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Borders

Borders Group (NYSE: BGP) is an international bookseller based in Ann Arbor, Michigan. Borders is a Fortune 500 company, and is (as of 2005) the second-largest bookstore chain in the United States (after Barnes & Noble), selling a wide variety of books, CDs, DVDs, periodicals, as well as gifts and stationery.

Borders owns a majority stake in Paperchase Products Limited, a leading gifts and stationery retailer in the United Kingdom, and showcases their products in their stores, as well as Books etc., Tim Waterstone's other, mostly London-based bookshop chain. In 2004, Borders reached an agreement with Starbucks subsidiary Seattle's Best Coffee to operate the cafes in its domestic superstores under the Seattle's Best brand name.

As of 2006, there are about 500 Borders stores in the United States, and around 700 Waldenbooks and Borders Express stores in U.S. malls.

The original Borders bookstore is located in Ann Arbor, Michigan, where it was founded in 1971 by brothers Tom and Louis Borders during their undergraduate and graduate years at the University of Michigan. The Borders brothers' inventory system tailored each store's offerings to its community. A sister company, Book Inventory Systems (1971-1994), was founded at the same time to serve as a wholesaler for, and provide the brothers' custom inventory system not to, regional independent bookstores such as John Rollins, Thackeray's, Schuler Books, and Joseph-Beth Booksellers. Until Borders Superstore expansion occurred in the early 1990s, BIS serviced more independent stores than Borders stores. Former Hickory Farms president Robert F. DiRomualdo was hired in 1989 to expand the company.

In 1997, the company established its first international store in Singapore, occupying 32,000 square feet in Wheelock Place, Orchard Road, which was then the largest bookstore there. It has since opened another 40 stores in the United Kingdom, Ireland, Australia, and New Zealand, and 35 Books etc. stores throughout Britain. However, due to the fierce competition in the UK marketplace, a number of these Books etc. stores will be closed and will be replaced by larger Borders stores in retail parks on the edge of town. In Q3 2006, the Singapore store emerged as the best performing amongst the entire group's 559 outlets, with the highest revenue generated per Square feet. The highest grossing store in US territory is located in Puerto Rico.

In April, 2005, Borders Group opened its first franchise store with Malaysia's Berjaya Group Berhad in Kuala Lumpur. It is located in Berjaya Times Square, which is the world's biggest mall built in a single phase, with 7,500,000 square feet (700,000 m²). Incidentally, the store in Berjaya Times Square is advertised as being the world's biggest Borders at 60,000 square feet (5,600 m²). After Berjaya Times Square, Borders opened their 2nd store in Malaysia. It is located in The Curve, Mutiara Damansara. The 3rd Borders store opened in Queensbay Mall, Penang. Borders opened a franchise store in Mall of the Emirates in Dubai, UAE in October 2006.

Source: Wikipedia - News Reports

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