class = “sc-cffd1e67-0 iQNQmc”>
This is the biggest victory: last year, Rolex made sales of more than 10 billion francs for the first time, specifically 10.1 billion francs. This is shown by the latest market data from Morgan Stanley and “Luxeconsult”, which “Handelszeitung” has access to. No Swiss watch brand has ever crossed this threshold before.
This article was first published on the paid service of handelszeitung.ch. Blick+ users have exclusive access as part of their subscription. You can find more exciting articles at www.handelszeitung.ch.
This article was first published on the paid service of handelszeitung.ch. Blick+ users have exclusive access as part of their subscription. You can find more exciting articles at www.handelszeitung.ch.
What Rolex can do, even Louis Vuitton cannot do.
With an increase in sales of nearly 9 percent, Rolex increases its market share to over 30 percent. No luxury brand can do this, neither in the watch segment nor anywhere else. For example, Louis Vuitton, the dominant supplier of luxury handbags, has a market share of only 19 percent.
Compared to 2019, Rolex managed to almost double its sales last year. From 5.2 billion francs then to 10.1 billion francs now.
Vacheron Constantin with sales of over 1 billion francs
But a lot also happened among the “subjects” of the crown in the top 15. Cartier, for example, broke the 3 billion franc sales barrier for the first time and is currently recording 3.1 billion francs for itself. Like Cartier, which is part of Richemont, Vacheron Constantin is now a member of the famous billionaires’ club. The brand achieved revenue of 1.1 billion francs in 2022, after 825 million francs.
Swatch: What a renaissance!
The performance of the two Swatch Group brands is also astonishing: Swatch increased its sales from 400 million francs to 660 million francs, thanks to the excitement surrounding Moonswatch. Tissot also benefits from its best-selling model, the PRX. Sales increased from 750 to 825 million francs.
Breitling is losing momentum
But there are also shadows in the top 15, which are basically quite bright. For example, it seems like the weather is a bit out of whack at Breitling, in any case the Partners Group brand is unable to maintain the momentum of the last few years. Longines, on the other hand, continued its contraction in recent years in 2023. Swatch Group’s second largest brand has lost over half a billion francs in sales since 2019. The backward movement includes well-known names such as IWC, Hublot and TAG Heuer. Jaeger-LeCoultre, on the other hand, is experiencing stagnation as in previous years.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
