Indigo Books and Music
From Wikipedia, the free encyclopedia
| Indigo Books & Music, Inc. | |
|---|---|
| Type | Public: (TSX: IDG) |
| Founded | 1996 |
| Founder | 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 | 6,693 |
| Website | http://www.indigo.ca/ |
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, gifts, iPods, and toys through its website indigo.ca, and in its stores.
In recent years, Indigo has partnered with Apple and iUniverse publishing. Indigo also manufactures its own brand of products, called IndigoLife. In addition, Indigo created the Indigo Trusted Advisor Program to help consumers make informed decisions when selecting books in categories such as 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 was expanded to include geopolitics and the environment with recommendations from authors like David Bach and David Suzuki.
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] Recently, Indigo was thought to have kept the book "America Alone" by Mark Steyn out of its stores due to its content but consistent sales and stock of the book have shown much publicized claim to be incorrect.
Contents |
[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> .
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. To view the documentary click: <http://www.chapters.indigo.ca/loveofreading/template/index.html> .
[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).[2] 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. Currently, Indigo is committed to developing comprehensive training systems for its staff while management training programs are still in the planning stage.
[edit] Head office
Location: 468 King Street West, Suite 500, Toronto, Ontario, Canada, M5V 1L8
Number of employees: 6,000[3]
[edit] Financials
Revenue for 2007: $875 million CAD
Net Earnings for 2007: $30.0 million CAD
[edit] Management
Heather Reisman — Chief Executive Officer
Jim McGill — Chief Financial Officer
Victor DiRisio - Executive Vice President, Supply Chain
Michael Serbinis — Chief Information Officer
Deirdre Horgan — Executive Vice-President, Marketing
Jonathan Ehrlich — Senior Vice-President, Online
Tova White — Vice-President, Human Resource/Organization Development
Joel Silver — Senior Vice-President, Print Procurement
Eric Berthold — Senior Vice President, Lifestyle[4]
