<
https://theconversation.com/well-placed-for-growth-booktopia-has-been-saved-by-an-online-electronics-store-which-plans-to-invest-millions-237028>
"Australian online retailer Booktopia has been sold to Australian online
electronics store digiDirect – saving the business whose sales made up 54.7% of
Australia’s online bookselling market. (Booktopia’s closest competitor, Amazon,
made up 11.1%.)
Booktopia’s reprieve means Australian readers, writers and publishers will
continue to have a significant local champion for Australian voices.
Through the sale, digiDirect gains the Angus & Robertson and Co-op brands (the
latter sells textbooks to Australian university students), around A$14 million
of inventory, and a large pool of monthly active customers.
The new owner, Shant Kradjian, told the
Australian Financial Review he
intends to immediately invest millions of dollars into rejuvenating the
company’s inventory. “The Booktopia infrastructure and systems are very good,
and we believe that with some investment and the right team and strategy, we’re
well-placed for growth,” he said."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
