Barnes & Noble CEO James Daunt explains how supply chain issues could have a significant impact on the availability of some books ahead of the holiday shopping season.
Leonard Riggio, the mastermind behind Barnes & Noble, has died at the age of 83.
Riggio died “after a valiant battle with Alzheimer’s disease,” according to a statement released by his family.
The innovator transformed the company from a simple bookstore into “the world’s largest bookstore,” with 150,000 titles of textbooks and business books, by 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 of reading,” Barnes & Noble said in a statement. “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 annual Guild Hall Charity Party at his home in Bridgehampton, New York, U.S., on Friday, Aug. 9, 2013. (Amanda Gordon/Bloomberg via Getty Images / Getty Images)
According to Barnes & Noble, Riggio created the concept of the “supermarket” and transformed the industry through a series of acquisitions throughout the 1970s and 1990s.
“Our bookstores were designed to be welcoming, not intimidating,” Riggio told The New York Times in 2016. “They weren’t elitist places. You could come in, get a cup of coffee, sit and read a book for as long as you wanted, use the restroom. These were innovations that we had that no one thought were possible.”
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In 1987, the company said the bookstore made its largest acquisition of 797 retail bookstores when it purchased B. Dalton Booksellers along with Doublday Bookshops and BookStop.
This acquisition propelled the bookstore to the second largest bookseller in America. The company is currently the leading book retailer in the United States.
In the early 1990s, Riggio created the “supermarket” concept, which the company says “helped revolutionize bookselling by combining a broad and deep selection of book titles with an experienced bookseller staff and a warm, comfortable and spacious atmosphere.”
The Barnes & Noble sign is displayed outside a store in Emeryville, California, U.S., on Thursday, February 16, 2012. (Paul Morris/Bloomberg via Getty Images / Getty Images)
In the 1990s, Barnes & Noble took an interest in the changing bookstore landscape by investing in e-commerce.
In 1997, the store launched its online store and entered the e-book market.
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Riggio sold the company in 2019 to Elliott, an activist investor group founded by billionaire Paul Singer.
He resigned in 2016, but retained a significant stake.
Leonard Riggio, founder and chairman of Barnes & Noble Inc., left, and his wife Louise Riggio host the annual Guild Hall charity event at their home in Bridgehampton, New York, U.S., on Friday, Aug. 9, 2013. (Amanda Gordon/Bloomberg via Getty Images / Getty Images)
Riggio has dedicated his life to literacy, education and the arts, supporting organizations such as the Children’s Defense Fund, the Anti-Defamation League and Dia, a contemporary art museum.
With his wife, Louise Riggion, they founded Project Home Again, a nonprofit that built and donated 101 homes in New Orleans after Hurricane Katrina.
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He is survived by his wife, three children and grandchildren.
The Associated Press contributed to this report.
