Industry · municipality
Knit Store in Oslo: Industry Analysis and Outlook
A detailed overview of the industry, companies, and development in Oslo
Executive Summary
Industry Profile and Key Trends
The knit store industry in Oslo consists of 16 registered companies with a total of 219 employees in 2024. The industry shows a mix of stable and highly variable companies, with an average annual revenue of approximately 18.4 million NOK per company. The most prominent companies include Fru Kvist AS, Garntopia AS, and Ubr Scandinavia AS, which have higher revenues and wage margins compared to smaller companies such as Nøstet Mitt AS and Garnpikene Manglerud AS, which report zero revenue.
Economic Development Characteristics
The industry has experienced strong growth from 2016 to 2024, with a total sales growth of 139%, followed by a dramatic decline of 41.9% in 2025. Employee numbers have been more stable, with a net increase of 6.3% over the same period. The highest wage margin (14%) and best EBITDA margin (13%) are recorded by Ubr Scandinavia AS, while companies such as Pickles AS have negative EBITDA (–6%) and negative revenue growth (–16%).
Economic Overview
Sales and Employee Development
| Year | Sales (NOK) | Annual Growth | Employees | Annual Growth |
|---|---|---|---|---|
| 2016 | 123.3M | - | 205 | - |
| 2024 | 294.5M | +18.4% | 219 | +5.3% |
| 2025 | 171.0M | -41.9% | 209 | -4.6% |
Economic Indicators
- Average sales per company: 18.4M NOK (2024)
- Average EBITDA margin: 8% (2024)
- Average wage cost: 3.1M NOK per company (2024)
- Highest sales growth: 18.4% (2023→2024)
- Lowest sales growth: –41.9% (2024→2025)
Companies in the Industry
Key Companies in the Industry
| Company | Address | Employees | Sales (2024) | EBITDA (2024) | Organizational Form |
|---|---|---|---|---|---|
| Ubr Scandinavia AS | Birgitte Hammers vei 3F | 16 | 119.4M | 16.7M | AS |
| Fru Kvist AS | Tollbugata 27 | 20 | 19.8M | 578K | AS |
| Garntopia AS | Karoline Kristiansens vei 4 | 17 | 26.8M | 1.8M | AS |
| Kid Interiør AS | Stenersgata 1 | 12 | 19.5M | 2.9M | AS |
| Instinct Øst AS | Lambertseter kjøpesenter | 12 | 8.7M | 47K | AS |
Organizational Form Statistics
- AS: 29 companies (220 employees, 286.1M sales)
- ENK: 1 company (7 employees, 0 sales)
- ANS: 1 company (5 employees, 0 sales)
Business Geography
Geographic Distribution
All 16 companies in the industry are registered in Oslo, with a focus on the following areas:
- Tollbugata (Fru Kvist AS, Symaskinhuset AS)
- Stenersgata (Kid Interiør AS, Nye Strikkedilla AS)
- Vitaminveien (Nøstet Mitt AS, Euro Sko Storo AS)
- Lilleakerveien (Ariadne Garn, For Men AS)
Key Shopping Centers
- Tveita Senter
- Storo Senter
- Lambertseter Senter
- Oslo City
Industry Concentration
The industry is heavily concentrated in Oslo, with 31 companies and 232 employees in the municipality. No activity is registered outside Oslo.
Business Dynamics
Operational Dynamics and Bankruptcies
- Bankruptcies: No formal bankruptcies registered in the industry (all companies are marked as 'not bankrupt')
- Different operational statuses: 3 companies (Nøstet Mitt AS, Garnpikene Manglerud AS, Fæbrik AS) have zero revenue and zero operating result
- Operating result: 1 company (Pickles AS) has negative EBITDA (–279K) and negative revenue (–16% growth)
- Stable companies: 10 companies have positive EBITDA and growth above 0%
- Lowest wage cost: 1.2M NOK (Instinct Øst AS)
- Highest wage cost: 14.1M NOK (Ubr Scandinavia AS)
Outlook
Outlook for Entrepreneurs
The industry shows both opportunities and challenges:
- Opportunities:
- Stable market with 127 companies in creative, art, and entertainment activities in Oslo
- High purchasing power in Oslo (NOK 924.9M sales in 2023)
- Strong growth in 2023 (18.4% sales growth)
- Challenges:
- Dramatic decline in 2025 (–41.9% sales growth)
- Low bankruptcy security (no formal bankruptcies, but 3 companies with zero revenue)
- Competitive companies in the industry (16 companies with a total of 219 employees)
- Recommendation:
- Focus on innovation and differentiation
- Develop online sales channels
- Collaborate with well-known companies in the industry (e.g., Ubr Scandinavia AS)
Outlook for Broader Industry
Comparison with Broader Industry
| Indicator | Knit Store | Creative, Art, and Entertainment Activities |
|---|---|---|
| Companies | 127 | 1,922 |
| Sales (2023) | 248.8M | 9,249.6M |
| Employees (2023) | 208 | 6,397 |
| EBITDA (2023) | 25.1M | 83.3M |
| Sales Growth (2023→2024) | +18.4% | –2.2% |
Peer Companies in Broader Industry
| Company | Address | Sales (2024) | EBITDA (2024) | Employees |
|---|---|---|---|---|
| Inditex Norge AS | Øvre Slottsgate 12 | 415.9M | 83.3M | 138 |
| Villoid AS | Karenslyst allé 16 | 518.1M | 49.0M | 111 |
| H&M Hennes & Mauritz AS | Karl Johans gate 14 | 181.3M | 8.2M | 101 |
| Ellos Norway AS | Bryggegata 6 | 640.7M | 11.6M | 0 |
| Redress AS | Eilert Sundts gate 41 | 249.3M | 39.3M | 31 |
Conclusion
The creative, art, and entertainment activities industry in Oslo has a much higher volume and growth potential compared to the knit store industry. Entrepreneurs should consider developing companies that can compete with the most successful peer companies in this broader industry.
Other companies in kreative, kunst og underholdningsaktiviteter (not in knit store)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Inditex Norge As Avd Øvre Slottsgate | clothing store | Øvre Slottsgate 12, 0157 Oslo | NOK 415.9M | 138 | NOK 83.3M |
| Villoid As | clothing store | Karenslyst allé 16, 0278 Oslo | NOK 518.1M | 111 | NOK 49.0M |
| Inditex Norge As Avd Bogstadveien | clothing store | Bogstadveien 12, 0355 Oslo | NOK 218.4M | 74 | NOK 43.8M |
| Redress As | clothing store | Eilert Sundts gate 41, 0355 Oslo | NOK 249.3M | 31 | NOK 39.3M |
| Sillysanta As | clothing store | Lilletorget 1, 0184 Oslo | NOK 153.1M | 11 | NOK 23.2M |
| Messel & Wildhagens Antikvariat As | second-hand goods store | Skovveien 39A, 0258 Oslo | NOK 12.5M | 0 | NOK 12.8M |
| Ellos Norway As | clothing store | c/o CSC (Norway) AS|Bryggegata 6, 0250 Oslo | NOK 640.7M | 0 | NOK 11.6M |
| H & M Hennes & Mauritz As Avd 885 Karl Johans Gate | clothing store | Karl Johans gate 14, 0154 Oslo | NOK 181.3M | 101 | NOK 8.2M |
| Ferner Jacobsen Aktieselskap Avd Oslo | clothing store | Stortingsgata 14, 0161 Oslo | NOK 122.9M | 46 | NOK 8.1M |
| H & M Hennes & Mauritz As Avd 722 Oslo City | clothing store | Stenersgata 1, 0050 Oslo | NOK 176.6M | 106 | NOK 8.0M |
| Woolland As | clothing store | Lilleakerveien 2E, 0283 Oslo | NOK 86.9M | 81 | NOK 7.6M |
| Oslobunaden As | national clothing store | Pilestredet 8, 0180 Oslo | NOK 35.7M | 11 | NOK 6.7M |
| Grændsens Skotøimagazin As | footwear store | Grensen 12, 0159 Oslo | NOK 65.2M | 44 | NOK 6.7M |
| Lager 157 As Avd Oslo Storgata | clothing store | Storgata 20, 0184 Oslo | NOK 94.2M | 55 | NOK 6.1M |
| Departments & Stores Norway As | clothing store | Nedre Slottsgate 8, 0157 Oslo | NOK 154.9M | 112 | NOK 6.0M |
| Nlm Miljø As | second-hand goods store | Sinsenveien 25, 0572 Oslo | NOK 27.0M | 50 | NOK 5.6M |
| Kappahl As Avd 342 Oslo City | clothing store | Stenersgaten 1, 0050 Oslo | NOK 45.3M | 41 | NOK 5.2M |
| B.young Sentralbanestasjonen | clothing store | Jernbanetorget 1, 0154 Oslo | NOK 71.2M | 15 | NOK 5.1M |
| For Men As Avd Oslo | clothing store | Lilleakerveien 16, 0283 Oslo | NOK 59.6M | 37 | NOK 5.1M |
| Fretex International As | second-hand goods store | Ole Deviks vei 50, 0668 Oslo | NOK 134.9M | 0 | NOK 5.0M |
| Hunkemöller Norway As Avd Tollbugata | clothing store | c/o TMF Norway AS|Tollbugata 27, 0157 Oslo | NOK 20.8M | 12 | NOK 4.7M |
| Euro Sko Storo As Avd Eurosko | footwear store | Vitaminveien 7, 0485 Oslo | NOK 46.0M | 27 | NOK 4.2M |
| Cubus Oslo City Avd 804 | clothing store | Stenersgata 1, 0050 Oslo | NOK 43.1M | 31 | NOK 4.0M |
| Follestad Trend As Avd Follestad Karl Johan | clothing store | Akersgata 35, 0158 Oslo | NOK 54.6M | 33 | NOK 3.8M |
| Mango Norge As Avd Storo Storsenter | clothing store | Vitaminveien 7, 0485 Oslo | NOK 51.1M | 17 | NOK 3.8M |
| For Men Holding As | clothing store | Lilleakerveien 25, 0283 Oslo | NOK 12.6M | 5 | NOK 3.7M |
| Dna Arkaden | footwear store | Karl Johans gate 7, 0154 Oslo | NOK 35.2M | 16 | NOK 3.6M |
| Frøken Dianas Salonger As | clothing store | Markveien 56, 0550 Oslo | NOK 43.1M | 18 | NOK 3.5M |
| Lille Grensen Sko As | footwear store | Lille Grensen 3, 0159 Oslo | NOK 17.1M | 11 | NOK 3.5M |
| Helmo Invest As | clothing store | Risalléen 25, 0374 Oslo | NOK 4.0M | 1 | NOK 3.5M |
| H & M Hennes & Mauritz As Avd 718 Storo | clothing store | Vitaminveien 7, 0485 Oslo | NOK 76.4M | 43 | NOK 3.5M |
| H & M Hennes & Mauritz As Avd 860 H&m Gården | clothing store | Bogstadveien 11, 0355 Oslo | NOK 76.4M | 62 | NOK 3.5M |
| Match Storo Avd 254 | clothing store | Vitaminveien 7, 0485 Oslo | NOK 15.4M | 16 | NOK 3.4M |
| Olivias Verden Storo As | clothing store | Vitaminveien 7-9, 0485 Oslo | NOK 17.3M | 14 | NOK 3.4M |
| Cubus Thon Senter Storo Avd 803 | clothing store | Vitaminveien 7-9, 0485 Oslo | NOK 35.5M | 16 | NOK 3.3M |
| Follestad Trend As Avd Bogstadveien | clothing store | Bogstadveien 10, 0355 Oslo | NOK 44.7M | 24 | NOK 3.1M |
| Aspeli As | clothing store | Grundingen 4, 0250 Oslo | NOK 33.4M | 9 | NOK 3.1M |
| Cubus Bryn Oslo Avd 811 | clothing store | Østensjøveien 79, 0667 Oslo | NOK 33.0M | 16 | NOK 3.1M |
| Companys Byporten As | clothing store | Biskop Gunnerus' gate 6, 0155 Oslo | NOK 24.4M | 12 | NOK 3.1M |
| Follestad Trend As Avd Web Shop | clothing store | Akersgata 28, 0158 Oslo | NOK 43.3M | 36 | NOK 3.0M |
Conclusion
Conclusion and Recommendation
The knit store industry in Oslo shows a mix of stable and unstable companies, with a total sales growth of 139% from 2016 to 2024. However, the industry has experienced a dramatic decline of 41.9% in 2025, which may indicate challenges in the market. Entrepreneurs should consider focusing on innovation, digitalization, and collaboration with existing companies in the industry to ensure competitiveness. SmartGrunder can help entrepreneurs find optimal addresses and locations in Oslo to start a new company in this industry.