The management team of Family Christian (@FCstores), the nation's largest Christian retail chain with 280 stores in 36 states, has partnered with a group of Atlanta-based Christian businessmen to acquire the company from its private equity owners. Terms of the transaction were not disclosed.
Under the new ownership, Family Christian's pledge is to contribute 100% of its profits to Christian causes and, specifically, ministries serving widows and orphans both in the USA and abroad. Family Christian has always been committed to providing resources for the Christian community, but the new ownership structure will allow the organization to not only equip Christians in their daily walk, but to increase the organization's impact by providing substantial financial support to faith-based causes.
Additionally, Family Christian president and CEO, Cliff Bartow, told Publishers Weekly the company has decided to drop its own e-reader – the edifi, launched in June – “because the technology is moving so rapidly, and this is not our core competency.” Instead, Family will work with Kobo (@kobo), carrying four of their color devices and three of their black-and-white devices for the Christmas season. “We definitely believe in the future of ebooks,” Bartow said. (Also see PW’s earlier article, “Family Christian Chain Launches E-Reader.”)
As for the future of brick and mortar, Bartow said, “We believe our stores are a viable concept. Today customers want to be served through multiple channels. Look at Apple--they do business online but their physical stores are also important. Our customers want the store experience. They want a place they can come for inspiration and interaction with our staff.”
Also see Christianity Today’s coverage.
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