Watches
Rolex Sales Top $10 Billion as Luxury Watchmaker Gains Ground, Morgan Stanley Says
- Luxury watchmaker has increased its market share, analysts say
- Sales of Swatch and Vacheron Constantin brands are also rising
Rolex grew its retail market share to just over 30%.
Photographer: Leon Neal/Getty ImagesRolex sales crested $10 billion for the first time as the top Swiss watch brand gained market share, according to a report by Morgan Stanley.
The dominant Swiss luxury watch brand produced 1.24 million timepieces in 2023 with sales of 10.1 billion Swiss francs ($11.5 billion). That’s a gain of 11% from 2022, analysts at Morgan Stanley and Swiss firm LuxeConsult said in a report Wednesday, adding that Rolex’s current level of market share is “unprecedented.”