Top 15 Luxury Watch Brands in the World
In this article, we will cover the top 15 luxury watch brands in the world. This article will cover recent trends in the wristwatch industry and navigate through the contributions of significant players in the industry. If you want to skip our analysis, go directly to the Top 5 Luxury Watch Brands in the World.
Luxury watches have been around for years and happen to stay in demand, despite their unusually high prices. According to a report by Grand View Research, the luxury watch market was valued at $42.21 billion in 2022. The luxury watch market is expected to grow to a valuation of $62.25 billion by 2030 at a compound annual growth rate of 5.0%.
According to the report, the Asia-Pacific region is forecasted to be the largest market for luxury watches by 2030. Europe and North America are expected to be the second and third biggest markets for luxury watches, respectively. Living standards in developed and developing countries have risen, contributing to the growing demand for luxury watches.
How Are Some Companies Outperforming Others?
What are some of the first names that come to your mind when you think about luxury watches? Rolex, Patek Philippe, and A.Lange & Söhne are some of the most popular brands in the luxury watch industry. There are also a range of companies producing luxury watches that are highly prominent in the industry. These include The Swatch Group AG (OTC:SWGAY), Compagnie Financière Richemont SA (OTC:CFRUY), and LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY).
The Swatch Group AG (OTC:SWGAY) is a famous designer, manufacturer, and seller of luxury goods. The Swiss company is the owner of the famous watch brand Omega. In business theoretics, the price elasticity of demand for luxury goods is usually very low. Omega's current status in the market builds on this theory. On July 13, Bloomberg reported that the Swatch Group AG (OTC:SWGAY), the parent company of Omega, experienced a whopping 36% increase in profits for the first half of 2023 and hit a record-breaking revenue of over $4 billion despite rising watch prices. The report suggests that the demand for luxury watches is associated with status and class, indicating a need for companies to establish a consistent brand image and perception of class and luxury.
While making strategic decisions is important and paves the way for success, innovation is crucial to outperforming your competitors. Companies that innovate are the ones that do well in the industry to become market leaders. A.Lange & Söhne is known for making unique luxury watches; the company understands the need to reinvent and reintroduce. On July 13, a leading watch magazine, Robb Report, reported that A.Lange & Söhne, owned by Compagnie Financière Richemont SA (OTC:CFRUY), reintroduced two of its complicated watches, with some changes. The two models, the Lange 1 Time Zone and the 1815 Rattrapante Perpetual Calendar, were launched initially in 2005 and 2013, respectively. The newer version of the Lange 1 Time Zone is considered highly smart for turning red to match the relevant city. It also features a larger dial. The 1815 Rattrapante Perpetual Calendar has a legacy of its own and the newer version has a spectacular salmon dial in a pink-gold color.
Compagnie Financière Richemont SA (OTC:CFRUY), the parent company of the popular Cartier, is the perfect example of how companies may outperform their competitors. On July 28, Bloomberg reported the success of Cartier in the luxury watch industry. The report suggests that the prices for Cartier and Omega have consistently been on the rise, while the prices for Rolex have been declining. The report suggests that the reason for Cartier and Omega's rising demand and prices is the appeal of these watch brands to the young population. Constantly evolving and launching new models keeps the spark alive among the young population, which is Cartier and Omega's preferred route to success.
LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY), is another prominent name in the luxury watch industry and the owner of the popular watch brand Zenith. The works of the watch brand suggest that it is important to engage in crucial partnerships and foster direct contact with customers. On August 24, Forbes reported that Zenith partnered with the Watches of Switzerland to launch a pop-up exhibit for the launch of the pilot watch collection by Zenith. The exhibition has been running since August 8 and will go on until the middle of September. The exhibition is a perfect opportunity for Zenith to celebrate its success by displaying all their historical watches and the models that are sold now.
On August 24, Bloomberg reported that luxury watch giant Rolex acquired one of the biggest watch retailers in the world, Bucherer. The Swiss luxury watch retailer was acquired for $9.2 billion. The move serves as a breakthrough for Rolex, allowing it to control its distribution of watches fully. It is no surprise that this move will allow Rolex to become a global leader in the industry.
With the discussion above, it is to note that these luxury watches are more than just a time-telling tool, in fact, they build on a certain fashion statement. Therefore, if you are looking to build your wardrobe, you can check out some of the top luxury fashion companies. Let's move on to see the top 15 luxury watch brands below.
Our Methodology
Acquiring consistent and accurate data for the world's top 15 luxury watch brands was challenging. For our methodology, we sourced the brand names for the most expensive watches from Chrono 24, an online luxury watch retailer and magazine. We applied filters to the website's shop section to screen for the most expensive watches and sorted them according to price, from high to low. We shortlisted 15 brand names with the most expensive watches using this approach. We then acquired the three most expensive watches for the brand and took an average of the three figures to give us a final metric. Expensive watches tend to have a notoriously high price, and therefore, price proves to be a suitable metric to assess how luxurious a watch brand is. Due to our data constraints, our methodology may not be perfect but can serve as a reasonable approximation.
Top 15 Luxury Watch Brands in the World
15. Louis Moinet
Average Price of 3 Most Expensive Watches: $298,000
Louis Moinet is a Swiss company, specializing in the manufacture of high-end products including watches. Louis Moinet is one of the most luxurious watch brands in the world. Its most expensive model is worth $390,000.
If you are looking to purchase a watch for yourself or a loved one you can check out some of the options offered by The Swatch Group AG (OTC:SWGAY), Compagnie Financière Richemont SA (OTC:CFRUY), and LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY).
14. Omega
Average Price of 3 Most Expensive Watches: $307,000
Omega is owned by the famous Swatch Group AG (OTC:SWGAY). The Omega Speedmaster is one of the most expensive models of the watch brand, with a price tag worth over $481,000. Omega is among the top 15 luxury watch brands in the world.
13. Cartier
Average Price of 3 Most Expensive Watches: $332,000
Cartier is a well-known name in the luxury watch industry and is an all-time celebrity favorite. Cartier is owned by Compagnie Financière Richemont SA (OTC:CFRUY) and is among the biggest luxury watch brands in the world. The Cartier Ballon Bleu 42mm is the most expensive watch produced by the brand. The watch is worth over $701,000.
12. Hublot
Average Price of 3 Most Expensive Watches: $335,000
Hublot is owned by the famous LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY). The most expensive watch by Hublot is the Hublot Big Bang worth over $475,000. The watch brand is one of the most luxurious watch brands in the world.
11. Ulysse Nardin
Average Price of 3 Most Expensive Watches: $382,000
The Ulysse Nardin is owned by the Sowing Group, and is among the top 15 luxury watch brands in the world. The most expensive model offered by the brand holds a price tag of $583,000.
10. Jaquet-Droz
Average Price of 3 Most Expensive Watches: $425,000
The Jaquet-Droz is owned by the Swatch Group AG (OTC:SWGAY). The brand is popular for its designs and therefore stands as the 10th most luxurious watch brand in the world. The most expensive model of the brand is the Tropical Bird Repeater 47MM with a price tag of over $563,000.
9. Greubal Forsey GMT
Average Price of 3 Most Expensive Watches: $457,000
Greubal Forsey GMT is a Swiss company specializing in the production and sale of luxury watches. The most expensive model of the watch brand is the Greubal Forsey GMT- Sport with a price tag worth $565,000.
8. F.P.Journe
Average Price of 3 Most Expensive Watches: $613,000
F.P.Journe is known for its luxuriously designed watch brands. The watch brand is also among the most luxurious brands in the world. The most expensive model of the brand is the F.P.Journe Souveraine worth $700,00.
7. A. Lange & Söhne
Average Price of 3 Most Expensive Watches: $620,000
A. Lange & Söhne is owned by Compagnie Financière Richemont SA (OTC:CFRUY). The most expensive model of the watch brand is the A. Lange & Söhne Zeitwerk and is worth over $774,000. The watch brand is known to own some of the most luxurious watches in the world.
6. Jacob & Co.
Average Price of 3 Most Expensive Watches: $980,000
Jacob & Co. stands as the 6th biggest luxury watch brand in the world. The company owns watches that are extremely high priced, giving away the perfect perception of being a luxury brand. The most expensive model of the watch brand is worth over $1.2 million.
Some world-renowned watch companies that dominate the industry even today include The Swatch Group AG (OTC:SWGAY), Compagnie Financière Richemont SA (OTC:CFRUY), and LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY).
Click to continue reading and see the Top 5 Luxury Watch Brands in the World.
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Disclosure: None. Top 15 Luxury Watch Brands in the World is originally published on Insider Monkey.
