The top performing luxury watch brands in 2023

With a new year, there are many things to look out to. One of these things is Watches and Wonders in March, later on. But, there is a possibility to look back at 2023 and some results: which brand is the top performing luxury brand in the industry? Morgan Stanley made their yearly report on the Swiss watch industry, with the top 50 performing luxury watch brands. And it seems we have a winner, resulting in the best performing luxury watch brand.

Kas Klerx

Chief Content

Last update: 06/03/2024

Take a guess

With stories all over the internet, it seems really hard to get your hands on a new Rolex at your local authorized dealer (AD). But in fact, when looking at these numbers, there’s more. With an estimate of 1.240.000 watches sold in 2023, Rolex is the king (again) in the luxury watch industry with a turnover of 10 billion CHF in 2023, which is crazy! That being said, Rolex now has 30% market share in the luxury watch business and it seems like it’s continuing to grow. Bear in mind: these numbers are from Rolex, so that’s even without the so called grey-market and vintage pieces to be sold from Rolex in 2023. It’s even bigger than you’ve thought, right?

Also read

Watches & Wonders

15/03/2024 — Kas Klerx

Second best

Richemont is one of the largest retailers which include Cartier, and it’s the second best performing watch maker in 2023. With over 650.000 pieces sold last year, we can truly say that Cartier is on a hunt and making a strong comeback. With lots of potential new buyers, new models and the ever-growing hype, Cartier has done 3.1 billion CHF in turnover in 2023.

Suprises on the market

When it comes to other brands, there are some things you might not expect. One of these is Vacheron Constantin at the seventh place in this list, but also Richard Mille at 6. We even find Patek and Audemars in the top 5, which is making sure the wealth continues to grow over the years.

The last one on the list is Greubel & Forsey, with only 255 watches sold in 2023, but still realizing a turnover of 50 million CHF. That being said, a single piece is sold for €196.000CHF, which is pretty crazy.

Source

All information mentioned about the watchmarket are based on research from Morgan Stanley.