Anyone else interested in the Morgan Stanley report?

I assume the ranking is based on revenue by calendar year?

No it's in a random alphabetical order.

👏 good on ya. Seems delayed if looking at Swatch jump in 2023 as the moonswatch was earlier 2022. Also Tag have got their act together more lately but dropped down the list and where has Hermes come from?

Looking at Vacheron, as mere mortals we're probably only thinking about the 56, Patrimony and Overseas. Occasionally we remember they also have the 222. But on top of that there's a whole other world of boutique that we forget about, their limited editions, Métiers d'Art or the bespoke "Les Cabinotiers". They probably don't have to sell a great number of those, and after their 57260 gave their PR a boost I'm sure those with coin are looking at the Trinity etc for statement pieces rather than tatty diamond Rolex.

It's Swiss watch industry only. So, I am not interested.

How did swatch make the list over tudor?

Wild to me that TAG, Panerai, and especially Swatch are that low. I assume this is profits and not units sold?

Sold a whole bunch of moonswatches I guess

I'm not trying to be whatever, but does Richard Mille really move that many pieces??? It's way above our niche of $500-$1500 that we cover, so if anyone could shed some light, id be super interested.

But how do AP, PP, RM, and VC, generate the kind of revenue to be that high in the list? Specifically since the entry point is so high for those brands?

Because the entry point is so high for those brands. It takes a lot of volume at $5,000 to add up to one at $150K, and a lot Patek’s, AP’s, and Richard Mille’s are in the six figure range.

Would you like to order a side of fries to go with that sass?

Yeah mike would be the perfect person to talk about this. The reason Patek and AP are up there is the insane retail prices they fetch. this is based on RRP sales to either ADs or to the boutiques. Supposedly they are pretty accurate. It's hard to believe that Cartier surpassed Omega two years ago and is still in "2nd place" How about the jump Tissot made because of the PRX and Swatch for obvious reason...

I'm surprised at Tudor's position. You'd think it would be way higher as they must sell a lot of BBs, Rangers, etc around the world.

TAG dropping that far is a bit of a surprise. Didn't think handing the reigns to one of the Arnault kiddies would result in such a fall.

Richard Mille comes above Longines because they sold 12 watches.

Ok i am not good in math but wouldnt it be a more reliable metric if they did a percent value of each company's units sold compared to their units produced for that year- i mean if that data is available.

For example rolex produced 50,000 watches and sold 50,000 units = 100%

Etc.

This list makes perfect sense. Just think about it. How many basic Swatches do you have to sell for the price of ONE RM!?

Tudor sells well, but the price is lower.

Tissot and TAG Heuer sell a sh#t ton of watches for the general public.

The holy trinity doesn't sell many units, but the price of them equals more revenue than million prx's.

I think it just shows that watch enthusiasts who use social media are only a small part of the bigger picture. It certainly gained some hype and traction since the launch of bb58. However, most people outside the circle may not have heard of this brand still. The drop in place last year is also interesting, as it coincides with the Rolex bubble burst. This likely has to do with bundling in Asia, China in particular, where people would be forced to buy 10 watched they don't want at full price to be relocated a Rolex. These watches are then sold to gray dealers at a substantial discount. The brand image there really took a hit, and it doesn't get as much respect as here in the west.

Yes I was surprised about Cartier. It's like they only sell the Tank and the Santos 😀. Maybe filthy rich people who are not into watches by Cartier and they make big margins on them.

Supersize me, bro!

This is based on the value of each brand’s export value as reported to the Swiss government. So it’s from government financial records.

The number of units sold is extrapolated based on the export value divided by the estimated price per watch.