Barnes & Noble CEO James Daunt explains how supply chain issues could have a big impact on the availability of certain books ahead of the holiday shopping season.
Leonard Riggio, the mastermind behind Barnes & Noble, has died at age 83.
Riggio died “following a valiant battle with Alzheimer’s disease,” according to a statement issued by his family.
The innovator transformed the company from a single bookstore to “The World’s Largest Bookstore,” with 150,000 textbook and trade titles, in 1971, the company said.
“His leadership spanned decades, during which he not only grew the company but also nurtured a culture of innovation and a love for reading,” a statement from Barnes & Noble said. “Len’s vision and entrepreneurial spirit transformed the retail landscape.”
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Leonard Riggio, founder and chairman of Barnes & Noble Inc., hosts the Guild Hall annual benefit at his home in Bridgehampton, New York, U.S., on Friday, August 9, 2013. (Amanda Gordon/Bloomberg via Getty Images / Getty Images)
According to Barnes & Noble, Riggio created the concept of a “superstore” and transformed the industry through a series of acquisitions throughout the 1970s-1990s.
“Our bookstores were designed to be welcoming as opposed to intimidating,” Riggio told The New York Times in 2016. “These weren’t elitist places. You could go in, get a cup of coffee, sit down and read a book for as long as you like, use the restroom. These were innovations that we had that no one thought was possible.”
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In 1987, the company said that the bookstore made its largest acquisition of 797 retail bookstores when they purchased B. Dalton Booksellers along with Doublday Bookshops and BookStop.
The acquisition launched the store to become the second-largest bookseller in America. The company is currently the #1 book retailer in the U.S.
In the early 1990s, Riggio created the “superstore” concept, which, the company said, “helped revolutionize bookselling by combining a vast and deep selection of book titles with an experienced bookselling staff as well as a warm, comfortable and spacious atmosphere.”
Barnes & Noble signage is displayed outside of a store in Emeryville, California, U.S., on Thursday, Feb. 16, 2012. (Paul Morris/Bloomberg via Getty Images / Getty Images)
In the 1990s, Barnes & Noble turned their attention to the changing landscape of the bookstore industry by investing in e-commerce.
In 1997, the store launched their online store and entered the eBook market.
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Riggio sold the company in 2019 to Elliott, an activist investor group founded by billionaire Paul Singer.
He stepped down in 2016, but held onto a sizable stake.
Leonard Riggio, founder and chairman of Barnes & Noble Inc., left, and his wife Louise Riggio host the Guild Hall annual benefit at their home in Bridgehampton, New York, U.S., on Friday, August 9, 2013. (Amanda Gordon/Bloomberg via Getty Images / Getty Images)
Riggio dedicated his life to literacy, education and the arts, supporting organizations including the Children’s Defense Fund, the Anti-Defamation League and the Dia, a contemporary art museum.
Along with his wife, Louise Riggion, the pair created Project Home Again. The non-profit built and donated 101 homes in New Orleans following Hurricane Katrina.
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He is survived by his wife, three children and grandchildren.
The Associated Press contributed to this report.
