Oct 14, 2008

Chapters CEO unveils eco-gift store PistachioBy Hollie ShawFinancialPost.com

Toronto, Canada — Opening an eco-gift store at which one can spend $30 on beeswax kids’ crayons in the midst of an historic economic crisis might deter some retailers, but not Heather Reisman.

The chief executive of Indigo Books and Music Inc. on Tuesday launched her latest store concept, Pistachio, in a tony north Toronto neighbourhood and plans to roll it out nationally.

“The [target consumers] are the people who shop at Whole Foods and are getting on Bullfrog Power,” she said. “It’s an early and growing segment. The first couple of months might be tough, but this is a long-term strategy.”

Ms. Reisman admitted that she was never “one of those people in Birkenstocks hugging trees” but was urged a decade ago by her children to start eating organic food and has realized it was still a relatively untapped market for gifts, beauty products and stationery.

The target consumer cited by Pistachio co-presidents Kirsten Chapman and Tracie Wagman is from the so-called LOHAS (lifestyles of health and sustainability) demographic, a fairly well-educated middle-class and upward segment willing to pay more for sustainable products, energy-efficient appliances and organic goods.

The store features recycled materials, a bright and airy design and is evocative of Ms. Reisman’s style in Indigo’s gifts – elegant, with a touch of whimsy. About 60% of stock is paper products, 25% is gift products and 15% is beauty. The last one is a segment that Ms. Reisman, who cites the debut of a new juice-based natural beauty line from Aveda founder Horst Rechelbacher, Intelligent Nutrients, is keen on growing.

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