The Swiss watch industry has shown remarkable changes since 2017, with the number of brands exceeding $1 billion in annual retail sales increasing from five to eight. This shift reflects a broader trend of market concentration, where leading brands like Rolex and Omega are gaining further prominence, while maintaining high prices despite an overall industry slowdown. Influencers in the market, such as Oliver R. Muller and Charles Tian, point out that inflation and increased operational costs have prompted brands to raise their prices, thereby expanding their sales figures to meet evolving market conditions.
In 2017, only five Swiss watch brands surpassed $1 billion in retail sales. By today, three more brands have joined this elite club, indicating market concentration.
The big brands in the Swiss watch industry are growing larger and their products are becoming more expensive, even amid a general slowdown in the industry.
Inflation significantly impacts retail prices, with a billion dollars in sales in 2017 differing greatly from those figures today due to nearly 30% inflation.
The Swiss watch trade is seeing fewer brands scaling effectively, highlighting a market trend toward consolidation among leading luxury watch manufacturers.
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