The Clothing Store Industry in Modum: Analysis of Companies, Statistics, and Outlooks

The clothing store industry in Modum is a small but active sector with 16 registered companies. In recent years, the industry has been marked by a decline in both sales and number of employees, with an average annual decline of over 10% in sales and 7% in number of employees. Although there are signs of a weak upturn in 2023 and 2024, the development remains negative. Vikersund and Åmot are the two most important geographical centers, with Vikersund being the most active area. The industry has not recorded any bankruptcies, but several companies report negative EBITDA margins. For entrepreneurs, it can be challenging, but there are opportunities in a local market situation with a focus on creative and culture-related activities.

Sales in the clothing store industry in Modum have been declining in recent years, with a total sales amount of NOK 24.1 million in 2025, compared to NOK 38.7 million in 2016. The number of employees has also fallen from 58 in 2016 to 27 in 2026. The most significant declines were in 2020 (–9.9%) and 2022 (–15.8%). There has, however, been a weak upturn in 2023 (+7.1%) and 2024 (+7.7%). EBITDA margins are generally negative, with an average margin of –2.5% for the entire period. This indicates that many companies in the industry have very high operating costs relative to revenue.

In Modum, there are 16 companies registered within the clothing store industry. The most well-known companies include Monett As (Vikersund), Zavanna Vikersund Avd 553 (Vikersund), and Herreavdelingen As (Åmot). Most companies are organized as AS, with 5 companies in this form. There are also several new companies established in 2025 and 2026, but these have no employees or sales yet. The organizational form statistics show that AS companies have higher operating income per employee (NOK 843,200) compared to ENK companies, but also higher operating activity per employee (NOK –840).

Vikersund is the most active area in Modum for the clothing store industry, with 3 companies and 19 employees. Åmot follows with 2 companies and 9 employees. Vikersund has higher sales (NOK 11.1 million) and higher gross profit (2202%) compared to Åmot (52%). The EBITDA margin in Vikersund is, however, negative (–4%), while Åmot has a positive margin (3%). Vikersund also has higher operating income per employee (NOK 587,000) compared to Åmot (NOK 1.3 million).

There are no bankruptcies registered in the clothing store industry in Modum. Nevertheless, several companies report negative operating results. For example, Zavanna Vikersund Avd 553 has an EBITDA of NOK –408,600, while Ma So As has an EBITDA of NOK –129,000. Herreavdelingen As is one of the few companies with a positive EBITDA (NOK 487,000). There are also several companies with zero employees and sales, such as Athala Al Madhi and Brightbizstudio Gani, which may indicate that some companies are in the start-up phase or are not actively operating.

For entrepreneurs in the clothing store industry in Modum, the development is challenging. Sales and number of employees have fallen sharply in recent years, and EBITDA margins are generally negative. This indicates that the industry is marked by high operating costs and low competition networks. Nevertheless, there are opportunities in a local market situation with a focus on creative and culture-related activities. Entrepreneurs should consider differentiating themselves through unique product offerings or focusing on cost reduction. SmartGrunder can help find suitable locations in Modum for clothing store activities.

The broader creative, arts, and entertainment activities sector in Modum has 26 companies, showing that the clothing store industry is part of a larger network. Sales in this sector have also been declining, but with a weaker decline than in the clothing store industry (–8.3% in 2025 compared to –10.4% for clothing stores). The number of employees in the sector has fallen from 78 in 2016 to 36 in 2026. Peer companies in the sector include knitwear stores, shoe stores, and second-hand stores, such as Anemone Design and Eurosko Vikersund. This shows that the clothing store industry is part of a broader market with variation in business forms and focus areas.

The clothing store industry in Modum is a small but active sector with challenges in the form of declining sales and number of employees. Although there are signs of a weak upturn in 2023 and 2024, the development remains negative. There are opportunities in a local market situation with a focus on creative and culture-related activities, but entrepreneurs must be prepared for high operating costs and low competition networks. SmartGrunder can help find suitable locations in Modum for clothing store activities.