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Leonard Riggio, the mastermind behind Barnes & Noble, has died at the age of 83.
According to a statement released by his family, Riggio died “after a courageous struggle with Alzheimer's disease.”
The innovator transformed the company from a single bookstore in 1971 into “the world's largest bookstore,” carrying 150,000 textbooks and trade titles, the company said.
“His leadership spanned decades, during which he not only steered the company forward, but also fostered a culture of innovation and a love of reading,” said a statement from Barnes & Noble. “Lane's vision and entrepreneurial spirit transformed the retail landscape.”
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Leonard Riggio, founder and chairman of Barnes & Noble Inc., attends the Guild Hall Annual Benefit Gala 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 the “superstore” and transformed the industry through a series of acquisitions from the 1970s to the 1990s.
“Our bookstores were designed to be welcoming rather than intimidating,” Riggio told the New York Times in 2016. “These were not elitist places. You could go in, get a cup of coffee, sit and read a book as long as you wanted, use the restroom. These were innovations that we had that no one thought was 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 Doubleday Bookshops and Bookstop.
After this acquisition the store became the second largest book retailer in the US. The company is currently the #1 book retailer in the US
In the early 1990s, Riggio created the “superstore” concept, which the company said “helped revolutionize bookselling by combining a large and deep selection of books with an experienced bookselling staff and a warm, comfortable and spacious atmosphere.”
Barnes & Noble signage is displayed outside a store on Thursday, February 16, 2012 in Emeryville, California, USA. (Paul Morris/Bloomberg via Getty Images/Getty Images)
In the 1990s, Barnes & Noble focused its attention on the changing landscape of the book industry 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 stepped down in 2016 but retained a major stake.
Barnes & Noble Inc. founder and chairman Leonard Riggio (left) and his wife Louise Riggio host the Guild Hall Annual Benefit Gala 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 and supported numerous organizations, including the Children’s Defense Fund, the Anti-Defamation League and the contemporary art museum Dia.
Together with his wife, Louise Rigion, he created Project Home Again. This nonprofit 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.