Thune
Thune is a privately held Norwegian jewelry and watch retailer founded in 1857, headquartered in Oslo, selling gold, silver, diamond, pearl jewelry and luxury watches through its own-brand and authorized dealer ranges across multiple Norwegian stores and thune.no.
- Company typePrivate
- Founded1857
- HeadquartersOslo, Norway
- Headcount—
- GTM typeB2C
- OfferingServices
What Thune does
Thune (legal name: Gullsmed I Thune Gullsmed og Urmaker) is a privately held Norwegian jewelry and watch retailer founded in 1857 and headquartered in Oslo at Stortingsgaten 6. The company operates a multi-store physical retail network across Norway paired with a direct-to-consumer e-commerce site (thune.no) and serves Norwegian consumers seeking premium jewelry and watches for personal use, gifting, and life-event occasions including engagements, weddings, confirmations, baptisms, and graduations.
The product offering combines proprietary in-house brands with curated third-party partnerships. Proprietary jewelry lines include Gold by Thune (182+ SKUs in 585/14k gold), Silver by Thune, Elegance by Thune, Eternity by Thune, Princess Cut by Thune, Tennis by Thune, Moments by Thune, Joy by Thune, Diamonds by Thune, Identity by Thune, Kids by Thune, Pearls by Thune, Rose by Thune, Simplicity by Thune, Romance by Thune, Stellar by Thune, True Love by Thune, and others. Third-party authorized dealer partnerships include premium watch brands Breitling, Omega, Glashütte Original, Chopard, TAG Heuer, Zenith, Tissot, Rado, Longines, Bell & Ross, Certina, Girard-Perregaux, NOMOS Glashütte, Raymond Weil, and Swiss KubiK, plus Danish jewelry brand Julie Sandlau. The company maintains an in-house goldsmith workshop that handles custom design, repairs, ring sizing, engraving, and watch maintenance, and offers a Brand Ambassador collaboration program.
Thune's revenue model is diversified across one-time retail sales (gold jewelry ranging from ~2,000 NOK to over 80,000 NOK; silver items from ~400-500 NOK; luxury watches by brand/model), a gold and silver buyback trade-in stream (14k gold at 569 NOK/g purchase / 589 NOK/g exchange, silver at 9-11 NOK/g), professional appraisal/taxation services (1,550 NOK for the first item down to 990 NOK per item for 10+ items), watch service and repair, and a loyalty program (Thune Loyalty). Pricing is unit-based and pay-as-you-go, with free shipping over 700 NOK and free returns supporting the online channel. Core technology and AI/ML capabilities are not disclosed; the e-commerce storefront runs on Shopware via Flow Retail.
Thune firmographics
Firmographics- Name
- Thune
- Legal name
- Gullsmed I Thune Gullsmed og Urmaker
- Website
- https://thune.no
- Company type
- Private
- Founded year
- 1857
- Operating status
- Operating
- Short description
- Thune is a privately held Norwegian jewelry and watch retailer founded in 1857, headquartered in Oslo, selling gold, silver, diamond, pearl jewelry and luxury watches through its own-brand and authorized dealer ranges across multiple Norwegian stores and thune.no.
- Ownership category
- akta.pro rank
Thune industry classification
Industry- Product category
- Jewelry and Watch Retail
- NAICS
- Jewelry Retailers (458310), Jewelry and Silverware Manufacturing (33991)
- SIC
- Retail-Jewelry Stores (5944), Jewelry, Precious Metal (3911)
- akta.pro primary industry
- Precious Metal Jewelry (Gold/Platinum/Silver) (CRAKAAAD)
- akta.pro secondary industries
- High Jewelry & Haute Joaillerie (CRAKAAAE), Pre-owned Fine Jewelry Dealers (CRAKAKAC)
Keywords
Where Thune is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices1 record
Markets served
Thune business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Jewelry and Watch Retail: Sale of jewelry products including rings, earrings, necklaces, bracelets in gold, silver, and other precious metals, as well as watches from luxury brands. Products range from affordable items to high-end luxury pieces.
- Gold and Silver Buyback: Thune purchases gold and silver from customers, testing and valuing items based on current precious metal prices. They offer payment to customer accounts or exchange for new products in store.
- Appraisal/Taxation Services: Professional jewelry appraisal services for insurance, sales, inheritance, and loss/damage documentation. Pricing: 1,550 NOK for first item, 1,250 NOK per additional item, 990 NOK per item for more than 10 items.
- Watch Service and Repair: Watch maintenance and repair services through their workshop. They offer free cleaning and inspection for diamonds, and various repair services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Gold jewelry items ranging from entry-level to luxury |
| Unit Pricing | Pay-as-you-go | Silver jewelry items |
| Unit Pricing | Pay-as-you-go | Luxury watch brands |
| Transaction based/ take rate | Pay-as-you-go | Gold buyback service |
| Unit Pricing | Pay-as-you-go | Jewelry appraisal services |
| Unit Pricing | Pay-as-you-go | Gold testing/acid test service |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Thune product offering
Product offeringCore offering
Thune sells jewelry (rings, earrings, necklaces, bracelets) and luxury watches to Norwegian consumers through physical stores and its e-commerce site thune.no. The catalog combines Thune's own-brand collections (Gold by Thune, Silver by Thune, Elegance, Eternity, Joy, Diamonds, Princess Cut, Tennis, Moments, etc.) with authorized-dealer offerings from brands such as Breitling, Omega, Glashütte Original, Chopard, TAG Heuer, Bell & Ross, Zenith, Longines, Tissot, Rado, and Julie Sandlau. The company also provides gold and silver buyback, professional jewelry appraisal, custom jewelry design, and watch repair and maintenance through its in-house workshop.
Product overview
Thune is a Norwegian jewelry and watch retailer founded in 1857, operating as both an e-commerce platform and physical store chain. The company offers a comprehensive portfolio combining proprietary in-house brands (Gold by Thune, Silver by Thune, and collections like Elegance by Thune, Joy by Thune, Eternity by Thune, Princess Cut by Thune, Tennis by Thune, Moments by Thune, and Diamonds by Thune) alongside curated third-party luxury brands (Julie Sandlau, Chopard, Breitling, Glashütte Original, Omega, TAG Heuer, Zenith, Tissot, Bell & Ross, among others). Product categories span gold and silver jewelry with diamonds, pearls, and colored gemstones; engagement and wedding collections; and luxury watches for men and women. Thune also provides value-added services including in-house goldsmith workshop and production, custom jewelry design, gold buying, professional valuation/taxation services, ring sizing tools, engraving, and a loyalty program. The company positions itself as a destination for significant life moments and generational heirlooms.
Differentiator
Problem solved
Functional benefit
Brands
- Gold by Thune: Gold jewelry collection featuring gold in various colors (yellow, white, two-tone) with pieces including pendants, chains, bracelets, rings, and earrings in 585/14 karat gold.
- Silver by Thune
- Elegance by Thune
- Moments by Thune
- Eternity by Thune
- Princess Cut by Thune
- Tennis by Thune
- Joy by Thune
- Diamonds by Thune
- Links by Thune
- Identity by Thune
- Kids by Thune
- Pearls by Thune
- Precious by Thune
- Romance by Thune
- Rose by Thune
- Simplicity by Thune
- Stellar by Thune
- True Love by Thune
- Thune Loyalty
Products and services
- Gold by Thune jewelry collection Thune's proprietary gold jewelry line in 585/14k gold with rings, necklaces, bracelets, and earrings in yellow and white gold, designed as timeless pieces and generational heirlooms for Norwegian customers.
- Silver by Thune jewelry collection Thune's proprietary silver jewelry collection offering contemporary and classic designs including rhodium-plated and gold-plated silver rings, earrings, bracelets, and chains.
- Elegance by Thune collection Thune's long-running, best-selling own-brand jewelry series featuring classic single-stone designs intended as keepsakes from significant life moments.
- Eternity by Thune collection Own-brand eternity ring collection symbolizing eternal love, featuring diamond-accented eternity rings representing enduring commitment.
- Princess Cut by Thune collection Own-brand jewelry line featuring princess-cut diamonds recognized for their square shape and brilliant sparkle.
- Tennis by Thune collection Own-brand jewelry line of tennis-style pieces with continuous lines of diamonds or gemstones in a symmetrical pattern.
- Joy by Thune collection Own-brand colored gemstone jewelry line designed for playful mix-and-match combinations.
- Diamonds by Thune collection Own-brand diamond jewelry collection crafted for significant life moments using natural diamonds.
- Julie Sandlau jewelry Third-party Danish jewelry brand carried by Thune, featuring sparkling gemstones and timeless pearls in seasonal and permanent collections.
- Breitling Chronomat watch collection Iconic Breitling Chronomat watch collection featuring refined design and updated details, available at Thune as an authorized dealer.
- Chopard watches and jewelry Swiss luxury watch and jewelry brand offered through authorized dealer relationship at Thune, with the Alpine Eagle collection featured in the flagship store.
- Omega watches Swiss luxury watch brand known for precision timekeeping and iconic Seamaster and Speedmaster collections, offered at Thune through authorized dealer partnership.
- Glashütte Original watches German luxury watch brand representing modern German watchmaking with traditional craftsmanship and state-of-the-art technology, offered through authorized dealer partnership at the Thune Stortingsgaten flagship store.
- TAG Heuer watches Swiss luxury watch brand known for sporty and elegant chronographs, offered as part of Thune's authorized-dealer watch portfolio.
- Zenith watches Swiss luxury watch brand producing high-precision chronographs since 1865 with all parts self-produced, offered through authorized dealer partnership.
- Bell & Ross watches French watch brand specializing in professional timepieces designed for extreme environments, offered through authorized dealer partnership.
- Gold and silver buyback service Thune purchases gold and silver items from customers, testing and valuing pieces based on current precious-metal prices; settlement can be a bank payment, gift card, or store exchange. Pricing: gold 14k 569 NOK/g (purchase), 589 NOK/g (exchange); silver 830/925 9 NOK/g (purchase), 11 NOK/g (exchange).
- Jewelry valuation/appraisal service Professional jewelry appraisal service for insurance, sales, inheritance, and loss/damage documentation with tiered unit pricing and approximately 3-week processing time.
- Goldsmith workshop, watch service and repair In-house goldsmith workshop and watchmaker service supporting custom jewelry design, ring sizing and resizing, engraving, jewelry repairs, free cleaning and inspection on diamond pieces, and watch maintenance and repair.
- Engagement and wedding jewelry collection Complete bridal jewelry collection covering engagement rings, wedding bands, morning gifts, and bridal jewelry for engagement and wedding occasions.
- Thune Loyalty program Customer loyalty program offering rewards and exclusive benefits to repeat customers purchasing jewelry and watches from Thune.
Quantifiable outcome
- Free ring size adjustment within 3 months of purchase for standard sizes
- +2 more outcomes
Companies that use Thune
Customer profileSegments2 records
Ideal customer profiles2 records
Thune technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Thune partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- BreitlingcoreAuthorized dealer for Breitling watches. Featured brand with dedicated product showcase and Chronomat collection featuring.
- Glashütte OriginalcoreAuthorized dealer with flagship store Thune Stortingsgaten designated as authorized dealer location. Features the brand prominently with dedicated product showcase.
- OmegacoreAuthorized dealer for Omega watches featured in their watch brand portfolio.
- ChopardcoreAuthorized dealer for Chopard watches and jewelry. Alpine Eagle collection featured with exclusive in-store experience at flagship.
- TAG HeuercoreAuthorized dealer for TAG Heuer watches in their portfolio of luxury watch brands.
- Julie SandlaucoreCarries Julie Sandlau jewelry collection. Launched as a new brand announcement featuring fall/winter collection with gemstones and pearls.
- Bell & RossminorAuthorized dealer for Bell & Ross watches.
- ZenithminorAuthorized dealer for Zenith watches. Brand featured as 'Master of Chronographs' since 1865.
- LonginesminorAuthorized dealer for Longines watches.
- TissotminorAuthorized dealer for Tissot watches.
- RadominorAuthorized dealer for Rado watches.
- Helene SpillingminorBrand ambassador who collaborated with Thune to create a unique custom-designed jewelry piece, developed from initial idea to finished product in their own goldsmith workshop.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Thune competitors and assessment
Company assessmentRegional players
- Mila Silver: Nordic silver jewelry retailer with strong presence across Norway, Sweden, and Denmark. Comparable as a precious-metal jewelry chain serving similar demographics with silver-focused and gold-overlay assortments.
- Neset Jewellery: Norwegian jewelry retailer operating physical stores and e-commerce, offering gold, silver, and diamond jewelry with similar milestone-occasion positioning. Closely comparable assortment and target customer to Thune in the Norwegian market.
- Goldheart: Swedish gold and silver jewelry chain with physical stores across Sweden and Nordic e-commerce. Comparable assortment (gold chains, rings, earrings, bracelets) and price-point positioning to Thune's Silver by Thune and Gold by Thune collections.
- Kosta Boda (Orrefors Kosta Boda): Swedish heritage glass and jewelry brand with retail presence across the Nordics. Comparable as a Scandinavian heritage lifestyle brand with jewelry adjacent to Thune's silver and gift assortment, though broader product scope.
Emerging players
- Pandora (Nordics): Global jewelry brand with significant Nordic retail footprint, including branded stores and authorized retailers across Norway. Comparable in core product category (branded jewelry with gold/silver content) and target consumer (gift and self-purchase occasions), though Pandora is primarily a brand-and-DTC model rather than a multi-brand retailer.
Broad incumbents
- Swarovski: Global crystal and jewelry retailer with branded stores across Norway and Europe. Comparable as a jewelry and gift retailer targeting similar occasion-based purchases, though focused on crystal rather than fine jewelry.
- Watches of Switzerland Group: Multi-brand luxury watch specialist with authorized dealerships for Breitling, Omega, TAG Heuer, and others - directly overlapping Thune's watch brand portfolio. Comparable as a multi-brand luxury watch retailer, though operating at much larger scale in the UK and US.
- Tiffany & Co. (Nordics): Global luxury jeweler with selective presence in Nordic markets. Comparable as a destination for engagement, wedding, and luxury jewelry purchases, competing for the same high-end Norwegian milestone-driven customer.
Direct peers
- David-Andersen: Historic Norwegian jewelry and silverware brand founded in 1877, operating retail stores and an e-commerce platform. Closely comparable heritage profile to Thune with overlapping assortment (gold, silver, diamonds, watches) and Norwegian market focus.
- Gullsmed Bjørklund: Largest jewelry chain in Norway, operating physical stores across the country plus e-commerce. Directly comparable to Thune as a multi-store Norwegian jewelry retailer with in-house brands, gold buying, and watch brand authorizations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Thune social profiles
Digital presenceThune financial estimates
Financial estimateRevenue estimate
Valuation estimate
Thune leadership team
Management profileNumber of profiles
Thune funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Thune M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Thune
What does Thune do?
Thune sells jewelry (rings, earrings, necklaces, bracelets) and luxury watches to Norwegian consumers through physical stores and its e-commerce site thune.no. The catalog combines Thune's own-brand collections (Gold by Thune, Silver by Thune, Elegance, Eternity, Joy, Diamonds, Princess Cut, Tennis, Moments, etc.) with authorized-dealer offerings from brands such as Breitling, Omega, Glashütte Original, Chopard, TAG Heuer, Bell & Ross, Zenith, Longines, Tissot, Rado, and Julie Sandlau. The company also provides gold and silver buyback, professional jewelry appraisal, custom jewelry design, and watch repair and maintenance through its in-house workshop.
Is Thune a public or private company?
Thune is a private company. It is classified as family owned and is currently operating.
When was Thune founded?
Thune was founded in 1857.
Where is Thune based?
Thune is headquartered in Oslo, Norway, in the Europe region.
How does Thune make money?
Four revenue lines are on record. Jewelry and Watch Retail is the primary driver. The others are gold and Silver Buyback, appraisal/Taxation Services and watch Service and Repair.
Who are Thune's main competitors?
Regional players on record are Mila Silver, Neset Jewellery, Goldheart and Kosta Boda (Orrefors Kosta Boda). Pandora (Nordics) is listed as an emerging player. Broad incumbents are Swarovski, Watches of Switzerland Group and Tiffany & Co. (Nordics). Direct peers are David-Andersen and Gullsmed Bjørklund.
Does Thune have an API?
No public API is recorded for Thune.
What industry is Thune in?
Thune's product category is Jewelry and Watch Retail. Its primary akta.pro industry code is CRAKAAAD, Precious Metal Jewelry (Gold/Platinum/Silver), with a secondary code of CRAKAAAE, High Jewelry & Haute Joaillerie. Its NAICS code is 458310 and its SIC code is 5944.