Bookseller Steimatzky Group Ltd. plans to win 20% of the office supply market, which it entered in January 2013. The company is opening points of sale for office supplies at 70 of its 133 stores at an investment of NIS 1 million.
"The regular office supplies market amounts to NIS 200 million, the back-to-school market is another NIS 250 million, and the institutional market is NIS 800 million. We want to be a player in a NIS 200 million market," says Steimatzky CEO Iris Barel. "We have a better deployment than any other party in the sector. We hope to take 20% of the market within a few years, i.e. NIS 40 million in sales."
Steimatzky's current office supplies sales are NIS 5 million a year.
Less than two months after the Books Law came into effect, the publication of new books has fallen from 400 a month to 150. Responding to critics among publishers, Barel said, "For years, publishers complained about four books for NIS 100 sales, but in January, just before the law came into force, they published many books."
Published by Globes [online], Israel business news - www.globes-online.com - on April 1, 2014
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