Industry · municipality
Clothing Retail in Vågan: Industry Profile, Companies, and Outlook
A detailed analysis of the clothing retail industry in Vågan Municipality based on local data and market development (2016–2025).
Executive Summary
The clothing retail industry in Vågan is an important part of the municipality's local economy, with 16 registered companies and a total of approximately 70 employees in 2026. Svolvær is the dominant area, with 8 companies and 52 employees. The industry has shown both strength and uncertainty over time, with a sales peak in 2024 (NOK 71.9 million) and a sharp decline in 2025. Although some companies report negative EBITDA, there are no bankruptcy registrations in the sector, indicating relative stability. For entrepreneurs, Vågan offers both opportunities and challenges, especially in Svolvær, where the market is most concentrated.
Economic Overview
Sales Development (2016–2025):
| Year | Sales (NOK) | Year-over-Year Change |
|---|---|---|
| 2016 | 55.9M | - |
| 2017 | 56.6M | +1.4% |
| 2018 | 48.6M | -14.2% |
| 2019 | 51.2M | +5.4% |
| 2020 | 56.4M | +10.1% |
| 2021 | 53.8M | -4.6% |
| 2022 | 60.4M | +12.4% |
| 2023 | 63.9M | +5.7% |
| 2024 | 71.9M | +12.4% |
| 2025 | 50.4M | -29.9% |
Employees (2016–2026):
| Year | Number of Employees | Year-over-Year Change |
|---|---|---|
| 2016 | 64 | - |
| 2017 | 63 | -1.6% |
| 2018 | 59 | -6.3% |
| 2019 | 67 | +13.6% |
| 2020 | 69 | +3.0% |
| 2021 | 66 | -4.3% |
| 2022 | 65 | -1.5% |
| 2023 | 69 | +6.2% |
| 2024 | 73 | +5.8% |
| 2025 | 71 | -2.7% |
| 2026 | 66 | -7.0% |
Sales rose sharply in 2024 but fell by 29.9% in 2025. Employee numbers have shown a more stable development, with a decline of 7.0% in 2026. This may indicate that the industry has been affected by external factors such as economic cycles, tourism, and competition from online retail.
Companies in the Industry
Vågan has 16 registered companies in the clothing retail industry, with the following major companies:
- Cubus Svolvær Avd 805 (Lofotgata 33, Svolvær): 9 employees, NOK 12.7M in sales, EBITDA 9%.
- Match Svolvær Avd 284 (Amfi Svolvær): 8 employees, NOK 8.8M in sales, EBITDA 21%.
- Kappahl As Avd 369 Svolvær (Amfi Svolvær): 6 employees, NOK 10.1M in sales, EBITDA 11%.
- Hos Emilie As (Sentrums bygget, Svolvær): 6 employees, NOK 5.5M in sales, EBITDA 9%.
- Min (m/n) As (Henningsvær): 5 employees, NOK 5.9M in sales, EBITDA 5%.
Most companies are AS entities (11 companies), indicating a high degree of organizational stability. Some companies, such as Zavanna Alti Svolvær Avd 674 and Vero Moda / Jack & Jones Svolvær, report negative EBITDA, which may signal economic challenges.
Business Geography
The clothing retail industry is most concentrated in Svolvær, where there are 8 companies and 52 employees. Henningsvær and Kabelvåg have less activity, with 2 and 1 companies respectively. Here is a comparison:
| Location | Number of Companies | Number of Employees | Sales (NOK) | EBITDA (NOK) |
|---|---|---|---|---|
| Svolvær | 8 | 52 | 55.6M | 4.5M |
| Henningsvær | 2 | 10 | 5.9M | 314K |
| Kabelvåg | 1 | 9 | 0 | 0 |
Svolvær is the central market, with higher sales and employee numbers. Kabelvåg had no activity in 2025, which may indicate a temporary decline or a potential new company registration in the future.
Business Dynamics
Bankruptcy Statistics: There are no bankruptcy registrations in the clothing retail industry in Vågan, indicating relative stability in the sector. This is a positive indicator for entrepreneurs and existing companies.
Development of Individual Companies:
- Zavanna Alti Svolvær Avd 674 has a negative EBITDA of -11% in 2025, which may be a result of high wages or low sales margin.
- Vero Moda / Jack & Jones Svolvær has a negative EBITDA of 0% in 2025, which may indicate an early stage in the company's operations.
Conclusion: Although some companies face challenges, there are no bankruptcies, indicating that the industry has a certain degree of resilience.
Outlook
Outlook for Entrepreneurs
For entrepreneurs in the clothing retail industry in Vågan, there are both opportunities and challenges. Sales rose sharply in 2024 but fell by 29.9% in 2025, which may be influenced by external factors such as economic cycles and competition from online retail. Svolvær is the most concentrated market, and it may be advantageous to focus on this area. There are no bankruptcy registrations, indicating stable operations. Entrepreneurs should also be aware of the negative EBITDA values of certain companies, which may signal economic challenges in the sector.
Outlook for the Broader Industry
Creative, Arts, and Entertainment Activities is a broader industry in Vågan, with 21 companies and 78 employees in 2026. This industry has a more stable sales development compared to the clothing retail industry, with a peak in 2024 (NOK 84.7M) and a decline of 25.1% in 2025. The clothing retail industry has fewer companies (16) and a less stable sales development, but a higher number of employees (70) compared to the broader industry (78 employees). This suggests that the clothing retail industry plays a more central role in Vågan's local economy.
Peer Companies in the Broader Industry:
- Euro Sko Svolvær As (shoe store): NOK 7.9M in sales, 5 employees.
- Sko & Garn As (shoe store): NOK 5.3M in sales, 5 employees, negative EBITDA.
- Bersvendsen Second Hand (second-hand store): 0 employees, 0 sales.
This shows that the broader industry includes both clothing stores and other sectors such as shoe stores and second-hand stores. Entrepreneurs should consider diversifying or collaborating with such companies to strengthen their position in the market.
Other companies in kreative, kunst og underholdningsaktiviteter (not in clothing store)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Euro Sko Svolvær As | footwear store | Lofotgata 33, 8300 Svolvær | NOK 7.9M | 5 | NOK 208.0K |
| Bersvendsen Second Hand | second-hand goods store | Barstrandveien 736, 8314 Gimsøysand | NOK 0 | 0 | NOK 0 |
| Ho Milla Lone Pedersen | knit store | Dreyers gate 60, 8312 Henningsvær | NOK 0 | 0 | NOK 0 |
| Second Hand And Div On Wheels Da | second-hand goods store | Dreyers gate 47, 8312 Henningsvær | NOK 0 | 0 | NOK 0 |
| Sko & Garn As | footwear store | Vestfjordgata 14, 8300 Svolvær | NOK 5.3M | 5 | NOK -76.0K |
Conclusion
The clothing retail industry in Vågan has shown both strength and uncertainty over time, with a sales peak in 2024 and a sharp decline in 2025. Svolvær is the most concentrated market, and it may be advantageous to focus on this area. There are no bankruptcy registrations, indicating stable operations. Entrepreneurs should be aware of the negative EBITDA values of certain companies, which may signal economic challenges in the sector. SmartGrunder can help entrepreneurs find suitable addresses in Vågan for the clothing retail industry, based on local conditions and market outlooks.