What Hagkaup does

Hagkaup is one of Iceland's oldest continuously operating retail chains, founded in 1959 as a mail-order business and converted to a physical-store format in 1967 with its first Miklatorg location; the first supermarket opened at Skeifunni in 1970 and remains the most popular of its seven current sites. The company is a privately held limited entity owned by Hagar verslanir ehf. and led by CEO Sigurður Reynaldsson, with a workforce of approximately 723-750 employees serving the general Icelandic consumer across groceries, cosmetics and beauty, toys, clothing and footwear, specialty/household goods, party catering (Veisluréttir), gift cards, and a Build-A-Bear workshop located in the Smáralind store.

The core operating model combines a dense physical retail footprint (six stores in the greater Reykjavik capital area plus one in Akureyri) with an omnichannel layer: an e-commerce site at hagkaup.is offering same-day delivery in the capital region, pickup at Smáralind, and 24/7 self-service pickup lockers co-located at Bonus, Olís, and Hagkaup sites nationwide. Two flagship stores (Skeifan and Eiðistorg) operate 24 hours daily. Supporting technology includes CookieHub consent management, Google Analytics, Google Ads, Meta Pixel, Klaviyo email marketing automation, and Issuu for embedded digital publishing. The assortment spans premium cosmetics brands (MAC, Shiseido, Lancôme, Kiehl's, Clarins, Armani, Blue Lagoon Skin Science), toys (LEGO, Playmobil, Paw Patrol), and apparel (Speedo, Viking), organized into product pages for Snyrtivara, Leikföng, Fatnaður, Sérvara, Veisluréttir, and Build-A-Bear.

Revenue is generated primarily through one-time retail merchandise sales across physical and online channels, supplemented by gift cards (minimum 5,000 ISK traditional, 2,000 ISK certificates, four-year validity), a Viðskiptakort business charge card with monthly invoicing for SMB/corporate customers, and the Takk loyalty program which pays weekly cashback ("Takk kronur") on selected categories. Marketing is conducted through Instagram, Facebook, TikTok, email newsletters, blog content, and in-store events such as Krakkadagar (Children's Days) and the Haggahlaup running event. Distribution is single-country (Iceland), with no international operations.

Name

Hagkaup

Legal name

Hagkaup

Website

https://hagkaup.is

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

11–50 employees

Short description

Hagkaup is an Icelandic multi-category retail chain founded in 1959, operating seven stores nationwide plus an e-commerce site serving Icelandic consumers with groceries, cosmetics, toys, clothing, household goods, and party catering.

Ownership category

akta.pro rank

Product category

Multi-Category Retail

NAICS

General Merchandise Retailers (455), Hobby, Toy, and Game Retailers (45912)

SIC

Retail-Variety Stores (5331), Retail-Misc General Merchandise Stores (5399), Retail-Hobby, Toy & Game Shops (5945)

akta.pro primary industry

Traditional Variety Stores (General Variety & Five-and-Dime) (CRAEAGAA)

Keywords

• Multi-category retail
• Cosmetics beauty retail
• Toy store retail
• Grocery retail chain
• Party catering services

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Retail merchandise sales: Hagkaup generates revenue through physical and online retail sales of groceries, clothing, cosmetics/toiletries, toys, household goods, and hobby/party supplies. The company also offers a gift card program and operates a Build-A-Bear workshop experience.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Hagkaup operates seven physical multi-category retail stores across Iceland plus an integrated e-commerce storefront, selling groceries, cosmetics and beauty products, toys, clothing and footwear, household goods, and specialty/hobby items under one roof. It also operates the Build-A-Bear workshop at Smáralind, Veisluréttir party catering, a Takk loyalty rewards program, gift cards, and a business charge card (Viðskiptakort).

Product overview

Hagkaup is a multi-category retail chain with seven physical stores across Iceland (six in the greater Reykjavik area and one in Akureyri) and a comprehensive online store. The product portfolio is organized into distinct categories: Snyrtivara (cosmetics and beauty) featuring Shiseido, MAC, Kiehl's, Lancôme, and other premium brands; Leikföng (toys) including LEGO, Playmobil, Paw Patrol, and a Build-A-Bear workshop; Fatnaður (clothing and footwear) with Speedo swimwear and Viking outdoor apparel; Sérvara (specialty and lifestyle goods); and Veisluréttir (party catering). Supporting services include a proprietary e-commerce platform (Vefverslun), a Gjafakort (gift card) program in both digital and physical formats, a Viðskiptakort (business account card), and the Takk loyalty program. Hagkaup also operates branded food service counters including a salad bar and Skálin café.

Differentiator

Problem solved

Functional benefit

Products and services

• Snyrtivara (Cosmetics & Beauty) Multi-brand cosmetics and beauty product range including skincare, makeup, fragrance, hair care, nail products, and accessories from brands including Shiseido, MAC, Kiehl's, Lancôme, Clarins, Blue Lagoon, and Armani. Targeted at Icelandic consumers shopping for premium beauty products in-store and online.
• Leikföng (Toys) Toys and children's products category including outdoor toys, bikes, dolls, figures, building blocks, board games, puzzles, and licensed character merchandise from brands such as LEGO, Playmobil, Paw Patrol, Play-Doh, and Nerf. Targeted at families with children across Iceland.
• Fatnaður (Clothing & Footwear) Clothing and footwear category for women, children, and men, including Speedo swimwear, Viking outdoor clothing, and casual and formal footwear from brands such as Tamaris, Kangaroos, and Nokian Footwear. Targeted at Icelandic families and consumers.
• Sérvara (Specialty Items) Specialty items category including home and lifestyle products, entertainment and hobby goods, candles, card games, board games, darts, and sleeping accessories from brands such as Silver Cloud. Targeted at general Icelandic consumers.
• Veisluréttir (Party Catering) Party catering service offering ready-made party trays including open-faced sandwiches (smørrebrød), sushi platters, mixed party trays, sweet trays, and individually ordered trays for events. Available for pickup at Smáralind or home delivery within the capital area. Targeted at Icelandic hosts planning parties and events.
• Build-A-Bear Workshop Build-A-Bear workshop located inside Hagkaup Smáralind, offering a unique experience where customers can stuff, dress, and customize teddy bears and plush animals. Accessories, clothing, shoes, and mini Beans characters are also sold. Targeted at families with children in the capital area.
• Gjafakort (Gift Cards) Hagkaup gift card programme offering both digital e-gift cards stored in mobile wallets and traditional plastic gift cards with magnetic stripe. Cards are bearer cards with a minimum purchase of 5,000 ISK for new cards and 2,000 ISK minimum for gift certificates, with a maximum validity of 4 years and balance that cannot be exchanged for cash.
• Vefverslun (Online Store / E-commerce) Hagkaup's online retail platform at hagkaup.is offering home delivery, pickup at self-service lockers, delivery to other pickup points, and in-store pickup. Same-day delivery available for orders placed before 12:00 on weekdays within the capital area. Targeted at Icelandic consumers across the capital area and partner pickup locations.
• Viðskiptakort (Business Account Card) Business account and charge card for corporate customers purchasing from Hagkaup. Cards can be issued as bearer cards or registered to individual employees, with monthly invoicing and credit terms. Targeted at Icelandic businesses procuring retail goods.
• Takk Vildarkerfi (Loyalty Program) Hagkaup's loyalty programme called Takk (meaning 'thanks' in Icelandic), offering Takk kronur reward points back on selected products weekly, including cosmetics and children's products. Targeted at repeat Icelandic shoppers across the Hagkaup retail network.

Quantifiable outcome

• First supermarket chain in Iceland to power all refrigeration systems on Icelandic CO2
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Scale indicators3 records

Recent moves10 records

Expansion highlights6 records

Market position

Strengths4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/snyrtivara
• Facebookfacebook.com/hagkaup
• Instagraminstagram.com/hagkaup
• LinkedInlinkedin.com/company/hagkaup-hf-

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hagkaup