In response to Morgan Stanley and LuxeConsult's Swiss Watcher report ranking Swiss watch brands for 2025—which crowned Rolex as leader with turnover exceeding the next four brands combined and dropped Swatch's Omega to fifth—Swatch Group issued an open letter decrying the estimates as inaccurate and hinting at legal action.
Swatch Group's open letter, published on March 4, 2026, sharply criticized the annual Swiss Watcher report for its 'lack of reliable data' and 'questionable methodology,' leading to 'incorrect findings' on brand turnovers. The report had ranked Omega fifth, down from third the prior year, behind Audemars Piguet and Patek Philippe, with LuxeConsult's Oliver Müller noting Omega's share loss to Rolex.
Swatch highlighted discrepancies, such as the report's claim of a 5% turnover decline for Tissot versus the company's actual 3% increase. Though publicly traded, Swatch does not break out brand-specific sales. The letter warned that the report's statements on sales and profits 'could seriously undermine customer and retailer trust,' with inaccuracies 'so severe that... legal action should be considered.'
Müller was unavailable for comment but has previously explained the report's estimation process amid the industry's opacity, encouraging watchmakers to provide data proactively. The Swiss Watcher report, obtained by JCK despite limited distribution, also noted overall industry trends like rising average retail prices and a dip in total units sold among top 50 brands.