“We ended the first half with 15% growth on the year-ago period. The factors that led to this growth include the expansion of our portfolio, development of non-conventional distribution channels, such as our own mini-bookstores in major shopping centers, partnerships with publications and printing books for partner companies,” said Marin Vidrascu, chief executive of Litera. Litera was established by the Vidrascu family in 1989 and last year published 789 titles.
Grup Editorial Litera posted 50.8 million lei (EUR11 million) and RON6.9 million net profit in 2016 compared with RON41 million revenue and RON5.4 million net profit in 2015, according to Finance Ministry data. The publishing group has seen growth year by year.
“As in any industry, trends in the book publishing business are changing fast. Our figures show an increase in the sales of self-help books, as well as practical books, from knitting and fishing to adult coloring books. Our online sales saw the highest increase, beating previous figures by far and becoming Litera’s second most important distribution channel after bookstores.”
Litera budgeted growth of 30% in 2017, Marian Vidrascu says.
“We hope the greater supply of titles will help us, but the book market needs to grow as a whole and that cannot be done without development of distribution chains and funding and projects backed by the government and other cultural organizations.” (EUR1=RON4.5871)
(English version by Loredana Fratila-Cristescu)