Global Top Ten Swiss Watch Brands Sales Rankings and Market Trends

As we enter the second quarter of 2024, data from Morgan Stanley and LuxeConsult shows that the sales rankings and growth of Swiss watch brands for the entire year of 2023 indicate that the watch market continues to be dominated by luxury brands. Below are the rankings of the world’s top ten watch brands and their characteristics. These brands not only excel in unique designs but also continually innovate technologically, attracting the attention of numerous watch enthusiasts.

• 1st Place — Rolex

  Firstly, Rolex has once again claimed the championship, known as the epitome of luxury watches, Rolex is famous for its outstanding craftsmanship and enduring value. Notably, Rolex not only continues to lead in sales but also holds a market share of up to 30%, far ahead of other watch brands.

  

• 2nd Place —Cartier

  Cartier is favored by female consumers for its elegant designs and jewelry watches.
  

• 3rd Place — OMEGA

  OMEGA is renowned for its precise timing technology and history of space exploration.

  

• 4th Place —Audemars Piguet

  AP is known for its unique Royal Oak series, which has broken traditional designs and become a symbol of fashion.

• 5th Place —Patek Philippe

  Next in fifth place is PP, a brand favored by collectors for its complex mechanical designs and limited edition watches.
  

• 6th Place —Richard Mille

  Sixth place goes to RM, a brand sought after by young consumers for its high-tech materials and avant-garde designs.
   

• 7th Place —A. Lange & Söhne

  A. Lange & Söhne and Vacheron Constantin rank seventh and eighth, respectively. Lange is known for its minimalist, elegant designs, often featuring clear dials and exquisite hands. Its iconic “Lange 1” series features an asymmetrical dial design.

  

• 8th Place — Vacheron Constantin

  Vacheron Constantin is known for its complicated mechanical watches, such as perpetual calendars and minute repeaters, and pursues excellence in the decoration and craftsmanship of movements.

  

• 9th Place —Breitling

  Since Breitling was acquired by CVC Capital Partners in 2017, the company’s sales have maintained positive growth until 2023, reaching 870 million Swiss francs, placing it in ninth place.

  

• 10th Place — TISSOT

  TISSOT, with a history of over 170 years, has been a strong contender in this list, except for a brief drop out of the top ten in 2022. In 2023, they achieved sales of 830 million Swiss francs, surpassing well-known brands like Hublot, TAG Heuer, Jaeger-LeCoultre, and IWC, reclaiming the 10th position.

These brands not only continue to innovate in design and technology but also maintain a strong influence in the market. Whether for collection or daily wear, these luxury watches showcase the taste and status of the wearer.

What are the main trends in the watch market in 2024?

In 2024, the trends in the watch market show diverse development directions, especially in the fields of smartwatches and luxury watches. According to market research, the demand for smartwatches continues to grow, with shipments reaching 9.1 million units in the first quarter of 2024, a year-on-year increase of 54.1%. This growth is primarily driven by emerging markets, particularly in places like China and India, where consumer demand for wearable devices is increasing.

The Continuing Appeal of Luxury Watches

Despite the proliferation of digital products potentially affecting the demand for traditional watches, luxury brands like Rolex continue to maintain a strong market position. As one of the most well-known luxury watch brands globally, Rolex’s exceptional quality and brand value secure its place in the market. The watches from these brands are not only tools for displaying time but also symbols of identity and status.

Technological Innovations in Smartwatches

The growth of the smartwatch market is also accompanied by technological innovations. According to reports, the smartwatch chip market is expected to continue expanding in 2024, reaching new heights by 2031. These technological advancements allow smartwatches to provide not only basic time display but also various functions such as health monitoring and activity tracking, attracting more consumers.