Footwear Store in Vågan – Companies, Statistics, and Outlooks

Footwear store in Vågan is a small but active sector with two registered companies. In recent years, sales have shown a weakly positive trend, with an increase of 1.7% from 2024 to 2025. Employees have been more volatile, with a decline of 21.4% from 2024 to 2025. The companies operate primarily in Svolvær, and the organizational form is AS for both. Outlooks for the sector are mixed, with potential for growth in a tourism-dominated municipality like Vågan, but also challenges related to margins and competition.

Sales for footwear store in Vågan have varied between NOK 11.2M and NOK 13.3M in recent years. There is a weakly positive trend from 2020 to 2023, with an increase of 2.9% in 2023. Employees have been more unstable, with a decline of 27.8% from 2019 to 2020 and an increase of 14.3% from 2020 to 2021. In 2025, there are 11 employees, a decline of 21.4% from 2024. EBITDA margins have been mixed, with a positive margin of 2% for Euro Sko Svolvær As, but a negative margin of -1% for Sko & Garn As.

Two companies are registered in the footwear store sector in Vågan:

1. Euro Sko Svolvær As (Lofotgata 33, Svolvær) – AS, established 1990-07-01, 5 employees, EBITDA NOK 208.0K, operating profit NOK -127.0K
2. Sko & Garn As (Vestfjordgata 14, Svolvær) – AS, established 1991-01-10, 5 employees, EBITDA NOK -76.0K, operating profit NOK -82.0K

The organizational form is AS for both companies. There are no registered bankruptcies in the sector, but one of the companies has a negative EBITDA.

All companies in the footwear store sector in Vågan are located in Svolvær:

Svolvær is the only location with activity in this sector in the municipality.

There are no registered bankruptcies in the footwear store sector in Vågan. Nevertheless, the figures show that one of the two companies (Sko & Garn As) has a negative EBITDA of -1%, which may indicate economic challenges. There are no companies with zero employees in the sector, but there is a weakly negative trend in the number of employees from 2024 to 2025.

Outlooks for footwear store in Vågan are mixed. Sales have shown a weakly positive trend in recent years, but the number of employees has been more unstable. With a tourism-dominated municipality like Vågan, there may be potential for growth, especially if companies focus on quality and unique offerings. However, EBITDA margins show that there are challenges with cost control and competition. Starting companies should consider establishing themselves in Svolvær, where there are already established companies in the sector.

In the broader creative, arts, and entertainment activities sector in Vågan, there are 21 companies, compared to 2 in footwear store. Sales for the broader sector have shown stronger growth, with an increase of 9.8% from 2023 to 2024. Employees have been more stable, with a decline of 4.9% from 2024 to 2025. Peer companies in the broader sector include clothing stores such as Cubus Svolvær Avd 805 (NOK 12.7M in sales, 9 employees) and Match Svolvær Avd 284 (NOK 8.8M in sales, 8 employees). Footwear store has a lower EBITDA margin compared to these peer companies, which may indicate differing competitiveness.

Footwear store in Vågan is a small but active sector with potential for growth in a tourism-dominated municipality. However, the figures show that there are challenges with margins and the number of employees. Starting companies should consider establishing themselves in Svolvær, where there are already established companies in the sector. SmartGrunder can help entrepreneurs find suitable locations and assess business opportunities in the municipality.