The renowned Swiss watchmaker Rolex achieved a historic milestone in sales last year, reaching 10.1 billion Swiss francs ($11.5 billion), as reported by Morgan Stanley on Wednesday. This accomplishment marked a significant moment for the luxury brand, signifying a remarkable 11 percent increase from the previous year’s sales in 2022. The report highlights Rolex’s growing retail market share, which expanded by just over 30 percent, fueled by sustained demand from affluent clientele.
The data, compiled by bank analysts and Swiss firm LuxeConsult, underscores Rolex’s current market share as “unprecedented.” The brand’s ability to attract and retain a substantial portion of the market reflects its enduring appeal and desirability among consumers with discerning taste. The 10.1 billion Swiss francs in sales position Rolex as a dominant player in the luxury watch industry, reaffirming its status as a symbol of prestige and craftsmanship.
In addition to Rolex’s remarkable performance, Vacheron Constantin also entered the billion-franc sales club in 2023, achieving this milestone for the first time under the leadership of CEO Louis Ferla. Richemont, the luxury goods group that oversees Vacheron Constantin, holds Ferla in high regard for his role in steering the brand’s success. According to Revolution Watch, Vacheron Constantin recorded sales of CHF 1.097 billion, reflecting an impressive 18 percent increase. Established in 1755, Vacheron Constantin boasts over 260 years of watchmaking expertise, earning a reputation for blending simplicity with extraordinary detailing in its timepieces.
Vacheron Constantin’s recent introduction of timepieces from its Les Cabinotiers collection exemplifies its commitment to innovation and uniqueness. The brand continues to captivate enthusiasts with its diverse and exceptional offerings, gaining traction even in the secondary market. Dealers report a growing demand for Vacheron Constantin’s neo-vintage models, further solidifying its status as a brand appreciated not only for its historical legacy but also for its contemporary relevance.
The success of both Rolex and Vacheron Constantin in surpassing the billion-franc sales mark in 2023 reflects the resilience and allure of high-end watchmaking. These achievements underscore the continued demand for meticulously crafted timepieces that transcend trends and become enduring symbols of luxury. As the market evolves, these iconic brands showcase their ability to adapt, innovate, and maintain their positions as leaders in the competitive landscape of luxury watches.
