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Leonard Riggio, the mastermind behind Barnes & Noble, has died at the age of 83.
Reggio died “after a courageous battle with Alzheimer’s disease,” according to a statement from his family.
The company said the inventor transformed the company from a single bookstore into “the largest bookstore in the world,” with 150,000 textbooks and trade titles, in 1971.
“His leadership spanned decades, during which he not only grew the company but also fostered a culture of creativity and a love of reading,” Barnes & Noble said in a statement. “Lynn’s vision and entrepreneurial spirit changed the retail landscape.”
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Leonard Riggio, founder and chairman of Barnes & Noble, hosts the annual Guild Hall Charity Gala at his home in Bridgehampton, New York, USA, on Friday, August 9, 2013. (Amanda Gordon/Bloomberg via Getty Images/Getty Images)
According to to barnes and nobleRiggio created the “giant store” concept and transformed the industry through a series of acquisitions during the 1970s through the 1990s.
“Our libraries were designed to be welcoming, not intimidating,” Riggio told The New York Times in 2016. “These weren’t elitist places. You could walk in, get a cup of coffee, sit and read a book as long as you wanted, and use the bathroom. These were innovations that no one thought were possible.”
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In 1987, the company said it made its largest acquisition of 797 retail bookstores when it bought B. Dalton Booksellers along with Doublday Bookshops and BookStop.
The acquisition launched the store into the second largest bookseller in America. The company is currently the No. 1 bookseller in the United States.
In the early 1990s, Riggio created the “megastore” concept, which the company said “helped revolutionize bookselling by combining a broad and deep selection of book titles with experienced bookselling staff and a warm, comfortable, spacious atmosphere.”
Barnes & Noble signs are seen outside a store in Emeryville, California, U.S., Thursday, Feb. 16, 2012. (Paul Morris/Bloomberg via Getty Images/Getty Images)
In the 1990s, Barnes & Noble turned its attention to the changing landscape of the bookstore 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 from his position in 2016, but retained a large stake in it.
Leonard Riggio, founder and chairman of Barnes & Noble, and his wife, Louise Riggio, host the annual Guild Hall Charity Gala at their home in Bridgehampton, New York, USA, on Friday, August 9, 2013. (Amanda Gordon/Bloomberg via Getty Images/Getty Images)
Reggio has dedicated his life to literacy, education, and the arts, supporting organizations including the Children’s Defense Fund, the Anti-Defamation League, and the Dia Museum of Contemporary Art.
Together with his wife, Louise Riggone, the couple created the “Coming Home” project. The 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.
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