Indigo's core business still remains books, says CEO Heather Reisman
TORONTO - The head of Indigo Books and Music Inc., and its self-proclaimed chief booklover, believes there will always be a market for the written word â€” on paper, and bound between covers.
Chief executive Heather Reisman says Indigo (TSX:IDG) may be the "only people on the planet" who are still investing in bookshelves at their stores and has no plans to cut back on any titles.
Canada's largest book, gift and specialty toy retail chain, is counting on the popularity of digital books to wane.
Reisman made the comments following the company's annual general meeting and said that unlike music, newspapers and magazines, which have lost a huge proportion of marketshare to digital options over the past few years, paper books still hold mass appeal.
Even so, the company is hoping to complete its five-year transformation to become the "world's first cultural department store" by 2015.
Some of these changes have already taken hold, as the stores continue to expand their gift sections with candles, soaps and jewelry, and educational toys. The company has also opened Apple kiosks and American Girl doll boutiques inside its stores, in hopes of drawing in more customers.
The bookseller has been struggling with sales amid intense competition from mass merchants,, such as Walmart and Target, and, more notably, online giants like Amazon.
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