I do like a good independent book shop, I alsways have done ever since my youth and many happy hours spent in Baggins Book Bazarre in Rochester.
This was a truly independent store, rickety and run by a lone bloke, but these days independent book shops may not be so independent anymore!
Behind the cozy displays and indie vibes, you’ll often find a web of corporate ownership - take Book Retail Midco Limited, for example, which is owned by US billionaire Paul Singer, via Elliott Investment Management.
These shops are individually quirky, but the ownership is anything but.
From a business angle, it’s clever. You get to hang onto the brand’s charm while reaping the benefits of big-scale operations. Customers who want to avoid giant corporations are lured in by the local feel even though, behind the scenes, it’s just another big player in disguise.
There is nothing at all ilegal about this, but it's defo dishonest!
Buying books isn’t just a transaction for a lot of people.
So when ownership sways spending habits, hiding who actually owns the shop is shady even if it makes sense financially.
Marketing is one thing. Misdirection is another. If a shop acts local and independent, people are going to assume their money stays nearby. But if the final say belongs to a global investment firm, that story falls apart.
However the harde truth is that, without big money behind them, many of these shops wouldn’t be here at all.
We may be getting the feel of a boutique, but it’s all bankrolled by big money.
If Waterstones still has passionate staff, hosts author events, and supports local readers, does it matter who’s cashing the checks?
And if having our cosy nooks require a little corporate backing who cares?
