In 2025, Rolex came out on top. The Crown led the luxury-watch pack last year, driving its sales up 4 percent to surpass CHF 11 billion (around $14 billion) in a first for the brand, according to Morgan Stanley and LuxeConsult’s annual Swiss Watcher report. That’s in spite of the fact that Rolex actually brought less watches to market in 2025, amounting to a 2 percent decline—the second year in a row that the watchmaker has placed less timepieces in the hands of retailers, a repetition that hasn’t happened in over 20 years, Hodinkee reported. What may be even more noteworthy is that Rolex is responsible for about 33 percent of the Swiss watch industry’s entire sales for 2025, Morgan Stanley says, selling around one million timepieces in that period. (Rolex did not respond to Hodinkee’s request for comment on the report.) And though the Crown had far and away the most impressive figures, other watchmakers had plenty of celebrate at..
