That shift is impacting corporate groups like Swatch Group AG, particularly, as the company and its key brands, including Omega and Longines, are losing market share, according to the report. Omega slipped from the third-ranked brand by sales to fifth as Audemars Piguet and Patek Philippe moved up the rankings, and Longines fell out of the so-called ‘Billionaires Club,’ with sales falling 18% to about CHF 920 million, according to the report.
Swatch Group, however, disputes the estimates in the Morgan Stanley LuxeConsult report, which a company spokesperson says contains “wrong estimations, assumptions, data, figures, and statements.”
“They obviously do not know the watch market and the different brands,” the company spokesperson says. Swatch Group says it outpaced Swiss watch export figures in 2025, down 1.3% by value compared to the overall market decline of 1.7%. The company says sales grew 4.7% at constant currency exchange rates in the second half of the year.
