Morgan Stanley’s Top 50 Watch Brands for 2025, Rolex Still Leading the Pack, Strong Polarization of the Market
Morgan Stanley's annual analysis reveals significant trends in the watch industry for 2025, highlighting the continued dominance of Rolex and the growing polarization within the market. The report indicates that the top four brands (Rolex, Cartier, Audemars Piguet, and Patek Philippe) account for over 50% of the overall Swiss watch market, signaling a shift where a few key players gain market share while many brands struggle with declining sales. The report notes that the Swiss watch market is contracting for the second consecutive year, with an estimated total retail value of CHF 49 billion and a decline in industry volumes since 2011. Additionally, the ultra-premium segment, defined as watches priced above CHF 50,000, continues to thrive, contributing significantly to market growth despite comprising only a small fraction of total sales volumes. Brands within this segment, along with high-end independent watchmakers, have shown resilience, while traditional core ranges face challenges. The emergence of Christopher Ward as a notable mid-range independent brand further illustrates the shifting landscape, where the industry's dynamics favor those who can adapt to changing consumer preferences and economic conditions.
