83-year-old Leonard Riggio, who turned Barnes & Noble into the largest US bookseller, passed away.

Leonard Riggio, the entrepreneur who transformed Barnes & Noble into the largest bookseller in the US, passed away at 83. Riggio began his 48-year tenure in 1971, purchasing the company's name and flagship store with a $1.2 million loan. Over the next 20 years, he expanded the business with hundreds of new stores, and in the 1990s, he launched a nationwide chain of "superstores" that combined a chain's discount prices and massive capacity with a cozy atmosphere featuring reading chairs, couches, and cafes. By the end of the 1990s, one in eight books sold in the US were purchased through Barnes & Noble. However, the rise of Amazon eventually overshadowed Barnes & Noble's dominance in the bookselling market.

August 27, 2024
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