Swiss Watch Industry 2023: Rolex Leads While MoonSwatch Shines
2023 has been a remarkable year for the Swiss watch industry, with Rolex's sales soaring to CHF 10.1 billion, affirming its dominance with a 30% global market share. However, the spotlight is on Swatch's MoonSwatch, the fastest-growing brand for the second consecutive year, marking a 63% increase in turnover to CHF 660 million. This surge has not only boosted Swatch's presence but also strategically benefited Omega, part of the Swatch Group, highlighting a successful cross-promotion within the conglomerate. With the industry witnessing significant shifts, including a rise in privately-owned brand sales and strategic realignments, the dynamics of traditional and innovative forces shape the future landscape of luxury timepieces.
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