Barnes & Noble's acquisition of another independent bookstore chain: an explanation.
In a move that signals a commitment to the book industry, Barnes & Noble, the popular American bookstore chain, has announced plans to acquire Books Inc., a California-based bookstore chain with a rich 174-year history.
The acquisition, valued at $3.25 million, is set to take place next year, and Barnes & Noble has assured that Books Inc.'s seven locations will retain their names and independent identity. This approach is part of Barnes & Noble's strategy under CEO James Daunt, who has a background in running independent bookstores. Daunt previously managed Daunt Books and Waterstones in the UK.
Under Daunt's leadership, Barnes & Noble has been adopting practices from independent bookstores. Decentralising buying decisions and empowering local managers allow each store to maintain its own character. By acquiring struggling independent bookstore chains like Books Inc. and Tattered Cover, Barnes & Noble is positioning itself as a steward rather than a competitor of indie bookstores.
The acquisition will grant Books Inc. access to Barnes & Noble's distribution network and upgraded technology, which management hopes will help the chain navigate its recent financial challenges. Books Inc. filed for bankruptcy earlier this year.
Customers can rest assured that their current loyalty points will be honoured, and management has assured current employees that inventory curation, staffing, and leadership will remain under local jurisdiction. The locations and names of the new stores are yet to be determined.
The acquisition has sparked a debate about the impact of big box corporations on indie bookstores. Some argue that such acquisitions could lead to homogenisation, while others see Barnes & Noble as a lifeline for struggling indie bookstores that may otherwise vanish.
James Daunt, in a nod to the classic "You've Got Mail" plot, expressed a sense of nostalgia for the CEO who values the product he sells. He has emphasised Barnes & Noble's commitment to preserving the integrity of the stores it acquires, such as the recent acquisition of Tattered Cover in Colorado.
The acquisition of Books Inc. is not seen as an empire-building manoeuvre by Barnes & Noble. Instead, it is part of a larger strategy to expand the chain, with plans to open 60 more stores next year. Barnes & Noble sales have been steadily growing under Daunt's leadership.
As Barnes & Noble continues to grow, it remains committed to maintaining the distinction between itself and indie bookstores. By preserving the identities of the stores it acquires, Barnes & Noble aims to support indie bookstores while also expanding its own presence in the book industry.
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