Bik Bok-gründerens klesselskap tapte millioner

Urban Pioneers AS, the company founded by Bik Bok entrepreneur Ola Mæle, reported a loss of 14.2 million kroner in 2025. Mæle told E24 that running a clothing store is very costly, but they will make it work. He owns half of the shares in the company through his holding company, Sjølyst Utvikling AS. Urban Pioneers was established in 2016 and sells clothing from various brands through its own online store and physical stores.

Co-founder William Follestad is also a shareholder and sits on the board. The loss comes after the company reported a profit of 2.2 million kroner the previous year. They are now establishing themselves in Sweden, Denmark, and the Benelux region, and it is going very well. Mæle says it takes a lot of capital to establish a clothing brand in foreign markets.

Revenue increased from 74.7 million kroner in 2024 to 80.7 million kroner in 2025, but the net profit still ended in negative 8.2 million kroner. The loss was due to a write-down of receivables to a subsidiary amounting to 17 million kroner. The company's equity fell to a negative 4.4 million kroner at year-end, with 13.7 million kroner in injected equity.

Net equity ended in a negative amount after accounting for the loss. Total equity ended in the red. Mæle says they have injected another 18 million kroner into the company. He admits it is harder to start a standalone clothing brand now than when he founded Bik Bok over 45 years ago. He attributes the difference to the fact that now there are more established brands like H&M, whereas when he started, there were more independent retailers.

The company has also increased its debt to over 76 million kroner. Leadership has initiated cost cuts, including renegotiating supplier agreements. Mæle expresses strong confidence in the project and believes they are starting a new successful brand that will grow significantly. He believes this project could be as successful as Poco Loco, Match, and VIC.