College book store owner became a publishing giant by revolutionizing the bookstore model, leading to the decline of independent bookstores but eventually losing out to Amazon.
Leonard Riggio, a prominent businessman known for founding the Barnes & Noble retail chain, passed away at the age of 83 due to Alzheimer’s disease. Riggio, who came from humble beginnings as the son of a cabdriver, purchased a bookstore in Lower Manhattan in 1971 and transformed it into a leading bookstore chain in the United States. Barnes & Noble became a literary giant with numerous superstores across the country, offering a wide selection of books, along with additional amenities like coffee shops, stationery, and comfortable browsing spaces for customers.
By the end of the 20th century, Barnes & Noble had become a dominant force in the book-selling industry, accounting for a significant portion of nonacademic book sales in the country. The company’s aggressive tactics, such as securing prime display space for books and offering discounts, led to the closure of many independent bookstores, sparking criticism and backlash against Riggio for his role in reshaping the industry.
Despite the controversies surrounding Barnes & Noble’s business practices, Riggio was also recognized for his philanthropic efforts and support for causes like civil rights and Democratic initiatives. His legacy as a transformative figure in the world of bookselling remains complex, with both praise and criticism following his passing.
Source: The NY Times
