Top 20 Swiss Watch Brands According To Statistics - Watch Market Update 2023

*The charts and graphs represented in this video cannot be reproduced without LuxeConsult and Morgan Stanley's express authorization*

In this video, I’ll dissect a report on the state of the Swiss Watch Industry by Morgan Stanley and LuxeConsult to share a detailed look at the industry’s top twenty brands from last year. In addition, I’ll share many other interesting facts and figures that help paint a picture of the broader watch market going into 2023.

0:00 - Intro & Organization
2:01 - Top 10 Swiss Brands
7:47 - Following 10 & Other Winners
9:06 - Industry Value & Volume

How LuxeConsult Calculates Market Share: *This text is taken directly from LuxeConsult’s report.

Unlike the fast-moving consumer goods (FMCG), beverage, or retail sectors, there is no market share data published on the Swiss watch sector by consultancy firms such as Nielsen, GfK, or Kantar (which use either scanner data or panels to calculate the market shares). This is due to the impracticality of conducting such surveys and the discreet nature of the Swiss watch industry.

In order to calculate market shares in the Swiss watch industry, we first estimated
the number of units sold and the turnover of each of the top 65 watch brands.
Our estimates here are based on figures reported by public companies, public
statements made by the CEOs of watch brands over the years, direct discussions
with watch brands, data from Fédération de l'Industrie Horlogère Suisse (FHS), and
dialogue with industry contacts.

In the second step, we estimate the share of retail sales in each brand's turnover.
This is done by estimating the total number of directly operated stores for each
Brand, as well as examining statements made by watch brand CEOs. This second
is often overlooked and, in our opinion, can lead to significant errors when trying
to estimate market shares in the industry, given the following: a) The split varies
substantially by brand. For example, we estimate that close to 100% of Rolex
watches are sold by third-party retailers (i.e. wholesale). At the opposite end of
the scale, we estimate that less than 40% of Swatch brand sales are done at
the wholesale level. b) The retailers' significant markup (from ~28% for the strongest
brands like Rolex and Patek Philippe to ~50% for brands less in demand) creates
significant distortion in market share calculations.

[Adonis]

Would be interesting to see the Swiss brands compare against the non-swiss brands. How do they fare against the Japanese and German brands mainly and also other countries.

[edwardb]

This was very helpful. Teddy has done a great job of informing us about all aspects of watches.I would be interested in a comparison to German and Japanese watches and perhaps watches from other countries. I have the impression China is very high in volume but hasn't gone after the high end. I wonder if that could change.

[quaro]

Thanks for the great technical content and being a fan of the less mainstream brands

[casa]

A great summary and analysis in just a few minutes, Teddy. Thank you very much.

[robertosanchez]

Please do more content like this in the future, would be interesting to see how brands out of the Swiss production perform..., like Japan, Germany and England and even USA...

[draakisback]

I be curious to see the comparison between the Swiss and other countries like Germany and Japan. Seeing Rolex and then the top three eclipse so many other brands just goes to show you how top heavy the watch industry truly is. People going after Royal oaks and nautiluses as well as other truly expensive pieces eclipse collectors like myself where my most expensive watch is probably worth 6K-8k (outside of my VC overseas which I got for my grandfather).

[pdu]

As a newcomer to this world, it’s great to have this context about the relative size and success of the leading brands. A lot of “big”’names competing for that last 8.5% of the market.

[DrBob]

Superb breakdown of the data Teddy! Appreciate your expertise and genuine desire to further our knowledge.

Great video. Even with these stats some pieces availability on your top 10 is almost nonexistent unless purchased in the grey market. I phased out of my Daytona and wanted to move on to something sophisticated, complicated, with history yet simple. Good lord, when the AD finds out I am from out-of-town, interest is lost fast. Since this is a want and not a need, I can always purchase in due time. Thanks for the information.

[mannycalavera]

I just opted out. Got a Grand Seiko. Sold my Swiss watches. Current prices are stupid. And I am over the whole luxury shtick.

[spex]

One of the more annoying trends in any hobby is when enthusiasts start to fancy themselves as market analysts - in my experience, nothing kills passion quicker than a discussion of market share. That said, the level of research and presentation in this video is a cut above and very welcome.

[mikesb-]

Blancpain (1735) and Vacheron Constantin (1755) certainly deserve recognition for being the world's oldest thriving watch brands!

[kristofferglennpfalmer]

Thank you Teddy and team. I greatly appreciate this content. Keep up the good work.

[vicrod]

Excellent summary of the report, thanks for turning what is probably a dense jargon filled technical report into a coherent, accessible presentation, well done .

[sumitkar]

Great content as always Teddy - would love to see an episode around the top 20 selling Swiss watch models

[DecemberNames]

I just watched your video and I absolutely loved it! I found your presentation to be incredibly informative and engaging. You did a great job of breaking down complex concepts into easy-to-understand terms. I also appreciated the humor and personal anecdotes that you sprinkled throughout the video. It made the content more relatable and enjoyable. You're one of the few YouTubers who I can consistently count on to deliver high-quality content. Keep up the great work! "I outsourced this feedback to AI"

[billybullis]

Teddy, you are awesome. I appreciate your professionalism, and your richly informative, crystalline style.

[christianrodriguez]

Man when I first started my watch collection I spent 2 grand on like 8 invicta watches and I really liked the watches and how they look until I dove deep into the watch collecting world and realized how dumb it was to buy those watches glad videos like this exist wish I watched this sooner lol

[Megatraum]

I wouldnt wear a Richard Mille if I found one on the ground.

[AbdulRWatches]

Great video Teddy, really like this kind of financial and statistical type of videos 👍🏽