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

The jewellery/watches/clocks/gold/silver store industry in Lillehammer shows a mix of stability and growth. With 7 registered companies and 42 employees in 2025, the industry is relatively small but has significant economic indicators. Annual revenue has increased by 27.6% from 2024 to 2025, and the EBITDA margin stands at 14%. At the same time, data show that the industry has been marked by variations in employee numbers and income over time, with a decline of 15% from 2016 to 2017 before stabilization and growth in recent years.

Economic Trends

The industry has experienced significant growth in annual revenue, from 29.2 million NOK in 2016 to 77.1 million NOK in 2025. This corresponds to an average annual growth of 10.5%. The number of employees has varied between 25 and 40 over time, with a decline of 15% from 2016 to 2017 before stabilization and growth in recent years. EBITDA has remained at a level of approximately 14 million NOK since 2016, with a margin of 14% in 2025.

Registered Companies

The following companies are registered in the industry in Lillehammer:

1. J. Frisenberg As – Storgata 74, 16 employees, AS-organization form, operates with an annual revenue of 58.8 million NOK and EBITDA of 10.8 million NOK.

1. Glitter Lillehammer Strandtorget – Strandpromenaden 85, 8 employees, AS-organization form, operates with an annual revenue of 3.7 million NOK and EBITDA of 196,900 NOK.
2. Gullfunn Strandtorget – Strandpromenaden 85, 7 employees, AS-organization form, operates with an annual revenue of 26.4 million NOK and EBITDA of 2.0 million NOK.
3. Andrea Kalvatn – Galterudringen 10, 0 employees, ENK-organization form, has no revenue or EBITDA.
4. Fridom Holding As – Storgata 74, 0 employees, AS-organization form, has a negative EBITDA of -46,000 NOK.
5. Storødegård – Tåjegutua 6, Fåberg, 0 employees, ENK-organization form, has no revenue or EBITDA.

The AS organization form is dominant, with 4 companies, while the ENK organization form is less represented.

All activities in the industry are concentrated in Lillehammer. There are 4 registered companies and 42 employees in the municipality. No activity is registered in other districts or municipalities. The only registered location is Lillehammer, with 4 companies and 42 employees.

The industry has been marked by variations in operating results over time. While most companies have been in operation without bankruptcies, Fridom Holding As shows a negative EBITDA of -46,000 NOK. This may indicate economic challenges for certain companies. On the other hand, companies such as J. Frisenberg As and Gullfunn Strandtorget have shown strong operating results with high EBITDA margins. There are no registered bankruptcies in the industry in the municipality.

Outlook for Founders

Data show that the industry has grown significantly in recent years, with an annual revenue of 77.1 million NOK in 2025 and an EBITDA margin of 14%. This indicates a stable and growing market opportunity for companies in the industry. Founders should, however, be aware of the variation in company performance, with some companies having a negative EBITDA. It may be beneficial to focus on establishing in Lillehammer, where there is a concentration of activities, and to study the models of successful companies such as J. Frisenberg As and Gullfunn Strandtorget. SmartGrunder can help founders find suitable locations and analyze operational data to identify potential areas for improvement.

The jewellery/watches/clocks/gold/silver store industry in Lillehammer shows a mix of stability and growth. With an annual revenue of 77.1 million NOK in 2025 and 42 employees, the industry is relatively small but has significant economic indicators. Founders should consider the opportunities in a growing market, while taking into account the variation in company performance. SmartGrunder can help identify potential areas for improvement and locations within the municipality.