Canadian Indigo Books in expansion mode
<p>Canada's biggest book chain Indigo Books and Music is in growth mode, reports the National Post, building superstores, launching a completely new retail chain with a "green" theme, and going multimedia with an in-store television station, a documentary film and the launch of a social-networking website catering to book lovers. </p><p>"'We have a big, hairy, audacious goal of where we want to see this business go in the next five years,' Heather Reisman, chief executive, told shareholders yesterday at the company's annual general meeting. 'The business is in great shape, and we are ready to start innovating and experimenting for growth.'</p><p>Reisman said little about the new retail format other than it will 'fill what we see as 'white space' in the consumer channel,' and hinting at a concept built around environmental sustainability: 'Think green.' She did not give a timeline for store openings. </p><p>Since acquiring rival Chapters. six years ago, Reisman has transformed Canada's biggest book chain from a $48-million loss in fiscal 2002 to a $30-million profit in fiscal 2006, an increase of 18% over the prior year."</p>