Rolex reported a 4 percent increase in sales to CHF 11 billion in 2025, marking the first time it reached this milestone, according to the annual Swiss Watcher report by Morgan Stanley and LuxeConsult. Despite a 2 percent drop in production, the brand accounted for about 33 percent of the Swiss watch industry's total sales, moving around one million watches. Other major brands also saw strong performances, though Swatch Group disputed the report's estimates for its Omega brand.
The Swiss watch industry continued its shift toward fewer units and higher prices in 2025, with Rolex leading the charge. The brand's sales rose to CHF 11 billion, equivalent to roughly $14 billion AUD, even as production declined for the second straight year—a trend not seen in over two decades. This result highlights Rolex's strong pricing power, as the company produced fewer watches but generated more revenue.
Rolex represented approximately one-third of the entire Swiss watch market, selling about one million pieces. The company declined to comment on the findings, consistent with its reserved approach.
Among competitors, Cartier ranked second with sales of around $4.5 billion, supported by demand for its Tank model. Audemars Piguet placed third, earning $3.3 billion from 53,000 watches, averaging over $62,000 each. Patek Philippe followed in fourth with $3.2 billion from 72,000 units. Omega fell to fifth at $2.8 billion, but its parent company, Swatch Group, criticized the report, stating it relied on “wrong estimations, assumptions, data, figures, and statements.” Richard Mille, despite selling only 5,950 watches, generated $4.1 billion, averaging nearly $689,000 per piece.
Overall, Swiss watch production totaled 14.6 million units in 2025, half the volume from 2011. Timepieces priced above CHF 50,000 ($64,000) drove 89 percent of the industry's growth, though they comprised just 1.4 percent of output. This underscores the dominance of the ultra-luxury segment in sustaining the sector.
