Morgan Stanley’s Top 20 Swiss Watch Company Ranking for 2023 has just been released.

The secrecy of the Swiss watch industry is something that will probably never change, and because of it companies like Morgan Stanley will provide their mathematical estimates that give everyone an idea of market share, unit sales, sales revenue, and so forth.

This chart is part of an in-depth Swiss watch industry report that’s co-authored by Oliver R. Muller of LuxeConsult and published annually by Morgan Stanley. Though not vital to the day-to-day operations of the top 20 Swiss brands, or the hundreds of brands that did not make the top 20, it certainly provides a good picture of what’s happening at the top of the Swiss watch industry. It’s a scoreboard for the best-selling watch brands in terms of revenue and units. Perhaps best of all, it gives consumers, retailers, and industry executives a general idea of where the leading Swiss watch brands stand on a year-to-year basis.

The top 5, for instance, have stayed the same as last year. Rolex, Cartier Watches, Omega, Audemars Piguet, and Patek Philippe. IWC and Breitling have both been stair-stepping their way up the charts for the past couple of years and have moved up to the 8 and 9 spots, respectively. Tissot fell three spots and Longines dropped one. Richard Mille and Vacheron Constantin both improved one spot. Hublot, TAG Heuer, Jaeger-LeCoultre, Tudor, Officine Panerai, and Van Cleef & Arpels Watches have stayed exactly the same at 12, 13, 14, 15, 16, and 17, respectively. Blancpain and Chopard both dropped one spot, to 19 and 20, while Hermes moved up one spot to 18.

 

Source: LuxeConsult, Morgan Stanley Research.

Editor’s note: All rankings are based on estimated sales revenue, not numbers directly reported by watch brands.