Recently, international financial services firm Morgan Stanley, in collaboration with Swiss consultancy LuxeConsult, released their annual report on the Swiss watch industry. In 2023, Swiss watch brand Rolex’s sales soared to 10.1 billion Swiss francs, securing its leading position.
Last year, Rolex produced 1.34 million wristwatches. Beyond its impressive sales figures, the brand further solidified its leadership with over 30% of the retail market share. Cartier, Omega, Audemars Piguet, and Patek Philippe ranked second, third, fourth, and fifth respectively, yet each held a significantly smaller market share compared to Rolex.
Thanks to the success of MoonSwatch, Swatch’s sales surged to double that of 2021, catapulting it back into the top fifteen. The MoonSwatch effect also positively impacted Omega, whose sales in 2023 grew by 5%.
Rolex and its sister brand Tudor collectively account for about a third of the Swiss watch industry’s retail market share, a figure comparable to the combined share of major conglomerates like Richemont, Swatch Group, and LVMH’s brands.
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