In 2025, the luxury watch industry has confirmed its strength… while revealing some vulnerabilities. Dominated by a few major brands, the sector remains driven by strong value but faces a slowdown in global demand, particularly in Asia.
The watch industry’s “Big Five” remain in place
The luxury watch market remains undeniably dominated by Rolex, the undisputed leader. With estimated revenue of around 11 billion Swiss francs in 2025, the brand confirms its position far above its competitors.
Behind this giant, several brands share the rest of the high-end market. Cartier, backed by the Richemont group, shows significant growth with approximately 3.5 billion Swiss francs, driven in particular by its positioning between watchmaking and jewelry. Next come Audemars Piguet and Patek Philippe, which continue to rely on rarity and limited production volumes to sustain steady growth, with respective revenues of nearly 2.6 and 2.5 billion Swiss francs.
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