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

Economic Overview

Indre Østfold has a weakly variable economic development in the jewellery industry. Sales data show a decline of 33.8% from 2017 to 2018, but a gradual increase since 2020, with a rise of 12.8% from 2024 to 2025. Total sales in 2025 amount to NOK 7.7 million. Employment figures have been more stable, with a decline from 22 employees in 2016 to 12 employees in 2025, followed by an expected increase to 15 employees in 2026. The only company with positive figures is Gullsmed Anton Huseby AS in Mysen, which reports an operating profit of NOK 1.4 million and an EBITDA margin of 18%.

Key figures at a glance:

Companies in the Industry

In Indre Østfold, there are 10 companies in the jewellery industry. Most are organised as ENK (sole proprietorships), with 8 ENK companies and 2 AS companies. The most interesting companies are:

• Gullsmed Anton Huseby AS (Mysen): Largest operating profit (NOK 1.4M) and highest EBITDA margin (18%)
• Gullfunn Askimtorget (Askim): Oldest company (founded in 1997), but with zero sales and zero employees
• Christoffersen E Handel (Askim): Two ENK companies founded in 2024, but no operating profit

Organisational form statistics:

Geographic Distribution

The industry is distributed across two centres in Indre Østfold:

1. Askim (6 companies, 10 employees):

• Includes Gullfunn Askimtorget and Christoffersen E Handel
• No companies report positive operating profits
• Lowest EBITDA margin (0%)

1. Mysen (4 companies, 7 employees):

• Only company with positive figures: Gullsmed Anton Huseby AS
• Highest EBITDA margin (18%) and highest sales (NOK 7.8M)
• Some companies (such as Gullgruva AS) have negative operating profits

Geographic comparison:

Operational Dynamics and Bankruptcy Statistics

The industry has been marked by variations in operating profits:

• Gullsmed Anton Huseby AS has been the only company with positive figures for several years
• Gullgruva AS has negative operating profits (NOK -11,000 in 2025), but is still in operation
• Christoffersen E Handel and Noir Style Myhre have no operating profits, but are not bankrupt

Bankruptcy statistics:

• No companies in the industry have gone bankrupt between 2016 and 2025
• Gullfunn Askimtorget has zero sales and zero employees, but is still registered
• Nazari Golden House and Urmakermester Helge Talberg have no operating profits, but are not bankrupt

Outlook for Founders

The industry shows signs of gradual growth, with a 12.8% increase in sales from 2024 to 2025. This may indicate increased interest in the jewellery industry in Indre Østfold. For founders, the following may be of interest:

• Mysen appears to be the most profitable area, with Gullsmed Anton Huseby AS as a successful example
• Askim has potential for development, although it currently lacks operating profits
• ENK form is most common, which can be advantageous for small founders
• Bankruptcy risk is low, but it is important to ensure stable income from the start

Recommendation: Creating a unique value proposition (e.g., handcrafted jewellery or specialised watchmaking) can provide competitiveness in an industry with a limited number of players

Conclusion

The jewellery industry in Indre Østfold has a weakly variable history, but shows signs of gradual improvement. Mysen appears to be the most profitable area, while Askim has potential for development. For founders, it may be profitable to focus on unique value propositions, especially in Mysen. SmartGrunder can help find suitable locations and analyse market opportunities in the municipality.

Summary

Indre Østfold has 10 companies in the jewellery industry, with total sales of NOK 7.7 million in 2025. The only company with positive figures is Gullsmed Anton Huseby AS in Mysen, which reports an operating profit of NOK 1.4 million. The industry has been marked by variations in operating profits, but shows signs of gradual growth. For founders, it may be profitable to focus on unique value propositions, especially in Mysen.