Romania's Cultural Institute (ICR) is looking to open bookstores in several major cities around the world. With a budget estimate of EUR 320,000 a year in total, the ICR wants to open bookshops selling Romanian literature in eight cities, including New York, Paris and London.

“ICR has spent around EUR 900,000 attending book fairs this year. Certainly, bookstores cost less. Costs will vary depending on the solution chosen, but it is clear they will be approximately EUR 40,000 euro / unit / year,” ICR representatives told Mediafax. As well as New York, Paris and London, ICR hopes to set up bookstores or concessions in larger bookshops in Madrid, Rome, Tel Aviv, Vienna and Berlin.

The EUR 320,000 total figure comes from ICR's estimate for an average budget per city of EUR 40,000, which should cover the rent for a small boutique in Paris, but would probably not be enough to rent a shop in London, for example. However, more than rental price of retail space should be taken into account when evaluating the administration costs for a shop. The ICR has three potential strategies for setting up outlets; independent bookstores, concessions in other bookstores and using space within ICR's existing premises.

ICR representatives told Mediafax that the solutions will be chosen depending on the situation in the various cities, mentioning that the ICR already had a concession agreement with the European Bookshop in London.

The costs will be partly covered between the 2013 and 214 ICR budgets, but no date has been given for the opening of outlets.

editor@romania-insider.com

photo source: sxc.hu