Net bookshop raises cash to take on rivals

Oxford-based company The Internet Bookshop, thought to be the second largest Internet book retailer in the world, has raised 1m through a share issue to develop its online merchandising services.

Shares will be dealt on OFEX, a share dealing facility operated by market maker JP Jenkins. The money raised is aimed at maintaining the company’s lead over domestic high street booksellers which have Internet sites.

Although the offer document notes the sites developed by book retailing rivals Blackwell, Dillons and Waterstones in the UK, it claims it can continue to lead the field in offering UK and European titles on the Net, and identifies US-based Amazon as its largest online competitor.

“Waterstones, Dillons, and Blackwell may be big brands in this country, but we all start from an even standing when it comes to marketing over the Internet abroad,” says chairman Simon Preston.

IBS, which exports four-fifths of its sales, is anticipating a fourfold increase in sales over the coming year. It sold just under 7,500 books in January, registering 19 per cent compound growth in monthly sales from May to December 1996, according to the offer document.

“We want this float now because we know there’s going to be a battle ahead,” says Preston. “We are one of two major players, so it makes sense to go for it now. We must look at improving our interactive sales. That means looking at things like professional sectors, and developing our databases and foreign language services. It all costs money.”

Recommended

Royal Mail offers pricing shake-up

Marketing Week

The Royal Mail will bow to demands to look at introducing a new pricing system for business post with the cost of the stamp depending on the day of delivery. If introduced, nominated pricing would mean the end of the two-tier first and second class system with enormous implications for the 5.5bn direct marketing industry. […]

Gong-ho hack eats into ‘Pilchard’

Marketing Week

The Diary swept the board at last week’s British Press Awards with more prizes than any other publication – scooping “Diary of the Year”, “Wittiest Diary Story”, “The Diarist’s Diarist”, and “Best Trimmed Nose Hair for a Diarist” awards. Or at least it would if it had entered. Elsewhere The Mirror tried to get its […]

ASA rejects Man United complaint over ‘offensive’ Britvic campaign

Marketing Week

The Advertising Standards Authority has rejected a complaint from Manchester United football club, after it tried to have an ironic ad for Britvic’s Red Card energy drink banned for attacking its reputation. The Premiership champions claimed a poster through HHCL & Partners for the energy drink, headlined: “If you can smell fear Man Utd must […]

Comments

    Leave a comment

    Close

    Discover even more as a subscriber

    This article is available for subscribers only.

    Sign up now for your access-all-areas pass.

    Subscribers get unlimited access to unrivalled coverage of the biggest issues in marketing and world-renowned columnists, alongside carefully curated reports and briefings from Econsultancy. Find out more.

    If you are an existing print subscriber find out how you can get access here.

    Subscribe now

    Got a question?

    Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

    If you are looking for our Jobs site, please click here

    Subscribers get unlimited access to unrivalled coverage of the biggest issues in marketing and world-renowned columnists, alongside carefully curated reports and briefings from Econsultancy. Find out more.

    If you are an existing print subscriber find out how you can get access here.

    Subscribe now