On April 2 in Geneva, the Watches fair
A study that is still eagerly awaited but often decried by the luxury watch sector, which cultivates discretion and absolute secrecy. However, the analysis of these figures, which in the past remained the preserve of the Zurich bank Vontobel, is now a reference in the eyes of many investors.
In practice, and with the help of export statistics from the Swiss Watch Federation, public information from listed companies and interviews with industry players, the survey provides information on the market shares of each manufacturer by scrutinizing with a magnifying glass the turnover, the number of pieces exported or even the average price per watch.
Regarding exports of Swiss Made watches, these again broke records in 2022 with a total of 23.7 billion Swiss francs, i.e. an unprecedented growth of 11.6% compared to the year 2021 and 15.5% compared to the years marked by the pandemic.
Within the very closed club of billionaires, the first four places do not move. Unsurprisingly, Rolex holds the upper hand and consolidates its supremacy as the largest luxury watch brand in the world with an estimated 21% increase in value of its turnover. According to the report, for the brand with the crown, "the next threshold will be the magic turnover of 10 billion Swiss francs, which will put the brand at the level of luxury überbrands such as Gucci".
Cartier, Omega and Audemars Piguet follow. The latter, which celebrated the 50th anniversary of its emblematic Royal Oak in 2022, achieved growth of 72% by crossing the threshold of 2 billion Swiss francs for the first time in its history. Note the misstep of the house of the Swatch Group Tissot. It lost 12% of its sales and left the Top 10 manufacturers whose turnover exceeded one billion Swiss francs. This, in part, because of its reliance on the weak Chinese market. For the same reason, Longines also lost two places in the ranking. Finally, Breitling and Vacheron Constantin are the newcomers. The former is enjoying uninterrupted growth of 25% while the latter - the third Richemont brand to be in the Top Ten after IWC and Cartier - has been able to ride the wave of demand for luxury sports watches, its Overseas becoming a much sought after watch.
