Indigo Books & Music is in discussions to expand operations to the United States as early 2018, according to several high level executives at publishing houses in Canada and the United States. According to sources, representatives for the Canadian retailer were taking meetings about the potential expansion during this year's Book Expo in New York.
Executives speculated that a store is being planned for New Jersey. "[CEO] Heather [Reisman] has many close relationships in New Jersey and knows the area well," said one executive. Montclair was floated as one potential location.
As of May 31, 2016, Indigo operated 89 superstores under the Indigo and Chapters brand names. It also ran 123 small format stores, under the names Coles, Indigo, Indigospirit, SmithBooks, and The Book Company. All of the chain's stores are located in Canada.
Indigo's revenue has been on the rise. For the fiscal year ended April 17, the company reported total revenue of C$1.02 billion ($950 million), the chain's highest revenue mark to date. The numbers represent an increase of 2.6%, or C$26 million ($20.6 million), over the same period last year.
Some of the company's recent success has been attributed to the launch of a new bookstore concept in 2016. The first location for the new concept opened in Sherway Gardens, an upscale shopping mall in western Toronto.
The 30,000-sq.-ft. Sherway Gardens store is spread over two floors, and offers what Krishna Nikhil, Indigo’s executive v-p of print and chief strategy officer, called “a book lover’s cultural department store.” The concept has since been rolled out across several superstore locations and places an equal emphasis on sales of non-book items, in addition to books.
At press time, Indigo would neither confirm nor deny the company's intention to open a U.S. location.