Leonard Riggio, known for transforming Barnes & Noble into a major bookseller before the rise of Amazon.com, has passed away at age 83. Riggio, who battled Alzheimer’s disease, left his chairman position in 2019 when the company was acquired by hedge fund Elliott Advisors. During his tenure, he expanded Barnes & Noble and emphasized a culture of innovation and a passion for reading. Starting in 1971, Riggio acquired Barnes & Noble and grew it into a national chain of “superstores” offering a inviting atmosphere for customers to read and relax.
Riggio’s influence in the book world was substantial, with the power to determine bestsellers and impact market trends. By the end of the 1990s, Barnes & Noble accounted for a significant portion of book sales in the U.S., leading to the closure of numerous independent booksellers. Despite facing criticism and legal action, Riggio’s Barnes & Noble continued to dominate the industry for decades.
However, the rise of internet commerce, particularly Amazon.com, posed a significant challenge to Barnes & Noble’s traditional retail model. Attempts to launch e-book readers and online platforms were unable to compete with Amazon’s innovative strategies. Barnes & Noble’s struggles intensified as more stores closed in the face of online competition.
In his later years, Riggio found common ground with independent booksellers in advocating for the importance of physical bookstores in the age of online giants. Despite the company’s challenges and changes in leadership, Riggio maintained a passion for bookselling and connecting readers with books they would enjoy.
Riggio’s entrepreneurial journey began with a small bookshop in 1965, leading to the acquisition of Barnes & Noble and its subsequent growth under his leadership. He was remembered not only for his business acumen but also for his philanthropy, political activism, and commitment to supporting the arts and reading culture. Riggio’s legacy in the publishing industry reflects both his impact as a business leader and his contributions to promoting literacy and community through books.
