Thekabarnews.com—Rolex strengthened its dominance of the Swiss luxury watch industry in 2025. It generated an estimated turnover of more than CHF11 billion, or nearly US$14 billion at exchange rates cited when the figures were published.

The Geneva-based company increased sales by approximately four percent. This feat happened even as it reduced the number of watches released to retailers by around two percent to 1.15 million units, according to the ninth annual Swiss Watcher report prepared by Morgan Stanley and industry consultancy LuxeConsult.

Cartier placed second with estimated watch sales of CHF3.5 billion. Audemars Piguet followed with CHF2.6 billion, ahead of Patek Philippe at CHF2.5 billion and Omega at CHF2.2 billion.

The latest ranking differs from figures circulating in US dollars that place Omega third with sales of US$3.35 billion.

Those lists appear to use estimated retail value rather than manufacturers’ turnover. They apply currency conversions that can change over time. The 2025 Morgan Stanley–LuxeConsult turnover estimates place Omega fifth.

Rolex combines strong global demand, controlled distribution, high resale recognition and the ability to raise prices while limiting supply.

Its average retail price increased by about six percent to CHF14,000 in 2025, according to the report reviewed by Hodinkee.

The four largest privately controlled Swiss brands—Rolex, Audemars Piguet, Patek Philippe and Richard Mille—collectively captured about 49 percent of the industry.

Richard Mille generated an estimated CHF1.75 billion from only around 6,000 watches. This illustrates how limited production and extremely high prices can produce substantial revenue.

Omega fell from third to fifth place. Its estimated turnover declined to CHF2.2 billion, while Audemars Piguet and Patek Philippe recorded increases.

Longines dropped out of the industry’s billion-franc group after its estimated sales fell 18 percent to CHF920 million.

Because Rolex, Patek Philippe and Audemars Piguet are privately controlled and do not publish detailed brand accounts, the figures remain analyst estimates rather than audited company disclosures.

Rolex declined to comment on the report, while Swatch Group, which owns Omega and Longines, disputed its estimates.

Rolex’s growth came despite a broader industry slowdown. Switzerland exported CHF25.6 billion in watches and related products in 2025, down 1.7 percent from 2024, according to the Federation of the Swiss Watch Industry.

Wristwatch shipments fell 4.8 percent to 14.6 million units. This indicates that manufacturers sold fewer watches while the most powerful premium brands protected revenue through higher prices.

Timepieces priced above CHF50,000 accounted for 37 percent of Swiss watch-export value but only 1.4 percent of shipment volume.

That concentration shows how the industry increasingly depends on wealthy buyers and high-margin models.

Cartier, Hermès and Bulgari originate from French or Italian luxury traditions, but their watchmaking operations contribute to Switzerland’s export industry.

The wider rankings also include Vacheron Constantin, Breitling, TAG Heuer, IWC Schaffhausen, Jaeger-LeCoultre and Hublot. This reinforces Switzerland’s central position in global high-end watchmaking.