Panorama is acquiring the Gullegget and Juvelen jewellery chains to enhance its market presence and product offerings in Norway's growing jewellery sector.
Target Information
Panorama, the largest supplier of jewellery products in Norway, is set to acquire the Gullegget and Juvelen jewellery chains. In 2005, funds managed by Norvestor Equity AS purchased a 75% stake in Panorama, positioning it for significant growth. With a turnover of NOK 230 million and a workforce of 115 employees, the acquisition of Gullegget and Juvelen is projected to enhance Panorama's annual revenue by approximately NOK 50 million.
Industry Overview in Norway
The jewellery retail sector in Norway has experienced consistent growth, fueled by increasing consumer demand for both traditional and fashion-oriented jewellery. The market is characterized by a mix of established chains and independent boutiques, allowing consumers ample choice. Factors such as rising disposable income and a growing appreciation for luxury items contribute to the sector's robust performance.
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Location is crucial within this industry, as jewellery retailers thrive in areas with high foot traffic and affluent customers. This trend is reflected in the strategic positioning of
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Panorama
invested in
Gullegget and Juvelen
in 2006
in a Buy & Build / Roll-Up deal
Disclosed details
Revenue: $50M