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

Other Observations

• Number of companies: There are a total of 12 companies registered in this industry in Porsgrunn, but only 5 of these have activity with employees and revenue.
• Business structures: Most companies are AS (5 companies), while some are ENK (6 companies). ENK companies often have lower revenue and no employees.
• New companies: Two companies (Ellefsen Luxurystore and Glitter Porsgrunn Down Town) were established in 2024 and 2025, but have no revenue or employees yet.
• Large financial variation: Companies show significant variation in financial results, from Gullsmed Pettersen & Snoek As with high growth (34%) and high EBITDA margin (16%) to Grenland Stein & Sølv As with negative EBITDA (-2%).

• Porsgrunn: All 12 companies in the industry are registered in Porsgrunn, with a focus on central addresses such as Kulltangvegen 70, Storgata 70, and Storgata 211.
• Concentration: The most active companies (Down Town Klokker Og Smykker As, Gullsmed Pettersen & Snoek As, and Ø Saastad Ur Optikk As) are located in the center of Porsgrunn, indicating a concentration of customer traffic in the city center.
• New addresses: Glitter Porsgrunn Down Town and Ellefsen Luxurystore have addresses in Porsgrunn, but have no activity yet.

• Sales: Sales in the industry decreased by 27.3% from 2019 to 2020, but have since grown by 10.9% from 2023 to 2024 and 4.9% from 2024 to 2025. Total sales in 2025 were NOK 18.3 million.
• Employees: The number of employees has varied between 17 and 21 over the past six years, with a slight increase from 2024 to 2026.
• EBITDA and margins: Industry EBITDA in 2025 was NOK 2.2 million with a margin of 11%. The most profitable companies had EBITDA margins of 16% (Gullsmed Pettersen & Snoek As) and 11% (Down Town Klokker Og Smykker As).

• Bankruptcies: None of the 12 companies in the industry have gone bankrupt, indicating relative stability in the industry.
• Fluctuation in results: Some companies have shown significant variations in results, such as Grenland Stein & Sølv As with negative EBITDA (-NOK 72,000) and Gullfunn Down Town with zero revenue.
• New companies: Two companies established in 2024 and 2025 still have no revenue or employees, which may indicate some uncertainty in the industry.

• Stable market: The industry has proven to be relatively stable, with no bankruptcies and sales growth after 2023.
• Located in the center: There is a clear concentration of companies in the center of Porsgrunn, which can be an advantage for new companies wanting to attract customer traffic.
• Opportunities for specialization: The most profitable companies have specialized in high margins (16%) and have grown sales by up to 34%. This indicates opportunities for specialization in niche sectors such as gold, jewelry, or watches.
• Outside the center: Addresses outside the center are possible, but it may be challenging to attract customers to these locations.

SmartGrunder can help founders find suitable addresses in Porsgrunn for this industry, based on market data and economic conditions.

The jewellery/watches/clocks/gold/silver store industry in Porsgrunn has proven to be relatively stable with no bankruptcies and sales growth after 2023. There are 12 companies registered, but only 5 of these have activity with employees and revenue. The most profitable companies have high EBITDA margins and sales growth of up to 34%. There are opportunities for new companies wanting to specialize in niche sectors and locate in the center of Porsgrunn. SmartGrunder can help founders find suitable addresses and assess market conditions in the municipality.

• Number of companies: 12 companies, but only 5 are active.
• Sales: NOK 18.3 million in 2025, with growth after 2023.
• Employees: 19 employees in 2025, with a slight increase.
• EBITDA: NOK 2.2 million in 2025 with an 11% margin.
• Bankruptcies: No bankruptcies in the industry.
• Located in the center: The most active companies are located in the center of Porsgrunn.
• Opportunities: New companies can find opportunities in niche sectors and in the center of the municipality.