entry of Amazon into the Canadian marketplace with accusations the U.S.-based company was skirting regulations about foreign ownership of Canadian booksellers.^[10]

Indigo has also been blamed for undermining the role of independent booksellers in Canada. The company, which sells books at significantly reduced prices based on volume, was blamed by many in the Canadian publishing industry for the collapse of Litchman's, once Canada's largest independent bookseller.^[11]

[edit] Management

Heather Reisman — Chief Executive Officer
Jim McGill — Chief Financial Officer
Joel Silver — Chief Merchant
Ross Marancos - Senior Vice President, Supply Chain
Michael Serbinis — Chief Information Officer
Joyce Gray — Executive Vice President, Retail and Consumer Experience
Deirdre Horgan — Executive Vice-President, Marketing
Carolyn Beatty — Senior Vice President, Online
Tova White — Vice-President, Human Resource/Organization Development
Chris Bridge — Senior Vice President, Lifestyle Division^[12]

[edit] See also

• Publishing

[edit] Sources

[edit] External links

• Indigo Books and Music website
• Indigo Love of Reading Foundation website
• Indigo pulls controversial Harper's off the shelves - a Globe and Mail article
• Canadian Encyclopedia: Chapters Bid
• Donney's Cafe: Bookselling and Book Publishing in Canada, an emergency report
• Publishers Weekly: Heather Reisman: "Cautiously, Respectfully Bullish"