The Clothing Store Industry in Øvre Eiker

The clothing store industry in Øvre Eiker shows a mix of stability and variation. With 16 registered companies (out of a total of 22 in the municipality) and an average annual sales volume of over 37 million NOK, the industry is an important part of the local economy. There is, however, a clear variation between companies, with some achieving high EBITDA margins (up to 32%) and others reporting negative results. Øvre Eiker has not registered any bankruptcies in the industry, but there are several companies with negative operating results, which should be considered by new entrants.

Sales and Employees

Sales increased by 6% in 2020, but fell by 13.5% in 2025. The number of employees decreased by 14% between 2021 and 2022, but has since stabilized with an increase of 12.2% in 2026. This shows some variations in the industry, with a short-term upswing in 2023-2024.

Key Companies

The most well-known companies in the industry include:

• Kappahl As (Hokksund): 10 employees, 15.1M in sales, 11% EBITDA margin
• Match Eiker As (Hokksund): 10 employees, 6.6M in sales, 21% EBITDA margin
• Nova Of Norway As (Hokksund): 10 employees, 6.4M in sales, 3% EBITDA margin
• Shine Fashion As (Vestfossen): 1 employee, 1.1M in sales, 3% EBITDA margin

Most companies are ASs (8 out of 16), while there are also ENKs (single-person businesses) in the industry. Some companies have 0 employees and 0 sales, which may indicate recently registered or inactive companies.

Distribution by Suburb

Hokksund dominates with 7 companies and 48 employees, while Vestfossen has only one company (Shine Fashion As) with 1 employee. Sales in Hokksund are 37.9M, while Vestfossen has 1.1M. This shows a clear concentration of activity in Hokksund, which is the main commercial area in the municipality.

There are no registered bankruptcies in the industry, but several companies have negative operating results:

• Be Amazing As (Hokksund): -4% EBITDA margin
• Zavanna Eikersenteret As (Hokksund): -11% EBITDA margin
• Marianne As (Hokksund): -14% EBITDA margin

These companies have higher operating costs than revenues, which may be a signal of economic challenges. This should be considered by new entrants looking to establish themselves in the industry.

Outlook for New Entrants

The industry shows a mix of stability and variation. With an average annual sales volume of over 37 million NOK and a stable number of employees (41 in 2025), there is potential for growth. This is especially evident in Hokksund, which has a dominant market share. This can be an advantage for new entrants looking to establish themselves in the municipality. However, it is important to be aware of the negative operating results of some companies, which may indicate competitiveness and economic challenges in the industry.

Comparison with the Broader Industry

Creative, arts, and entertainment activities (sector 2) have 37 companies in the municipality, showing that the clothing store industry is part of a larger sector. Sales in the broader industry increased by 1.5% in 2024, while the clothing store industry decreased by 13.5% in 2025. This shows that the clothing store industry has a more volatile development than the broader industry. Peer companies in the broader industry include shoe stores and second-hand shops, which may be relevant for new entrants looking to diversify.

The clothing store industry in Øvre Eiker shows a mix of stability and variation. With an average annual sales volume of over 37 million NOK and a stable number of employees (41 in 2025), there is potential for growth. This is especially evident in Hokksund, which has a dominant market share. This can be an advantage for new entrants looking to establish themselves in the municipality. However, it is important to be aware of the negative operating results of some companies, which may indicate competitiveness and economic challenges in the industry. SmartGrunder can help entrepreneurs find suitable addresses in the municipality for this industry.