Who Topped the 2025 Vogue Business Watch Index?

2025 has painted a daunting picture for the luxury watch industry. Swiss export growth is flat (-0.1% in H1 2025), raw material prices are soaring to record levels, and Swiss import tariffs from the US are threatening anticipated growth. At the same time, 36% of luxury watch consumers are concerned about the cost of living and inflation, meaning a high-spending audience may well be deterred by rising prices, while aspirational customers could be shut out of the market entirely.

For now, watch consumers appear resilient. Average purchase intent increased by 2 percentage points over the past year, driven largely by Audemars Piguet, Cartier and Zenith. Perceptions of brand heritage and design have increased in line with purchase intent, suggesting that perceived value is driving demand rather than cost itself.

While the watch industry continues to shapeshift, its top three brands — Cartier, Omega and Rolex — remain resilient, bolstered by strong brand awareness and perceptions of quality. Tag Heuer entered the top five for the first time, rising to fourth place, as its strategy — focused on markets beyond China — began to bear fruit across both marketing performance and consumer perception. Tag Heuer’s rise saw Longines drop to fourth position, while Chopard, previously ranked fifth, fell to eighth.

But how did they get there? Now in its second year, our ranking of the top 20 watch brands analyzes marketing strategy, purchase intent and technological advancements. Read the top five breakdown below.

Top five watch brands

Richemont

Rank change: -

• Cartier continues to lead the Watch Index, supported by a robust score across all digital channels. However, the brand is losing steam on TikTok as IWC takes the platform’s top spot.
• Cartier is the second most-purchased brand over the past year after Rolex. It’s also the brand that female watch enthusiasts are most likely to purchase.

The Swatch Group

Rank change: -

• Holding steady in second position, Omega ranks as the second strongest brand in digital performance and the third in consumer sentiment.
• After a sports-driven 2024, the brand shifted toward a more culture-focused strategy, featuring ambassadors such as actor Aaron Taylor-Johnson, Grammy Award-winning artist Tems and K-pop star Danielle Marsh.

Rolex SA

Rank change: -

• Coming in at third place, Rolex’s excellent consumer reputation is offset by its lower scores in innovation, where it scores only for its collaboration strategy and certified pre-owned scheme.
• Topping the consumer sentiment ranking with 98% awareness, the brand remains synonymous with luxury. It’s also the brand consumers are most likely to purchase in the coming year.

LVMH

Rank change: +3

• Tag Heuer broke into the top five this year, climbing three positions to fourth place. After slower growth in China, the brand has shifted its focus to other markets — a strategy showing results, with sales up 4% in France and 2% in Italy and Germany.
• Activations with Formula One and a focus on younger ambassadors have also driven strong digital gains across Western social media platforms.

The Swatch Group

Rank change: -1

• Longines slipped one place to fifth position, as Tag Heuer climbed the ranks. Gains in purchase intent have been offset by declines in quality metrics, including its in-store and digital experience.
• While the brand’s focus on TikTok is paying off, it has come at the expense of its previously strong performance on Facebook, YouTube and Bytedance, lowering its overall digital marketing score.

Battle of the watch brands

Each of the 20 brands in the Vogue Business Watch Index is ranked based on its performance across three core business areas: innovation, digital marketing and consumer sentiment. We reveal how the top five watch players score in each category.

The sentiment pillar measures a brand’s impact on consumers — from perceived quality and brand association to how likely consumers are to purchase from a brand. Read more here.

Digital marketing is an increasingly competitive field. This pillar tracks performance across Western social media platforms (Facebook, Instagram, TikTok and YouTube) and Chinese social media platforms (WeChat, Weibo, Xiaohongshu and Douyin). Read more here.

The innovation pillar tracks progress across connected watches, digital product passports and branded experiences. This year’s results show brands are investing in innovation to drive sales. Read more here.

How we do it

Twenty brands are assessed for the Vogue Business Watch Index, with brand performance evaluated against over 100 data points spanning consumer sentiment, digital marketing and innovation.

The weightings of each assessment category and their metrics are determined by industry relevance and importance to the consumer, allowing for an objective assessment of a brand’s performance. The final weighting for each category is agreed upon following a review process with our data analysts and expert editors.

Consumer research remains fundamental to the Vogue Business Watch Index, with readers across several Condé Nast titles — including Vogue, GQ, Vanity Fair and Condé Nast Traveler — participating in an annual consumer sentiment survey that ensures granularity is achieved when it comes to understanding awareness, customer challenges and brand perception.

Future iterations of the Vogue Business Watch Index will continue to maximize the brands, metrics and digital platforms assessed, with additions prioritized in line with industry needs and developments.

Want to read more?

The Vogue Business Watch Index is exclusively available to Members. Become a Vogue Business Member to get access to exclusive industry insights, CEO interviews, in-depth fashion month analysis and much more.

You can download a free excerpt of the Vogue Business Watch Index here.