||This biographical article needs additional citations for verification. (August 2013)|
|Leonard S. Riggio|
February 28, 1941 |
Bronx, New York, United States
|Alma mater||New York University|
Early life and education
While at New York University, Riggio founded the Student Book Exchange in 1965 and turned this small book store into a leading retailer. He acquired the Barnes & Noble bookstore in New York City in 1971 and adopted its name for his expanding company. Through the years, he acquired hundreds of bookstores and launched the Barnes & Noble superstore concept with an in-store coffee shop and spacious reading alcoves.
Leonardo Riggio is recognized as the first entrepreneurs who has turned the elite-ish world of bookstores into recreational stores. In 1997, Barnes & Nobles had 483 superstores, 528 mall-based B.Daltons, and sales went up to $2.8 billion. The company went public in 1993.
In addition, Riggio launched barnesandnoble.com to compete with Amazon.com for on-line book sales and launched a successful video game retail operation which grew to become GameStop. By the end of the 20th century, Riggio had built Barnes & Noble into the largest book seller in the world.
Since 1985, he has been chairman of the board and "a principal beneficial owner of MBS Textbook Exchange, Inc." based in Columbia, Missouri, one of the nation's largest wholesalers of college textbooks.
Over time he expanded the business, and eventually spun Barnes & Noble out of that college bookstore chain.
Riggio's awards include the Americanism Award from the Anti-Defamation League in November 2000. This award is the ADL's highest honor.
He also established Project Home Again to assist residents of New Orleans, Louisiana, who were affected by Hurricane Katrina in 2005. Project Home Again will spend $20 million from the Riggio Foundation to build new homes in the Gentilly neighborhood of New Orleans. The pilot phase involves building 20 new homes on St. Bernard Avenue. On November 10, 2011, the program cut the ribbon on its 101st home. In addition to rebuilding the homes, the Riggios, through a partnership with Rooms to Go, also furnished the homes. On November 24, 2009, New Orleans Mayor Mitch Landrieu awarded the Riggios keys to the City of New Orleans at a City Council meeting.
- "Profile: Leonard S. Riggio". Business Week. June 29, 1998. Retrieved August 17, 2009.
- Trachtenberg, Jeffrey A. (February 19, 2010). "Barnes & Noble Won't Let Burkle Raise Stakes – Board's Unanimous Decision to Bar Activist Investor from Holding 37% of Bookseller's Shares Could Lead to Proxy Fight". The Wall Street Journal. Retrieved August 21, 2013.
- Jeanne Dugan, The Baroon of Books, Business Week, 9 June 1998
- Moran, Kate (February 27, 2008). "Barnes & Noble Chairman Follows His Heart, Opens His Wallet". The Times-Picayune. Retrieved August 21, 2013.