In its illustrious 119-year history, Rolex has reached new heights in 2023, marking a historic chapter for the Swiss luxury watchmaker. Breaking all previous records, Rolex achieved an extraordinary sales milestone, soaring to an impressive $10 billion for the first time ever.
The announcement comes as no surprise, considering Rolex’s enduring legacy of crafting exquisite timepieces. However, what sets this year apart is the sheer magnitude of the achievement – the production of 1.24 million timepieces, resulting in sales of 10.1 billion Swiss francs ($11.5 billion). Analysts from Morgan Stanley and LuxeConsult marveled at the remarkable 11% gain compared to the previous year, emphasizing that Rolex’s current market share is nothing short of “unprecedented,” as reported by Bloomberg.
In a league of its own, Rolex left competitors trailing behind, with Cartier and Omega securing the second and third positions but not even reaching half of Rolex’s remarkable records, boasting 3.1 and 2.6 billion Swiss francs, respectively. Despite the renowned models from Cartier and Omega, including the Tank, Santos De Cartier, Seamaster, and Speedmaster, they couldn’t match Rolex’s unparalleled success.
Founded in 1905 by Hans Wilsdorf, Rolex’s dominance is even more notable when compared to the more aged brands Cartier and Omega, established in 1847 and 1848, respectively. The century-old Rolex has managed to achieve sales records that remain unrivaled in centuries.
Morgan Stanley’s analysis solidifies Rolex’s unassailable position as the undisputed No. 1 within the luxury watch industry. Rolex’s sales surpass the combined figures of the next five leading brands – Cartier, Omega, Audemars Piguet, Patek Philippe, and Richard Mille.
As the watch industry unfolds in 2024, Rolex stands as the reigning champion, signaling a triumphant era for the iconic brand. With a considerable margin, Rolex continues to set the standard for excellence, securing its place as the epitome of luxury in the world of horology.
