Fixable How to bring a business back to life (w/ Barnes & Noble CEO James Daunt)
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Apr 7, 2025 James Daunt, CEO of Barnes & Noble and Managing Director of Waterstones, shares his remarkable journey in revitalizing the iconic bookstore chain. He discusses his innovative strategies, including a surprising plan to open 60 new stores despite e-commerce dominance. Daunt emphasizes the importance of a non-hierarchical leadership approach and the principle of kindness in business. He also explores adapting to challenges during the pandemic and reimagining bookstores as community hubs, illustrating how traditional retailers can thrive in a digital landscape.
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From Banking to Bookselling
- James Daunt's career began in banking, but he quickly realized his passion for books and reading.
- He opened his first bookstore at 24, right as the Gulf War impacted the economy, learning early about business challenges.
Independent Bookstore Success
- Daunt's independent bookstore thrived for 21 years, with increasing sales every month, even when chains struggled.
- He attributes this to careful curation, excellent customer service, and a positive work environment.
Saving Waterstones
- Daunt stepped in to save Waterstones, a struggling bookstore chain, due to his passion for the bookselling trade.
- He believed it could be revived by returning to core bookselling principles, eventually finding a backer.