TORONTO — As Canada’s biggest bookstore-turned-gift-giver’s-paradise edges toward privatization, it's evident from a stroll around one of its Toronto stores that the retailer knows some things haven’t been working.
TORONTO — As Canada’s biggest bookstore-turned-gift-giver’s-paradise edges toward privatization, it's evident from a stroll around one of its Toronto stores that the retailer knows some things haven’t been working.
"It's a pivotal period to strengthen the company financially and then begin to move it forward," said Joanne McNeish, an associate professor at Toronto Metropolitan University specializing in marketing.She estimates it will take Indigo five years to turn itself around, a process that marketing experts agree could see the retailer put books back in the spotlight and rethink its spaces and even its store count.
Should the transaction, which would see Indigo leave the Toronto Stock Exchange, close as expected in June, experts say it will be time for leadership to roll up their sleeves and begin a new chapter. When Indigo debuted in 1996, it speedily became the country’s go-to bookstore, speckling malls, plazas and eventually, the e-commerce world, under Reisman's goal to create a mecca for book lovers who scooped up books the founder gave her"Heather's Pick" stamp of approval.
Some of the products it looked to, such as cozy socks and quirky mugs, made sense as book accompaniments. Others — sex toys, furniture and high-end jam — were a much bigger leap. Reisman, who returned as Indigo's CEO last September, has never elaborated on Oriuwa's allegations. She revealed last year that the company is carrying out a transformation plan meant to “fully re-energize" its connection to customers.
"We will also continue to be the booklover’s gift destination with a very carefully curated offering of lifestyle and paper products."
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