Industry · municipality
The Clothing Store Industry in Vestvågøy: Current Situation and Future Prospects
A Detailed Analysis of Companies, Statistics, and Development Trends
Executive Summary
The clothing store industry in Vestvågøy has a complex history with both rising and falling trends. In 2025, there are 10 companies registered in the industry, with a total of 53 employees. Sales experienced a significant decline of 24.9% from 2024 to 2025, from NOK 70.0 million to NOK 52.6 million. This indicates a highly unstable economic environment, although some companies have shown strong growth at times, such as Zicco As with 7% revenue growth in 2024.
Economic Trends
| Year | Sales (NOK) | Employees |
|---|---|---|
| 2016 | 62.9M | 64 |
| 2025 | 52.6M | 53 |
Sales have shown highly unstable development, with a peak of 70.0M in 2024, but a sharp decline to 52.6M in 2025. The number of employees has varied between 51 and 65 over the years, with a decline of 10.2% from 2024 to 2025. This suggests that the industry is vulnerable to market fluctuations and possibly competitive pressure from other stores in the region.
Key Players in the Industry
The following companies are registered in the clothing store industry in Vestvågøy:
- Zicco As – 16 employees, 7% revenue growth in 2024
- Lindex As Avd Leknes – 12 employees, 1% revenue growth in 2024
- Lupin As – 12 employees, -2% revenue growth in 2024
- Cubus Leknes Avd 900 – 10 employees, 4% revenue growth in 2024
- Dressmann As Avd 178 Leknes – 6 employees, 6% revenue growth in 2024
- Ludv. Håkonsen Herre As – 6 employees, -6% revenue growth in 2024
- Elvestad Media – 0 employees, new company established in 2025
- Lofoten Brudesalong Sissel Skjerpen – 0 employees, established in 1996
- Mave Da – 0 employees, company with negative EBITDA
- Rinor Holding As – 0 employees, company with a high EBITDA margin of 69%
Most companies are organized as AS, with 6 companies in this form. Elvestad Media and Lofoten Brudesalong are unique in that they are organized as ENK, while Mave Da is a DA.
Geographic Distribution
All 10 companies in the clothing store industry are registered in Leknes, with 6 companies and 62 employees in the area. The only exception is Lofoten Brudesalong Sissel Skjerpen in Bøstad. Leknes has a high operational income of NOK 71.2M and a sales income of NOK 71.2M, with a high gross profit margin of 4560%.
This shows that Leknes is an important commercial hub for clothing stores in Vestvågøy, with a concentration of companies and employees in a small geographic area.
Business Dynamics and Competitiveness
None of the companies in the clothing store industry are registered as bankrupt, but there are variations in EBITDA margins. Ludv. Håkonsen Herre As has a negative EBITDA margin of -12%, while Rinor Holding As has an extremely high margin of 69%. This shows significant variations in operating results.
Mave Da has a negative EBITDA of -68.0K and total debt of NOK 667.0K, which may indicate economic challenges. On the other hand, Dressmann As Avd 178 Leknes has a high EBITDA margin of 16% and a revenue growth of 6% in 2024.
Development Trends for Entrepreneurs
For entrepreneurs in the clothing store industry in Vestvågøy, there are both opportunities and challenges. The industry has shown highly unstable development, with a sharp decline in sales of 24.9% from 2024 to 2025. This may be due to market fluctuations, competitive pressure, or changes in consumer behavior.
Nevertheless, there are opportunities in Leknes, where there is a concentration of companies and employees. Entrepreneurs should consider establishing themselves in this area, where there are established companies such as Zicco As and Dressmann As that can serve as models. SmartGrunder can help entrepreneurs find suitable locations in Vestvågøy for clothing stores.
Comparison with the Broader Industry
Creative, arts, and entertainment activities are a broader industry in Vestvågøy with 16 companies, compared to 10 companies in the clothing store industry. Sales in the broader industry had a decline of 15.9% from 2024 to 2025, while the clothing store industry had a stronger decline of 24.9%.
Key players in the broader industry include:
- Husfliden Lofoten As – knitwear store with NOK 7.1M in sales and NOK 687.0K in EBITDA
- Leknes Skotøymagasin As – shoe store with NOK 13.4M in sales and NOK 478.0K in EBITDA
- Gretes Håndarbeid As – knitwear store with NOK 7.9M in sales and NOK 24.0K in EBITDA
This shows that the broader industry has a more stable development than the clothing store industry, although there are also companies with negative EBITDA in the broader industry.
Other companies in kreative, kunst og underholdningsaktiviteter (not in clothing store)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Husfliden Lofoten As | knit store | Lekneskroken 9C, 8370 | NOK 7.1M | 11 | NOK 687.0K |
| Leknes Skotøymagasin As | footwear store | Storgata 8, 8370 Leknes | NOK 13.4M | 11 | NOK 478.0K |
| Gretes Håndarbeid As | knit store | Storgata 42, 8370 Leknes | NOK 7.9M | 9 | NOK 24.0K |
| Fagerheims Antikviteter Og Snurrepiperier | second-hand goods store | Leknesveien 635, 8370 | NOK 0 | 0 | NOK 0 |
| Hvilepuls Therese Egge Belgum | knit store | Knutstadveien 240, 8360 Bøstad | NOK 0 | 0 | NOK 0 |
| O Bolle As | footwear store | Storgata 19, 8370 Leknes | NOK 3.0M | 4 | NOK -432.0K |
Conclusion
The clothing store industry in Vestvågøy has both opportunities and challenges. With a concentration of companies in Leknes and established players such as Zicco As and Dressmann As, there is potential for growth. However, sales data show highly unstable development, with a sharp decline in 2025. Entrepreneurs should consider establishing themselves in Leknes, where there are established companies that can serve as models. SmartGrunder can help entrepreneurs find suitable locations in Vestvågøy for clothing stores.