Among the best watch brands, those of luxury, the most sold is Rolex
With a global turnover of 61.8 billion, Rolex stands out among the best watch brands
Despite the ubiquity of smartphones, laptops and tablets, people still turn to to find out what time it is. best watch brands. Sales, in fact, they will continue to grow, despite the Covid and, indeed, technological developments. This is what emerges from a specialized market study, which shows how producer revenues were $61 billion and $850 million in 2020 worldwide. Moreover, an annual increase of 4.1% is expected between 2021 and 2026, similar or higher than that of the global economy. This means that the demand for watches will increase alongside that of other goods. And it is also for this reason that the leading companies in this market are among the largest and most successful in the world. Which are they? And which ones charge the most?
Swatch has 36,000 employees worldwide
Swatch is undoubtedly the biggest manufacturer. Besides being among the Brand Most Iconic is also the world’s largest group in the watch market. Inside, there are small and large companies, in the economy and luxury segments. The total turnover of the group now led by Nayla Hayek was 8 billion and 243 million Swiss francs in 2019, equivalent to 7 billion and 905 million euros. In 2020, due to the pandemic, there was a collapse, which brought revenues to 5 billion and 595 million Swiss francs, or 5 billion and 366 million euros. According to the multinational’s latest report, this is a drop of 28.7%, at constant exchange rates, which however foresees a strong recovery in 2021 and the following years, which will make it possible to reach and exceed the pre-existing levels. -Covid. The recovery was also facilitated by the fact that despite everything last year it was possible to make a profit, although “only” 52 million francs, compared to more than one billion in 2019.
Good news especially for 36 thousand employees scattered in 50 countries, who produce some of the best watches in the world. Among these, for example, those of Omega, the group’s brand, and second among those with the highest turnover in the luxury segment, as evidenced by our infographic, which only deals with this market segment.
Major watch brands, Rolex achieves a turnover of 4.7 billion
Omega’s revenue was, in fact, $1.874 million in 2020, however far removed from those of the first luxury watch manufacturer, Rolex. The Geneva company, whose products have always been the symbol of real wealth status symbol, achieved a turnover of 4 billion and 711 million dollars last year. Of course, also in this case there was a decrease compared to the pre-pandemic period, when it had reached 5.2 billion, also in dollars, and in addition to the first position in the segment. luxury it held the third-largest overall market, surpassed only by Swatch and Japan’s Seiko.
How many Rolex employees are there
As it is a high value-added company, with more limited production than companies offering cheaper products, it has a relatively small number of employees. There are about 4 thousand, a quarter of those of Swatch and a third of those of Seiko. Remaining in the sector of the best watch brands, therefore in the luxury segment, after Rolex and Omega we find Cartier Watches. It is part of the Swiss Richemont group, the second in the world in luxury after the French LVMH d’Arnault, and which in addition to Cartier also includes other prestigious brands such as Montblanc. Specifically, through the sale of Cartier Watches, in 2020 it raised one billion and 737 million dollars.
Patek Philippe, Longines and Audemars Piguet exceed one billion in sales
Looking at the other brands that occupy the successive positions in the ranking of the best luxury watch brands for both men and women, we also have confirmation of total Swiss dominance. Besides Rolex, Omega (Swatch group) and Cartier Montres (Richemont group), Patek Philippe, Longines and Audemars Piguet are also based in the Swiss Confederation, the second richest country in the world. These are the other luxury brands that achieved a turnover of more than one billion dollars in 2020.
How much do Patek Philippe watches cost?
The first of these, Patek Philippe, had income for one billion and 237 million dollars, and it is certainly among those that are positioned in the upper range, with watches that even cost more than 100 thousand euros and are among the favorites of collectors. It has around 400 retail stores worldwide and has had customers such as Queen Victoria, Queen Elizabeth II, John F. Kennedy, Albert Einstein.
On average cheaper I Longines. It is also one of the brands in the Swatch universe which earned $1 billion and $221 million last year thanks to the sales of this brand’s products. One billion and 199 million dollars turnover, instead of Audemars Piguet, a company also from eastern Switzerland, in the canton of Vaud, and favorite of several VIPs, by Lionel Messi, second highest paid athlete in the world and brand ambassador for years with Tom Cruise.
Tissot is also among the top 10 watch brands
Among the other brands of luxury who sell more watches, there are increasingly less well-known brands. Like Tissot, member of the Swatch group since 1998, e famous for its attention to the world of sport, so much so that it was chosen to supply stopwatches for motorcycling, cycling, fencing and ice hockey competitions. It achieved a turnover of 661 million dollars in 2020, less than the 840 million of Richard Mille, another Swiss brand, but more than the 628 million of Tag Heuer, also Swiss.
Closes the list of the 10 luxury watch companies with the highest income Iwc, or International Watch Company, based in Schaffhausen and also, like Cartier Watches, part of the Richemont group. It made revenue of 576 million in 2020. It is also the most environmentally friendly brand according to the WWF, which placed it first among 15 producers in the same sector in terms of commitment to sustainable development. The watchmaking and jewelery sector is under the prism of environmental associations due to the high use of raw materials and the impact that the search for them has on the territories of the poorest regions of the world. Suffice it to say that this part of the economy uses 50% of the world’s annual gold production.
Data from 2019-2020
Source: Mordor Intelligence
Read also: The top 5 fashion companies in the world by turnover
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