Indigo store in Toronto will offer alcohol in new concept
Posted August 23, 2023 9:28 pm.
Last Updated August 23, 2023 9:30 pm.
Indigo is prepared to try something new at one of its Toronto locations in a concept that will allow customers to consume alcohol as they browse for books.
A new 16,000-square-foot Indigo store will open this fall in Toronto’s The Well development, stretching down the western side of Spadina Avenue from Wellington to Front.
This Indigo location will allow customers to drink beer, wine or coffee while shopping. Additionally, snacks will be offered for customers to enjoy.
Indigo CEO Peter Ruis said the move will be a radically different experience for shoppers.
“We know our customers love the current Indigo stores, but we also know the world is changing, and people are craving more meaningful experiences that get them closer to their passions,” Ruis said in a statement on Wednesday.
“We are thrilled to offer our customers an elevated experience that is much more than a shop. This will be a destination and social meeting place, celebrating the best of what Indigo does; Books, Music, Fashion and Culture — it will be a total lifestyle emporium.”
While Indigo currently sells various plants and vinyl records, the new concept will introduce a vinyl record and unique plant shop. There will also be a coffee truck located inside the Indigo itself.
Indigo reported a loss of $28.5 million in its first quarter, compared with a loss of $25.4 million in the same quarter last year.
Revenue for the Toronto-based retailer’s quarter ended July 1 was $179.2 million, down from $204.6 million last year, while loss per diluted share was $1.02, compared with a loss of 91 cents a year ago.
Indigo remains focused on lowering expenses, said Ruis. The company has reduced labour as well as warehousing and distribution costs, he said, and benefited from lower international freight prices.