Panorama AS has acquired Gullåren, a leading jewellery chain in Norway, to enhance its retail footprint and achieve operational synergies.

Target Information

Panorama AS is a prominent supplier of jewellery products in Norway, offering an extensive range of jewellery, silverware, and gift items. It serves as a primary supplier to most of the country's jewellery stores. In addition to its wholesale operations, Panorama owns two retail chains, Gull-Funn and Juvelen, which collectively operate 53 stores across Norway. In 2006, Panorama recorded revenues of NOK 330 million and employed 205 staff.

Gullåren, another major player in the Norwegian jewellery market, boasts a total of 42 retail outlets and has emerged as one of the leading jewellery chains in the country. Positioned in prime shopping areas, Gullåren has experienced significant growth through the expansion of its store network and the acquisition of additional stores. The chain is managed by Ivar T. Holth AS, a wholesale supplier established in 1943, which primarily supports Gullåren's merchandise needs.

Industry Overview

The jewellery industry in Norway has witnessed a notable transformation over the last decade. Increasing disposable incomes, evolving fashion trends, and a growing interest in luxury goods have fuel