Haven’t made up my mind if this bike from Finnish Helkama is ugly or nice. But it looks functional and the swedish promotion site is really nice: http://www.studentcykel.nu/ (Keep in mind that “FRAM?T” means forward and “BAK?T” means backward in swedish.)
Update (16/08/21): This post was part of a week-long “Next Century Modern Blog” stint, by guest blogger Jesper Larsson. The photo is no longer available.