Jewellery/Watches/Clocks/Gold/Silver Store Industry in Asker

The jewellery/watches/clocks/gold/silver store industry in Asker is a mix of established and newer companies with variable economic performance. There are 16 registered companies in the municipality, but 21 companies in the area, indicating that some companies do not report data. The industry has shown stable to growing sales figures in recent years, increasing from NOK 22.4 million in 2016 to NOK 34.5 million in 2025. Employment figures have also grown, from 41 in 2016 to 55 in 2026. Established companies such as Gullsmed Frank Hellman As Avd Asker and Gullsmykket Holmensenteret As dominate the market, while some newer companies such as Smykkefeber As and Studio Skagen have not yet reported activity.

Sales and employee development

The industry has shown a sales increase of +4.6% from 2024 to 2025, with an average annual growth of approximately 5% over the last five years. Employee development has been more variable, with a decline of -19.5% from 2016 to 2017, but an increase of +10% from 2025 to 2026. This indicates that the industry has been affected by economic fluctuations, but has stabilized with growth in employee numbers in recent years.

There are 16 companies registered in the industry in Asker, with the following organizational forms:

• AS (Limited company): 14 companies
• ENK (Sole proprietorship): 2 companies

Key companies included:

• Gullsmed Frank Hellman As Avd Asker (Strøket 5, Asker): 11 employees, sales of NOK 20.8M in 2025
• Rortunet Ur Og Smykker As (Odalsveien 64, Slemmestad): 8 employees, sales of NOK 1.4M in 2025
• Gullsmykket Holmensenteret As (Vogellund 6, Nesbru): 7 employees, sales of NOK 6.0M in 2025

Notable companies:

• Gullfunn Trekanten Senter and Leo Chevon As have not yet reported sales or operating results in 2025.

Distribution of activity in the municipality

The industry is distributed across the following locations in Asker:

Asker is the most active area with 5 companies and higher sales and operating results compared to other areas. Røyken has no activity in the industry, while Slemmestad and Nesbru have a mix of positive and negative operating results.

Operational dynamics and bankruptcy statistics

No companies in the industry have filed for bankruptcy in the municipality. However, some companies show negative operating results:

• Rortunet Ur Og Smykker As (Slemmestad): EBITDA margin of -8% in 2025
• Asker Urforretning As: EBITDA margin of -5% in 2025
• Gullfunn Trekanten Senter and Leo Chevon As have no reported operating results

This indicates that some companies face challenges with cost control or sales, but the industry as a whole has shown positive development in sales and number of employees.

The industry shows growth potential, especially with a sales increase of +4.6% from 2024 to 2025 and an increase in employees of +10% from 2025 to 2026. Asker has a solid foundation with established companies that can serve as models for new businesses. However, entrepreneurs should be aware of the negative operating results at some companies, which may indicate challenges with cost control or market share. There are also opportunities to establish businesses in areas with lower bankruptcy risk, such as Asker and Nesbru.

The jewellery/watches/clocks/gold/silver store industry in Asker shows stable to growing development with established companies and increasing sales. There are opportunities for entrepreneurs who want to establish themselves in a market segment with positive operating results, but it is important to carefully analyse competitors and cost structure. SmartGrunder can help entrepreneurs find suitable locations and develop strategies to compete effectively in this industry.