According to the latest Swiss watch industry report from Vontobel, Rolex continued to tighten production for the second consecutive year in 2025 — yet its market dominance only grew stronger. While the overall industry shifted toward fewer units at higher prices, Rolex further solidified its position as the undisputed #1 brand in Switzerland.
Vontobel — one of the few banks with deep expertise in both luxury watches and the broader luxury goods sector — publishes one of the most respected annual reports on the Swiss watch industry. Their 2026 edition reveals a clear divide: a handful of top brands are thriving, while most others are facing serious headwinds.
Rolex’s Market Share Keeps Climbing
In the high-end segment (watches priced above CHF 3,000 ≈ $3,400 USD), Rolex’s share of sales rose from 57% in 2023 to an estimated 61% in 2025. That means Rolex alone accounts for more revenue than the next several major brands combined.
Key data points from the report:
- Rolex generated nearly CHF 10.5 billion in sales in 2025 — more than the combined sales of the #2 through #6 brands.
- Cartier (Richemont Group) moved up to #2 with around CHF 3.4 billion.
- Audemars Piguet climbed to #3 (≈ CHF 2.4 billion), benefiting from its vertically integrated retail model (most sales through own boutiques).
Meanwhile, many other large brands saw significant declines:
- Omega, Longines, and Tissot (Swatch Group) all dropped in rankings compared to 2019.
- Brands like IWC, Jaeger-LeCoultre, Panerai (Richemont), and Hublot (LVMH) faced particular pressure due to their reliance on cyclical male-dominated segments and softer luxury markets.
Why Rolex Keeps Winning
Vontobel analysts point to deliberate strategy: Rolex intentionally reduced production again in 2025. The goal? Maintain scarcity, protect pricing power, and reinforce exclusivity — rather than chase volume growth.
The Certified Pre-Owned (CPO) program, launched in late 2022, has also become a major growth driver. Vontobel estimates CPO sales are now approaching CHF 500 million annually. If treated as a standalone brand, it would already rank among the top 10 Swiss watchmakers by revenue.
Major retailers in the program include:
- Bucherer & Tourneau (both owned by Rolex)
- Watches of Switzerland
- The 1916 Company
In short: Rolex is not just surviving the current market — it’s quietly tightening its grip.
What This Means for Collectors and Buyers in 2026
The report paints a clear picture: while most of the industry is under pressure from rising gold prices, a stronger Swiss franc, and softer demand in key segments, a few elite brands continue to gain ground.
For buyers, this environment creates both challenges and opportunities:
- Rolex remains extremely hard to obtain at retail.
- Certified pre-owned Rolex pieces offer a more realistic path — with strong value retention and full authentication.
- Brands outside the top tier may become more attainable — but their long-term resale strength is less certain.
At EW Watches, we focus exclusively on certified authentic watches — both new and pre-owned — with full documentation and warranty. Our physical boutiques in Hong Kong, Düsseldorf, and Madrid offer Try-On Service, and we provide secure global shipping.
Whether you’re hunting a classic Rolex Datejust, a modern sports model, or exploring alternatives from other Swiss houses, we’re here to help you make confident, informed decisions.
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