According to retail analyst NPD, which tracks point of sale transactions from hundreds of independent and retail groups across the United States, Sales of Rolex watches in the 12 months to June this year reached $1.5 billion
Luxury brand Rolex is seeing a spike in sales and increased demand for their luxury brand of watches.
As per WatchPro magazine, Rolex is not the only brand benefiting from a surge of sales in prestige watches this year.
“The $10,000 to $25,000 price band is up by 17%. When you get above $25,000, the growth is up 20%. That is amazing to see. As you go up the food chain it gets better and better,” Reginald Brack, executive director, industry analyst — watches and luxury — for NPD, told Watchpro.
“Rolex annual sales alone are up at almost $1.5 billion in the United States,” Mr Brack reveals in an interview that will appear in the launch edition of WatchPro magazine for the United States in December.
Patek Philippe along with Rolex accounts for 70% of all watches sold above a price of $5000, Mr Brack says. “If you are any other brand, you are either working to take some of that share back from Rolex and Patek Philippe or you are fighting over the remaining 30%.”
Amongst luxury brands, Cartier is another key one to watch, particularly its women’s watches, according to NPD. “Women’s models are growing, especially at higher price points where growth is in the double digits,” he tells Watchpro.
“People are starting to realize that they can get a brand new Cartier from a store for under $3000. They have so many popular models now that are under $5000. If you go up through all the price bands [for women’s models], it is number one in everyone right up to $25,000+,” Mr Brack discloses.
