Rolex is the biggest watch brand in the world (so long as you don’t count Apple). But while that information might not come as a surprise, Rolex has actually grown its market share in 2020 despite selling an estimated 140,000 fewer watches than the year before (due to factory closures as a result of the pandemic). This is according to a report by Morgan Stanley that stated Rolex has consolidated its lead at the top during the pandemic, increasing its market share to 24.9% in 2020, up from 22% in 2019. What is also remarkable is that Rolex SA, who also owns Tudor, has become the largest watch manufacturing group on the planet by claiming 26.8% of the market, beating Swatch Group who captured 25.2%. This growth in market share was in the face of a drop in turnover of 14% from CHF5.05 billion down to CHF4.42 billion, a fall that was softened by a 5% price increase across their range. In contrast, the latest data from the Federation Horlogère Suisse (FHS) industry body painted a grim picture across the rest of the industry, with a drop in export value of Swiss watches by 21.8% and the number of watches…
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