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Luxury watch industry - statistics & facts

Precision, quality, luxury, design, perfect workmanship, tradition, coupled with specialist technology: the luxury watch industry combines traditional Swiss values in a traditional Swiss product, and as a highly export-driven sector, it conveys these values to the wider world. Global watch production is dominated by only a handful of players, the clear leaders being Switzerland, Hong Kong, and China. China is the world's biggest watch producer in terms of volume. However, Chinese watches are mainly geared towards the lower end of the price range. In the luxury segment, on the other hand, Switzerland enjoys a position of near-monopoly.

Swiss watch industry

Not only is the watch industry a valuable ambassador for Switzerland’s industrial prowess, it also constitutes a major pillar of the country’s economy – the watch industry has proven hugely significant to a number of the country's regions. The profile of the Swiss watch industry is that of a fully developed cluster in which the individual players – from supplier, through brand, to retailer – work together like clockwork. As of 2020, Rolex was the leading Swiss watch brand in the world. In that year, the Rolex brand was valued at around eight billion U.S. dollars. In 2020, the global export value of Swiss watches amounted to about 16 billion Swiss francs.

Luxury consumers

In recent years, many luxury manufacturers have altered their marketing and sales techniques to adapt to the changing times. They seem to understand the importance of using social media to market their product. The French high-fashion powerhouse Chanel and The Kering Group's Gucci were the leading luxury brands on Instagram with 41 million followers each. In addition, luxury companies often emphasize sustainable aspects of their production processes, spotlighting tradition and craftmanship as their values. Today, most luxury industry professionals also perceive sustainable development as an opportunity. In 2020, 37 percent of consumers worldwide disagreed with the idea that luxury brands were more respectful of the environment than other brands in the fashion industry.
Luxury watches are highly valued for their craftsmanship and prestige. Among the UK consumers, Rolex was the most popular luxury brands as of December 2020.

Key figures

The most important key figures provide you with a compact summary of the topic of "Luxury watch industry" and take you straight to the corresponding statistics.

International trade

Leading brands & companies

Consumer behavior

Interesting statistics

In the following 4 chapters, you will quickly find the 30 most important statistics relating to "Luxury watch industry".

Luxury watch industry

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!
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Luxury watch industry - statistics & facts

Precision, quality, luxury, design, perfect workmanship, tradition, coupled with specialist technology: the luxury watch industry combines traditional Swiss values in a traditional Swiss product, and as a highly export-driven sector, it conveys these values to the wider world. Global watch production is dominated by only a handful of players, the clear leaders being Switzerland, Hong Kong, and China. China is the world's biggest watch producer in terms of volume. However, Chinese watches are mainly geared towards the lower end of the price range. In the luxury segment, on the other hand, Switzerland enjoys a position of near-monopoly.

Swiss watch industry

Not only is the watch industry a valuable ambassador for Switzerland’s industrial prowess, it also constitutes a major pillar of the country’s economy – the watch industry has proven hugely significant to a number of the country's regions. The profile of the Swiss watch industry is that of a fully developed cluster in which the individual players – from supplier, through brand, to retailer – work together like clockwork. As of 2020, Rolex was the leading Swiss watch brand in the world. In that year, the Rolex brand was valued at around eight billion U.S. dollars. In 2020, the global export value of Swiss watches amounted to about 16 billion Swiss francs.

Luxury consumers

In recent years, many luxury manufacturers have altered their marketing and sales techniques to adapt to the changing times. They seem to understand the importance of using social media to market their product. The French high-fashion powerhouse Chanel and The Kering Group's Gucci were the leading luxury brands on Instagram with 41 million followers each. In addition, luxury companies often emphasize sustainable aspects of their production processes, spotlighting tradition and craftmanship as their values. Today, most luxury industry professionals also perceive sustainable development as an opportunity. In 2020, 37 percent of consumers worldwide disagreed with the idea that luxury brands were more respectful of the environment than other brands in the fashion industry.
Luxury watches are highly valued for their craftsmanship and prestige. Among the UK consumers, Rolex was the most popular luxury brands as of December 2020.

Interesting statistics

In the following 4 chapters, you will quickly find the 30 most important statistics relating to "Luxury watch industry".

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