Jewellery/Watches/Clocks/Gold/Silver Store Industry in Bærum: A Comprehensive Analysis

Jewellery/watches/clocks/gold/silver store in Bærum is an industry with both stability and variation. In 2025, there are 33 companies registered in the municipality, with a total sales volume of NOK 85.1 million. In recent years, the industry has been marked by fluctuations, with a significant decline in 2025 compared to 2024. Sandvika is the most active area, with 9 companies and 87 employees. The industry includes established players such as Thune Gullsmed & Urmaker AS and new companies such as Maanesten AS, which was founded in 2023. Different websites in the municipality have varying economic performance, with both positive and negative results.

The industry has been marked by fluctuations in both sales and number of employees. From 2016 to 2025, sales figures have fluctuated between NOK 85.1 million and NOK 179.1 million, with a significant decline of 37.8% from 2024 to 2025. The number of employees has also been unstable, with a decline from 139 to 135 employees in the same period. The most significant decline in sales has been in 2025, which may indicate challenges in the market or changes in consumer behavior.

In Bærum, there are 33 companies within the industry, with the dominant organizational form being AS (14 companies). The key companies include:

• Thune Gullsmed & Urmaker AS (Sandvika): 12 employees, NOK 24.9 million in sales, NOK 2.2 million in EBITDA.
• Gullfunn Administrasjon Avd Lysaker (Lysaker): 19 employees, but no sales or operating income.
• Østerås Klokker Og Smykker AS (Østerås): 9 employees, NOK 3.5 million in sales, but with negative operating profit.
• Rykkinn Klokker Og Smykker AS (Rykkinn): 8 employees, NOK 3.6 million in sales, but with negative EBITDA of NOK -598,000.

There are also new companies such as Maanesten AS (Sandvika) and Dandin Treasure Investments (Rykkinn), which have no employees or sales in 2025.

The industry is most concentrated in Sandvika, with 9 companies and 87 employees. Other active locations include:

• Lysaker: 1 company, 19 employees, but no operating income.
• Østerås: 1 company, 9 employees, NOK 3.5 million in sales, but with negative operating profit.
• Rykkinn: 1 company, 8 employees, NOK 3.6 million in sales, but with negative EBITDA.
• Bekkestua, Fornebu and Høvik: Have companies with 0 employees and no sales.

Sandvika has the highest operating income (NOK 153.2 million) and highest EBITDA margin (7%). Østerås and Rykkinn have companies with lower margins and negative results.

The industry has been marked by variation in economic performance. Most companies are not in bankruptcy, but some have negative results. For example:

• Østerås Klokker Og Smykker AS has negative operating profit of NOK -81,000.
• Rykkinn Klokker Og Smykker AS has negative EBITDA of NOK -598,000.
• Gullgruven AS (Bekkestua) has no sales or employees.

This shows that the industry has both stable and unstable actors, and that there may be challenges for companies in certain locations.

For entrepreneurs in Bærum, the industry can offer both opportunities and challenges. The most stable part of the industry is in Sandvika, with high sales volume and relatively high EBITDA margin. There are also opportunities to establish oneself in other locations, but it is important to be aware of the negative results shown in some companies. Entrepreneurs should consider focusing on locations with higher sales and better economic performance, as well as developing differentiated offerings to compete in a market with variation.

The broader category non-profit organization in Bærum has 34 companies, showing that the jewellery/watches/clocks/gold/silver store industry is part of a larger network. Compared to the broader category, the jewellery/watches/clocks/gold/silver store industry has lower sales (NOK 85.1 million in 2025) than the broader category (NOK 85.1 million in 2025). There is also a similarity in the decline in the number of employees from 2024 to 2025. One of the key peer companies in the broader category is Memento Mori Ødegård (coin/stamp shop), which has NOK 0 in sales and 0 employees. This shows that the broader category includes both companies with high and low activity.

The jewellery/watches/clocks/gold/silver store industry in Bærum has both stable and unstable actors, with variation in economic performance. Sandvika is the most active area, with high sales and relatively high EBITDA margin. Entrepreneurs should consider focusing on locations with higher sales and better economic performance, as well as developing differentiated offerings to compete in a market with variation. SmartGrunder can help entrepreneurs find suitable locations in Bærum for this industry.