Other Swiss watch brands mimic Rolex, making higher quality models as the coronavirus pandemic stokes interest in luxury watches
- The Covid-19 pandemic drove a luxury watch boom as collectors stuck at home bought high-end models online. Rolex saw sales of its priciest watches rise
- This inspired other Swiss brands to launch more expensive models made with premium materials and intricate time complications, as the mid-range market shrinks
Consumers driving the biggest boom in mechanical watches in decades are seeking out more expensive timepieces, and from entry-level marques to the most exclusive independents. Swiss manufacturers are happy to oblige.
Take Oris Watches, a brand known for its affordable diving watches. The move to higher quality models has pushed the average selling price from 2,000 Swiss francs (US$2,040) to about 2,400 francs in three years, according to co-CEO Rolf Studer.
That has emboldened the company to make more watches with in-house-developed movements, such as its ProPilot X Calibre 400 featuring a titanium case and bracelet that sells for 3,900 Swiss francs.
“It’s the upper end that is thriving,” said Studer. “People know more, they demand more and they are ready to spend money on a higher level of watch.”
