Timely adjustment

The luxury watch landscape has fundamentally shifted. Between 2019 and 2025, Swiss watch prices rose 14% while volumes fell 7%, signaling a move toward price-driven growth a report by Morgan Stanley shows. Rolex, holding a 32% global market share, has transitioned from biennial adjustments to a frequent annual cycle, recently implementing a 7% US price hike in January 2026. This increase is largely defensive, aimed at protecting margins against a 70% surge in gold prices and a strengthening Swiss franc. While Rolex continues to demonstrate superior value retention, its disciplined pricing narrows the gap for competitors, making further aggressive hikes difficult for the broader industry. Consequently, 2026 is expected to favor volume-driven growth over additional price increases.

Source: Copyright 2026 Morgan Stanley, WatchCharts, January 2026.