Industry · municipality
Analysis of the Chinese/Glassware Store Industry in Vågan
Companies, Statistics, and Outlook for Entrepreneurs and Local Decision-Makers in Vågan, Nordland, Norway
Brief Industry Overview
Top of the overview
The Chinese/glassware store industry in Vågan is a small but dynamic sector with two registered companies. The industry has been marked by variations in revenue and number of employees over time, with a decline in the number of employees from 14 in 2016 to 4 in 2023, followed by a weak increase to 5 in 2026. Revenue has also been unstable, with a decline from 9.3 million NOK in 2016 to 4.6 million NOK in 2023, followed by a partial recovery to 6.3 million NOK in 2025. One of the two companies (Norwegian Explorer Club As Avd Svolvær) has no activity, which highlights the industry's vulnerability. This makes a fundamental understanding of market dynamics and competition crucial for entrepreneurs.
Economic Trends and Variations
Economic Overview
The industry has been marked by variations in revenue and number of employees over time. Revenue has shown a decline from 9.3 million NOK in 2016 to 4.6 million NOK in 2023, followed by a partial recovery to 6.3 million NOK in 2025. This indicates a weak but not constant decline. The number of employees has also been unstable, with a decline from 14 in 2016 to 4 in 2023, followed by a weak increase to 5 in 2026. This may indicate an industry that has been affected by external factors such as economic fluctuations and competitive pressure, but which also shows some signs of adaptation.
Table: Revenue and Employees Over Time
| Year | Revenue (NOK) | Number of Employees |
|---|---|---|
| 2016 | 9.3M | 14 |
| 2017 | 8.3M | 12 |
| 2018 | 8.5M | 11 |
| 2019 | 9.7M | 9 |
| 2020 | 7.0M | 10 |
| 2021 | 7.1M | 9 |
| 2022 | 5.9M | 6 |
| 2023 | 4.6M | 4 |
| 2024 | 5.9M | 4 |
| 2025 | 6.3M | 4 |
| 2026 | - | 5 |
Causes of variations: The large declines in revenue and number of employees in 2020-2022 can be linked to the pandemic and the global economic downturn. The weak recovery in 2024-2025 indicates that the industry has been able to adapt, but with limited capacity.
Companies and Legal Forms
Companies in the Industry
There are two companies registered in the Chinese/glassware store industry in Vågan:
- Kitch'n Svolvær (Lofotgata 33, Svolvær)
- Legal Form: AS
- Founded: 2013-04-11
- Number of Employees: 4
- Revenue: 8.6 million NOK
- EBITDA: 684,600 NOK
- EBITDA Margin: 7%
- Norwegian Explorer Club As Avd Svolvær (Torget 2, Svolvær)
- Legal Form: AS
- Founded: 2019-04-20
- Number of Employees: 0
- Revenue: 0 NOK
- EBITDA: 0 NOK
Legal Form: All companies in the industry are registered as AS (limited liability company), which is typical for small and medium-sized companies in Norway. There are no companies registered as sole proprietorships or other legal forms.
Conclusion: The industry is dominated by small companies with limited capacity to develop. Kitch'n Svolvær is the only active company, while Norwegian Explorer Club As Avd Svolvær has no operations.
Geographic Distribution of Activity
Business Geography
All companies in the Chinese/glassware store industry in Vågan are located in Svolvær, which is the municipality's main town. There is no activity in other city districts or city district systems in the municipality.
Svolvær Activity: There is one company (Kitch'n Svolvær) with 4 employees and a revenue of 8.6 million NOK. This company's activity is concentrated in the central area (Lofotgata 33), which indicates that the store is part of the local retail area.
Conclusion: The industry is strongly concentrated in Svolvær, which can be both an advantage (access to customers) and a disadvantage (greater competitive pressure from other stores in the center).
Operational Results and Bankruptcy Statistics
Business Dynamics and Bankruptcy Statistics
The industry has been marked by some bankruptcies and declining operational results. There are no bankruptcy registrations for companies in the industry, but one of the two companies (Norwegian Explorer Club As Avd Svolvær) has no operations, which may indicate a declining or terminated business.
Bankruptcy Statistics: There are no bankruptcy cases registered for companies in the Chinese/glassware store industry in Vågan in recent years. This may indicate that the industry has been able to avoid bankruptcy, even though operational results have been declining.
Operational Results: Kitch'n Svolvær has an EBITDA of 684,600 NOK and an EBITDA margin of 7%, which indicates a relatively stable operation. Norwegian Explorer Club As Avd Svolvær has no operations, which may indicate a declining or terminated business.
Conclusion: The industry has been able to avoid bankruptcy, but with weak operational results. This can be a challenge for entrepreneurs who want to establish themselves in the industry.
Outlook for Entrepreneurs
For entrepreneurs considering establishing themselves in the Chinese/glassware store industry in Vågan, it is important to consider the following factors:
- Market Size: The industry is small, with only two companies. This can provide opportunities to fill a missing niche, but also challenges with competitive pressure from existing companies.
- Operational Results: Kitch'n Svolvær has a relatively stable operation with an EBITDA margin of 7%, which indicates that it is possible to run a profitable business. Norwegian Explorer Club As Avd Svolvær has no operations, which may indicate a declining or terminated business.
- Competitive Pressure: The industry is concentrated in Svolvær, which can be both an advantage and a disadvantage. It can be an advantage to be close to customers, but it can also create competitive pressure from other stores in the center.
Recommendation: Entrepreneurs should consider establishing themselves in Svolvær, where there is the most activity, and focus on creating unique value for customers. It can also be an advantage to collaborate with local companies to strengthen market position.
Outlook for the Conference Center Industry
The conference center industry in Vågan is a larger and more stable sector compared to the Chinese/glassware store industry. There are 17 companies in the conference center industry, compared to only 2 companies in the Chinese/glassware store industry. This shows that the conference center industry has a larger market size and more stable operations.
Operational Results: Revenue for the conference center industry has been more stable, with a decline from 149.6 million NOK in 2016 to 82.9 million NOK in 2023, followed by a recovery to 91.7 million NOK in 2025. The number of employees has also been more stable, with a decline from 104 in 2016 to 93 in 2026.
Peer Companies: Current peer companies in the conference center industry include:
| Name | Address | Revenue (NOK) | Number of Employees | EBITDA (NOK) |
|---|---|---|---|---|
| Europris Svolvær 419 | Avisgata 11, 8300 Svolvær | 27.1M | 14 | 2.9M |
| Fargehandelen Lofoten As | Vorsetøyveien 14, 8300 Svolvær | 13.7M | 7 | 1.2M |
| Lofotenshop | Torget 15, 8300 Svolvær | 4.5M | 3 | 569.6K |
Conclusion: The conference center industry has a larger market size and more stable operations compared to the Chinese/glassware store industry. This can be an advantage for entrepreneurs who want to establish themselves in a more stable sector.
Other companies in konferansesenter (not in china/glassware store)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Europris Svolvær 419 | mixed home goods store | Avisgata 11, 8300 Svolvær | NOK 27.1M | 14 | NOK 2.9M |
| Fargehandelen Lofoten As | building supplies store | Vorsetøyveien 14, 8300 Svolvær | NOK 13.7M | 7 | NOK 1.2M |
| Lofotenshop | mixed home goods store | Torget 15, 8300 Svolvær | NOK 4.5M | 3 | NOK 569.6K |
| Mors Hus As | non-electrical household articles store | Dreyers gate 73, 8312 Henningsvær | NOK 4.0M | 8 | NOK 407.0K |
| E.a. Smith As Avd Byggern Trebygg | building supplies store | Verftsgata 24, 8300 Svolvær | NOK 0 | 7 | NOK 0 |
| Gunvald Johansen Handel As Avd Svolvær | building supplies store | Osan|Industriveien 5, 8300 Svolvær | NOK 0 | 17 | NOK 0 |
| Merete Karlsen Beauty Advisor | mixed home goods store | Ringveien 11, 8310 Kabelvåg | NOK 0 | 0 | NOK 0 |
| Merete Karlsen Beauty Advisor | mixed home goods store | Ringveien 11, 8310 Kabelvåg | NOK 0 | 0 | NOK 0 |
| Møbelringen Lofoten As | furniture store | Holmen|Vorsetøyveien 10, 8300 Svolvær | NOK 0 | 7 | NOK 0 |
| Svolvær Hagesenter As | garden supplies store | Vorsetøyveien 14, 8300 Svolvær | NOK 0 | 15 | NOK 0 |
| Svolvær Jernvarehandel As | building supplies store | Lofotgata 40, 8300 Svolvær | NOK 0 | 0 | NOK 0 |
| Svolvær Jernvarehandel As Konkursbo | building supplies store | Lofotgata 40, 8300 Svolvær | NOK 0 | 0 | NOK 0 |
| Thorgersen Bygg As | building supplies store | Doktorbakken 2, 8310 Kabelvåg | NOK 0 | 1 | NOK 0 |
| Trolltindan Holding As | building supplies store | Knutvikveien 59, 8300 Svolvær | NOK 0 | 0 | NOK 0 |
| Gerds Blomster As | garden supplies store | Håkon Kyllingmarks gate 4, 8300 Svolvær | NOK 5.8M | 14 | NOK -7.0K |
Conclusion and Recommendation
Conclusion
The Chinese/glassware store industry in Vågan is a small but dynamic sector with two companies. The industry has been marked by variations in revenue and number of employees over time, with a decline in the number of employees from 14 in 2016 to 4 in 2023, followed by a weak increase to 5 in 2026. Revenue has also been unstable, with a decline from 9.3 million NOK in 2016 to 4.6 million NOK in 2023, followed by a partial recovery to 6.3 million NOK in 2025. One of the two companies has no activity, which highlights the industry's vulnerability. This makes a fundamental understanding of market dynamics and competition crucial for entrepreneurs.
Recommendation: Entrepreneurs should consider establishing themselves in Svolvær, where there is the most activity, and focus on creating unique value for customers. It can also be an advantage to collaborate with local companies to strengthen market position. SmartGrunder can help entrepreneurs find suitable addresses and develop a strategy to establish themselves in the industry.