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.
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.
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.
Full article ▸