Top 10 Luxury Watch Brands
According to the Federation of the Swiss watch industry (FH), Switzerland produces around 15 to 20 million watches a year — which is a minuscule amount that represents around 2% of global timepiece manufacturing. However, this is a clear case of quality over quantity. This tiny nation, as reported by the news outlet SWI swissinfo, commands more than a 50% share of the global watch industry in value terms, and more than 95% of watches sold for CHF 1,000 (just over USD $1,100) or more are produced by Swiss companies. Translation: Switzerland dominates when it comes to the luxury segment of the watch market. Watch enthusiasts recognize the cachet of the Swiss-made label, and the country reigns supreme when it comes to fine timepieces. So, if Switzerland dominates the luxury watch segment, which luxury watch brands dominate within that prestigious circle? Read on to discover the top 10 luxury watch brands, as told by the numbers.
What Are The Top 10 Luxury Watch Brands – The Numbers in Brief
The top ten luxury watch brands are:
- Rolex
- Cartier
- Omega
- Audemars Piguet
- Patek Philippe
- Richard Mille
- Longines
- IWC
- Breitling
- Vacheron Constantin
To pinpoint the top 10 luxury watch brands, we didn’t want to just rattle off the names of popular high-end watchmakers or just select our personal favorites. We looked at data to come up with the list, which includes the latest report by Morgan Stanley and LuxeConsult on the Swiss watch industry, as well as figures published monthly by the FH. Note that the comprehensive report co-authored by Morgan Stanley and LuxeConsult came out in early 2023 and uses 2022 figures. Another factor to keep in mind is that some watch brands are private companies that do not share their financials publically, therefore, some of the data is estimated.
With that in mind, here’s a table of the top ten luxury watch brands according to the 2022 turnover numbers as reported by Morgan Stanley and LuxeConsult, which are all in Swiss Francs (CHF) but we used the average 2022 exchange rate (CHF to USD: 1.048) to make it more understandable for our American readers.
| Brand | Estimated Sales 2022 | Estimated Units Sold 2022 | Implied Retail Market Share 2022 | Implied Average Price Per Watch 2022 |
| Rolex | CHF 9.3 billion (USD 9.746 billion) | 1,200,000 | 29.2% | CHF 11,625 (USD 12,183) |
| Cartier | CHF 2.750 billion (USD 2.882 billion) | 620,000 | 7.0% | CHF 5,394 (USD 5,653) |
| Omega | CHF 2.470 billion (USD 2.589 billion) | 560,000 | 7.7% | CHF 6,571 (USD 6,886) |
| Audemars Piguet | CHF 2.010 billion (USD 2.106 billion) | 50,000 | 4.7% | CHF 45,040 (USD 47,202) |
| Patek Philippe | CHF 1.8 billion (USD 1.886 billion) | 68,000 | 5.1% | CHF 36,146 (USD 37,881) |
| Richard Mille | CHF 1.3 billion (USD 1.362 billion) | 5,300 | 2.7% | CHF 245,283 (USD 257,057) |
| Longines | CHF 1.208 billion (USD 1.266 billion) | 1,700,000 | 3.9% | CHF 1,088 (USD 1,140) |
| IWC | CHF 908 million (USD 952 million) | 150,000 | 2.6% | CHF 8,446 (USD 8,851) |
| Breitling | CHF 860 million (USD 901 million) | 230,000 | 2.6% | CHF 5,310 (USD 5,565) |
| Vacheron Constantin | CHF 825 million (USD 865 million) | 32,000 | 2.2% | CHF 32,645 (USD 34,212) |
According to the FH, Switzerland exported 15.8 million wristwatches in 2022, which was slightly higher than the previous year but still below pre-pandemic volume. Interestingly, while volume is lower the export value is higher, as illustrated in the following table. (Note that export value is different than retail value.)
| Year | Wristwatches Exported | Export Value |
| 2019 | 20,646,000 | CHF 20,502,700,000 (USD $21,486,829,600) |
| 2020 | 13,780,000 | CHF 16,138,700,000 (USD $16,913,357,600) |
| 2021 | 15,731,000 | CHF 21,219,400,000 (USD $22,237,931,200) |
| 2022 | 15,789,000 | CHF 23,694,100,000 (USD $24,831,416,800) |
Now that we’ve covered the numbers, let’s dig into the top ten luxury watch brands.
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Rolex: The Top Luxury Watch Brand
No surprises here, but the top luxury watch brand in the world, the king of kings, is Rolex— by far. This Swiss watchmaking giant accounts for almost 30% of the entire Swiss watch market (there are around 300 Swiss watch brands in existence) with an estimated 1.2 million watches sold in 2022 for an estimated sales total of over $9.7 billion. The average retail price for a Rolex watch was calculated at around $12,183.
Those are some impressive numbers in the retail space, and this doesn’t even account for Rolex’s dominance in the secondary market! The brand is known for smash hit watches such as the Day-Date, Datejust, Submariner, Daytona, GMT-Master II, and many others.
More About Rolex Watches:
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Cartier
In second place is Cartier, with about 7% share of the market with sales estimated at just under $2.9 billion for 2022. It’s estimated that Cartier sold about 620,000 watches in 2022 with an average retail price of around $5,653.
While Cartier experimented with its watch offering in the mid-2000s with ultra-creative designs and super complicated timepieces, the brand returned to its roots in recent years by offering revamped versions of its already iconic watches. These include the Tank, Santos, Panthere, Pasha, Ballon Bleu, and others.
More about Cartier Watches:
How Cartier Changed Its Fate and Rose to the Top of the Luxury Watch World
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Omega
For many years, Omega occupied the second spot among the world’s top luxury watch brands but has slipped to third place in recent years. However, the brand isn’t too far behind Cariter. Omega is estimated to have achieved just under $2.6 billion in 2022 sales with 560,000 watches sold for 7.7% of market share. It’s estimated that the average Omega watch retailed for $6,886.
Omega’s most famous watches are the Speedmaster and Seamaster in the American market, yet the Constellation is its bread and butter in certain markets.
More about Omega Watches
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Audemars Piguet
Audemars Piguet has been on an absolute tear over the last decade, climbing the charts of the luxury watch world. Although it’s estimated that Audemars Piguet only sold 50,000 watches in 2022, the watchmaker reached around $2.1 billion in sales and 4.7% of the market share. The average retail price of an Audemars Piguet watch in 2022 was calculated at around $47,202.
The Royal Oak remains the flagship watch collection of Audemars Piguet, and the watch celebrated its 50th anniversary in 2022. There’s also the sportier Royal Oak Offshore and the relatively new Code 11.59, which after a rocky start, is starting to find its footing in AP’s catalog.
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Patek Philippe
Numbers aside for a moment, for many watch enthusiasts, Patek Philippe would be their pick for the top luxury watch brand in the world. However, since we’re guided by numbers here, let’s break down Patek’s. In 2022, Patek Philippe sold an estimated 68,000 watches, reached about $1.9 billion in sales, and maintained about 5.1% market share. The average retail price of a Patek Philippe watch in 2022 was calculated to be around $37,881, which, to my surprise, is about $10,000 less than AP.
The Nautilus and the Aquanaut sports watch continue to be Patek Philippe’s most hyped-up models, yet, for serious connoisseurs and collectors, it’s the brand’s grand complications that are the most sought-after.
Richard Mille: The Most Expensive of the Top 10 Luxury Watch Brands
Richard Mille’s numbers are the most interesting among all ten of the top luxury watch brands. It sold the least in 2022 with only 5,300 watches out the door to customers but Richard Mille reached almost $1.4 billion in sales and held on to 2.7% market share. This is thanks to Richard Mille’s staggeringly high average retail price of its watches, which was calculated at around $257,057! Due to demand, gray market prices are even higher than that.
Not only is Richard Mille one of the world’s top luxury watch brands in terms of sales but RM watches are some of the world’s most expensive too. While most Richard Mille watches are in demand, some notable fan favorites include the RM 11, RM 67, RM 55, and others.
More about Richard Mille Watches
Richard Mille Prices: Historical and Current From Actual Sales Numbers
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Longines: The Most Affordable of the Top 10 Luxury Watch Brands
Yes, before you ask, Longines is a luxury watch brand — an entry-level luxury watch brand. For many, a Longines is their first “nice Swiss watch” and it can serve as a gateway to exploring more expensive timepieces. Longines’ numbers aren’t too shabby either! In 2022, the company sold a whopping 1.7 million watches, achieved almost $1.3 billion in sales, and maintained 3.9% of the market. The average retail price of a Longines watch is far lower than others on this list, calculated at around $1,140.
Interest in Longines watches has grown in the US market over the last few years thanks to the popularity of models such as the HydroConquest, DolceVita, Legend Diver, Master Collection, and plenty of vintage-inspired military and aviation watches.
IWC
IWC isn’t part of the billionaire’s club just yet, but if it continues on its current course, it’ll make the cut very soon. In 2022, IWC sold 150,000 watches at an average retail price of around $8,851, achieving 952 million in sales and 2.6% market share.
Although IWC is best known for its collection of Pilot’s Watches and Big Pilot’s Watches, other lines such as the Portugieser and Ingenieur have their loyal followers too, not to mention IWC’s vast offering of complications such as perpetual calendars.
More about IWC Watches:
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Breitling
It’s no secret that Breitling lost its way a little in the early 2000s but ever since George Kern took over leadership of the company in 2017, the watch brand is back on the right path with an assortment of enduring favorites, revamped classics, and brand new designs. Securing its spot as one of the top luxury watch brands, Breitling achieved $901 million in sales across 230,000 watches sold. Its market share was 2.6% while the average retail price of a Breitling watch in 2022 was around $5,565.
Some of Breitling’s most notable collections include the Navitimer, Chronomat, Avenger, SuperOcean, and the Premier.
More about Breitling Watches:
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History of Breitling
Vacheron Constantin
Next to its fellow Holy Trinity members, Patek Philippe and Audemars Piguet, Vacheron Constantin has always been the most low-profile. Yet, the oldest continuously operating watchmaker in existence is still one of the world’s top ten luxury watch brands. In 2022, Vacheron Constantin sold 32,000 watches and achieved $865 million in total sales. Its market share was 2.2% and the average retail price of a Vacheron Constantin watch was around $34,212.
The sporty Overseas is no doubt Vacheron Constantin’s hero watch collection these days; however, the brand makes some of the most impressive high-complication watches and striking dress watches in the market too.
More about Vacheron Constantin Watches:
The Best Entry-Level Vacheron Constantin Watches
What is the Price of a Vacheron Constantin Overseas?
New Vacheron Constantin Overseas Chronograph “Panda” for 2023
The Finest High-End Watch Companies
There you have it; the top 10 luxury watch brands in the world as told by the numbers. What we have is a great mix of brands, ranging from entry-level luxury to ultra-exclusive and plenty in between.
What’s more, together, these ten brands offer a fantastic assortment of watch styles, with countless designs, features, complications, and materials available to suit just about any type of watch buyer.
