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At the beginning of March, the American investment bank Morgan Stanley, in collaboration with the LuxeConsult firm specialising in the watchmaking world, published its annual report on the economic state and financial trends of the Swiss watch industry for the year 2021.
This document bases its data on figures relating to Swiss watch exports, which have been historic, amounting to CHF 22.3 billion, or approximately 21.6 billion euros, in 2021.
In value terms, sales have returned to their pre-pandemic level, up 31.2% on 2020 and also 2.7% higher than in 2019. However, in terms of volume, although sales were 2 million higher than in 2020, they did not reach the level achieved in 2019, remaining 4.9 million below.
The big winners of 2021
Before revealing which watch companies achieved the best results during 2021, this report reveals an increased polarisation of the market. Indeed, five brands share more than half of the market (53.6%) : Rolex in first position, followed by Omega, Cartier Watches, Longines and finally, Patek Philippe. Moreover, four brands also stand out from the rest by their exponential growth over the last few years: Rolex, Audemars Piguet, Patek Philippe and Richard Mille.
In the ranking of Swiss watch brands with the highest sales and turnover, Rolex is well ahead of the other companies. With a turnover of CHF 8 billion in 2021, Rolex is the market share leader, holding almost 29% of the market. And the latter is achieving its best year ever since the brand was founded in 1905, thus demonstrating a historic recovery from the year 2020, which was complicated in every respect for watch companies.
On the second step of the podium is Omega, with sales of CHF 2.2 billion in 2021, an increase of 30% compared to 2020. It also has the second highest market share – although still far behind Rolex – at 7.5%. Close behind is the watch division of Cartier, with CHF 2.39 billion in sales in 2021 and a market share of almost 7%.
In terms of sales, Audemars Piguet is in fourth place and is having its best year ever, with a 4.2% share of the Swiss watch market.
Nicknamed “The Magnificent Seven” by Morgan Stanley, the “club” of billionaire brands once again has seven members. Composed of Rolex, Omega, Cartier Watches, Longines, Patek Philippe and Audemars Piguet, this year it has been joined by Richard Mille. The latter brand thus ranks seventh with sales of CHF 1.1 billion.
Finally, this report also comments on the onslaught of connected watches that the Swiss watch industry has been undergoing for more than five years now. 80 million connected watches were sold last year compared to 16 million watches for the Swiss watch industry as a whole. The Apple Watch remains the absolute leader in this segment, with over 50% of the market share.
Read also > WATCHES AND WONDERS 2022 : WHICH WATCHES WILL BE PRESENTED AT THE GENEVA WATCH SHOW ?
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At the beginning of March, the American investment bank Morgan Stanley, in collaboration with the LuxeConsult firm specialising in the watchmaking world, published its annual report on the economic state and financial trends of the Swiss watch industry for the year 2021.
This document bases its data on figures relating to Swiss watch exports, which have been historic, amounting to CHF 22.3 billion, or approximately 21.6 billion euros, in 2021.
In value terms, sales have returned to their pre-pandemic level, up 31.2% on 2020 and also 2.7% higher than in 2019. However, in terms of volume, although sales were 2 million higher than in 2020, they did not reach the level achieved in 2019, remaining 4.9 million below.
The seven big winners of 2021
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At the beginning of March, the American investment bank Morgan Stanley, in collaboration with the LuxeConsult firm specialising in the watchmaking world, published its annual report on the economic state and financial trends of the Swiss watch industry for the year 2021.
This document bases its data on figures relating to Swiss watch exports, which have been historic, amounting to CHF 22.3 billion, or approximately 21.6 billion euros, in 2021.
In value terms, sales have returned to their pre-pandemic level, up 31.2% on 2020 and also 2.7% higher than in 2019. However, in terms of volume, although sales were 2 million higher than in 2020, they did not reach the level achieved in 2019, remaining 4.9 million below.
The seven big winners of 2021
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