Cosmetics Retail in Oslo: Industry Analysis and Development Trends

Cosmetics retail in Oslo is an important part of the city's service sector. In 2025, there are 304 registered companies in this industry, with a combined revenue of over 2.1 billion Norwegian kroner. Employment has grown from 606 in 2016 to 765 in 2026, despite variations over the years. Key figures show a strong decline in 2019, but a significant increase from 2020 onward. The industry includes both successful companies with high EBITDA margins and some challenges, as illustrated by the bankruptcy statistics.

Revenue and Employees:

• Revenue: 2025: NOK 2,095.3M (increase of +2.3% from 2024)
• Employees: 765 in 2026 (decrease of -1.4% from 2025)

Annual Development:

• Revenue: Largest drop in 2019 (-39.7%), but strong recovery from 2020 (+49.9%) and onward.
• Employees: Largest increase in 2022 (+24.0%), but decline in 2023 and 2024.

Margins:

• Gross margin: 344% (highest in 2023)
• EBITDA margin: 4% (average over the years, with variations)

Bankruptcy Statistics: 2 companies in bankruptcy in 2025, but most companies in the industry have positive EBITDA.

Key Companies in the Industry

Company Structures:

• AS: 58 companies (734 employees)
• NUF: 3 companies (33 employees)

Important Companies:

1. Lyko As (Stortorvet 3): 86 employees, EBITDA NOK 31.7M, revenue NOK 1,097.2M
2. Fredrik & Louisa As (Nedre Slottsgate 8): 67 employees, EBITDA NOK 6.3M, revenue NOK 146.2M
3. Kicks Norge As (Stortorvet 9): 45 employees, EBITDA NOK 12.4M, revenue NOK 243.3M

Bankruptcy: Two companies in bankruptcy (Backzter As and Cover Brands As) with negative EBITDA, but most companies have positive operating profit.

Location in Oslo:

• Stortorvet, Nedre Slottsgate, and Stenersgata are main areas for cosmetics retailers.
• Number of companies: 61 in Oslo (total in the municipality)
• Employees: 767 in Oslo (2025)

Key Figures per Area:

• Gross margin: 344% (highest in Oslo)
• EBITDA margin: 4% (average)
• Operating margin: 2% (stable over the years)

Bankruptcy: Two companies in bankruptcy, but most companies in Oslo have positive EBITDA and high revenue.

Bankruptcy and Operating Profit:

• Bankruptcy: 2 companies in bankruptcy in 2025 (Backzter As and Cover Brands As), but most companies have positive EBITDA.
• EBITDA: Average 4% (highest for Rituals Cosmetics Norway As and Lyko As)
• Operating Profit: Highest for Lyko As (NOK 27.7M) and Kicks Norge As (NOK 9.2M)

Development: The industry has grown from 2020 onward, despite challenges in 2019. Most companies have stable revenue and positive operating profit.

Development for Entrepreneurs

Trend Analysis:

• Strong Growth: Revenue has grown by +32.1% from 2023 to 2024 and +2.3% from 2024 to 2025.
• Stable Margins: EBITDA margins have been stable at around 4% over the years.
• Bankruptcy Risk: Two companies in bankruptcy, but most companies have positive EBITDA and high revenue.

Recommendation: Entrepreneurs should focus on areas with high foot traffic (e.g., Stortorvet and Nedre Slottsgate) and ensure high EBITDA margins. It is also important to be aware of bankruptcy risk, even though most companies in the industry have positive operating profit.

Parent Category: 'Human health, care activities' has 305 companies in Oslo, with revenue of NOK 2,129.5M in 2025. This is slightly higher than the cosmetics retail revenue (NOK 2,095.3M). Employment is also slightly higher (774 in 2026 vs. 765 in cosmetics retail).

Peer Companies:

• Rituals Cosmetics Norway As: EBITDA NOK 3.3M, revenue NOK 26.5M, 24 employees
• Ruhs As: EBITDA NOK 2.5M, revenue NOK 34.5M, 9 employees
• Tåsen Vårt Parfymeri As: EBITDA NOK 628.0K, revenue NOK 5.5M, 2 employees

Conclusion: Cosmetics retail is part of a larger, growing industry. Entrepreneurs should consider leveraging this growth, but be mindful of bankruptcy risk and EBITDA margins.

Cosmetics retail in Oslo is a stable and growing industry with high revenue and positive EBITDA for most companies. There are opportunities for entrepreneurs, especially in areas with high foot traffic. It is also important to be aware of bankruptcy risk and ensure high EBITDA margins. SmartGrunder can help entrepreneurs find suitable addresses in Oslo for this industry.