Follett Corporation
Encyclopedia
Follett Corporation is a River Grove, Illinois
-based company that provides a variety of educational products to schools, colleges, and public libraries through its subsidiaries.
In 1908, John Wilcox, William Barnes' father-in-law became the majority shareholder and the company was renamed C.M. Barnes - Wilcox Company. In 1912 Follett became vice president. In 1917 Barnes sold his remaining interest in the company to John Wilcox. (Later that year he would travel to New York
to partner with G. Clifford Noble and found Barnes & Noble
)
In 1918 Follett took over management as Wilcox was nearing retirement, and the company was again renamed, this time to J.W. Wilcox & Follett Company.
John Wilcox died in 1923 and the following year, C.W. Follett and his wife, Edythe, purchased the company. During the next two years, C.W. Follett’s three oldest sons—R.D. (Bob), Garth and Dwight—joined the family business. C.W.'s youngest son Laddie, who was still in grade school, joined the company in 1930.
During the next two decades, C.W.'s sons infused the company with ideas and enthusiasm, helping the company to evolve and grow. In 1925, Dwight founded the Follett Publishing Company. In 1930, R.D. Follett founded the Follett College Book Company and began wholesaling used textbooks to professors and college bookstores. The following year, R.D. established the company’s first retail bookstore on a college campus outside of Chicago. And in 1940, Garth Follett created Follett Library Book Company. Laddie Follett ran the company’s original business – Wilcox & Follett – from 1952 until 1986.
When C.W. Follett died in 1952 at the age of 70, Dwight Follett succeeded his father as chairman. The company continued to grow and was renamed Follett Corporation in 1957. The company is still known by that name today.
In 1998, Follett associates celebrated the company’s 125th anniversary. To strengthen the company’s ability to meet the needs of its customers, Follett aligned its various business units under three market groups: Higher Education, Elementary and High Schools and Libraries.
In 2000, Christopher Traut was elected President and Chief Executive Officer of Follett Corporation. In addition, Follett’s three core market groups were combined to form Follett Higher Education Group and Follett Library and School Group.
In 2010, Traut retired and Chuck Follett was promoted to CEO.
The decline in sales in the book industry coupled with the funding decline in the educational marketplace has left the Follett companies in turmoil. Rumors of a company sale, coupled with layoffs and restructuring further indicate a weakening corporation. Concentration on eBooks, technology and international markets is this corporation's focus on the future.
Today, Follett generates consolidated sales exceeding $2.6 billion and employs nearly 10,000 associates throughout the United States, Canada, and other parts of the world.
River Grove, Illinois
River Grove is a village in Cook County, Illinois, United States. The population was 10,668 at the 2000 census.-Geography:River Grove is located at .According to the United States Census Bureau, the village has a total area of ....
-based company that provides a variety of educational products to schools, colleges, and public libraries through its subsidiaries.
History
In 1901, C.W. Follett began working as a stock clerk for a small mail-order book company in Chicago, C.M. Barnes & Company, which had been founded in 1873 by Charles M. Barnes. In 1902, Barnes retired, and his son William took over the company. By now the company had evolved into a wholesaler, selling used books throughout the Midwest.In 1908, John Wilcox, William Barnes' father-in-law became the majority shareholder and the company was renamed C.M. Barnes - Wilcox Company. In 1912 Follett became vice president. In 1917 Barnes sold his remaining interest in the company to John Wilcox. (Later that year he would travel to New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
to partner with G. Clifford Noble and found Barnes & Noble
Barnes & Noble
Barnes & Noble, Inc. is the largest book retailer in the United States, operating mainly through its Barnes & Noble Booksellers chain of bookstores headquartered at 122 Fifth Avenue in the Flatiron District in Manhattan in New York City. Barnes & Noble also operated the chain of small B. Dalton...
)
In 1918 Follett took over management as Wilcox was nearing retirement, and the company was again renamed, this time to J.W. Wilcox & Follett Company.
John Wilcox died in 1923 and the following year, C.W. Follett and his wife, Edythe, purchased the company. During the next two years, C.W. Follett’s three oldest sons—R.D. (Bob), Garth and Dwight—joined the family business. C.W.'s youngest son Laddie, who was still in grade school, joined the company in 1930.
During the next two decades, C.W.'s sons infused the company with ideas and enthusiasm, helping the company to evolve and grow. In 1925, Dwight founded the Follett Publishing Company. In 1930, R.D. Follett founded the Follett College Book Company and began wholesaling used textbooks to professors and college bookstores. The following year, R.D. established the company’s first retail bookstore on a college campus outside of Chicago. And in 1940, Garth Follett created Follett Library Book Company. Laddie Follett ran the company’s original business – Wilcox & Follett – from 1952 until 1986.
When C.W. Follett died in 1952 at the age of 70, Dwight Follett succeeded his father as chairman. The company continued to grow and was renamed Follett Corporation in 1957. The company is still known by that name today.
In 1998, Follett associates celebrated the company’s 125th anniversary. To strengthen the company’s ability to meet the needs of its customers, Follett aligned its various business units under three market groups: Higher Education, Elementary and High Schools and Libraries.
In 2000, Christopher Traut was elected President and Chief Executive Officer of Follett Corporation. In addition, Follett’s three core market groups were combined to form Follett Higher Education Group and Follett Library and School Group.
In 2010, Traut retired and Chuck Follett was promoted to CEO.
The decline in sales in the book industry coupled with the funding decline in the educational marketplace has left the Follett companies in turmoil. Rumors of a company sale, coupled with layoffs and restructuring further indicate a weakening corporation. Concentration on eBooks, technology and international markets is this corporation's focus on the future.
Today, Follett generates consolidated sales exceeding $2.6 billion and employs nearly 10,000 associates throughout the United States, Canada, and other parts of the world.
Operating units
- Follett Higher Education Group operates college bookstores at over 820 campuses in the United States and Canada.
- Follett Library Resources provides K-12 school libraries with fulfillment services for books and other materials.
- Follett Software Company provides automation solutions to K-12 districts and schools to better manage their libraries, textbooks, assets, media and data-warehouse.
- Follett Educational Services buys and sells used textbooks from schools.
- Book Wholesalers, Inc. (BWI) provides public libraries with fulfillment services for books and other materials.
- Follett International (FINT) provides educational technology and print solutions to over 150 countries.
External links
- http://www.follett.com/ - Official Website
- http://www.efollett.com/ - Official commerce website for Follett network of bookstores
- http://www.intellectualpropertyaustin.com/ - Follett's Austin based book store with its main merchandise being trade books
- http://www.FollettSoftware.com - Follett Software Company, connecting information and resources to support high-performance learning environments
- http://www.TetraData.com - TetraData, K-12 Data-Driven Performance Solutions
- http://www.follettinternational.com - Follett International, enhancing the teaching and learning experience worldwide
- http://www.flr.follett.com/ - Follett Library Resources, providing books and audiovisual materials to K-12 school libraries
- http://www.bwibooks.com/ - Book Wholesalers, Inc., supplying books and other materials to public librarie
- http://www.follettearlylearning.com/ - Provides books, videos, interactive materials and more to pre-school and early learning centers
- http://www.ft.com/cms/s/2/aba042dc-ae5e-11e0-844e-00144feabdc0,dwp_uuid=e8477cc4-c820-11db-b0dc-000b5df10621.html#axzz1d3KdoX6K
- http://www.nwherald.com/mobile/article.xml/articles/2011/09/23/r_cuvc8_nrtym8rlzbo9cbca/index.xml