The founder of Transilvania Bank, Horia Ciorcila and businessman Octavian Radu, who controls RTC Holding have set up a business literature publishing house, following a 150,000-euro investment, thus tapping into a niche market which generates no more than 5% of the total revenues on the book market.
Business book publishing house Injoy Books, set up a month ago, has published six business titles, including "Warren Buffet Speaks", "100 Minds that Made the Market", "The Only Three Questions that Count" in an average print run of 3,000 copies, at a price of 79 or 89 RON (18 to 21 euros) per copy.
Business books are a niche with very few competitors among Romanian publishing houses. Besides Injoy Publishing, also operating on this niche are Brand Builders and Publica, with 400,000-euro turnovers last year and 40 new titles a year.
Therefore the value of the business book market stands at no more than 4 million euros, given that the main players estimate the value of the entire market at 80 million euros last year. With this value, Romania ranks last in Europe in terms of book spending, which means a Romanian spends an average or 3 to 4 euros a year, while in Western Europe people spend tens of times more on books.
Injoy Books distributes its books through Diverta and other book stores, as well as in stores like Cora and Carrefour and online, says Flaviu Pastor, Diverta’s public relation and communication manager.
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