The luxury watch industry is on a sticky wicket. After two years of stupendous global sales growth backed by post-COVID revenge shopping, the industry fell back a bit last year — approximately 3% by sales revenue and almost 10% by units sold. Clearly, brands are selling more expensive products and increasing prices.
Watch prices over the past three years have outperformed even some of the stock markets. Now that premiums have corrected to some extent from the post pandemic highs, the key concerns facing the industry remain: a persistently strong Swiss franc, and President Trump’s sudden announcement (during the fair) to raise tariffs to 31% on Swiss import — sending the luxury sector into a tizzy. The US has not only been the biggest market for luxury watches, it has also delivered excellent growth over the past three years.
No wonder, the industry is worried. Oyster Perpetual Datejust 31 | Photo Credit: Special Arrangement As a luxury watch enthusiast, I was curious to see if there were price corrections and more accessible offerings at Watches and Wonders 2025 to propel the industry back into the growth orbit. Instead, I witnessed just the opposite.
Brands have chosen even more precious, expensive, and exclusive routes. More gold and precious metals. More high jewellery paired with fine watchmaking.
Another trend I observed was the increased use of colour and art on dials. The dominant case size remained around 38-40 mm dials, a trend we have been witnessing since 202.