Why Cartier is the new top 2 in watch sales
Fernando AldeaWe explore Cartier's impressive rise to second place in global watch sales in 2023, and how its strategies and collections confirm that Cartier is the leader in the luxury market, now more than ever.
The watchmaking scene
2023 was a year in which Cartier's brilliance shone with special force, 365 days of resounding success that allowed it to rise to the second rung of the global watchmaking industry. The Maison, with all its elegance and sophistication, left Omega in the dust and began to nip at Rolex's heels. With an estimated 8% increase in sales (3.1 billion Swiss francs in total sales), Cartier firmly positioned itself as a watchmaking powerhouse, revealing a dynamic shift in the balance of power within this highly competitive industry.
This rise wasn't a stroke of luck, but rather the result of astute strategies, combined with a product catalog that appeals to everyone, or almost everyone, worldwide. Cartier, synonymous with luxury and distinction, has extended its influence in recent years beyond the beautiful jewelry it produces to dominate the realm of luxury watches, setting trends and raising the bar.
To understand what this means, one must look at the watch industry landscape in 2023, where Cartier, along with a few other brands, has taken a significant slice of the market (Rolex, Omega, and Cartier account for almost half of total sales), demonstrating a trend toward "premiumization." The consistent conclusion is that people prefer what's good and familiar, and what's being added to these today is the quality, design, and history of each brand.
Success strategies
Cartier's rise in the rankings in 2023 wasn't a mere coincidence. Behind this meteoric rise lay a series of masterstrokes. The Parisian house crafted its pieces with strategies that blended innovation and tradition in equal measure. On the one hand, it focused on strengthening its identity through iconic designs that speak to both long-time and new fans of the brand, seeking a balance between the classic and the contemporary.
The launch of collections that revisit Cartier's historic legacy, integrating cutting-edge technology, made a difference. This revamped catalog, while maintaining the brand's timeless essence, captivated the entire world in 2023. Furthermore, Cartier intensified its digital presence, connecting with a broader, more diverse audience (three out of four Cartier watch buyers are women), demonstrating a remarkable ability to adapt to changing times and anticipate trends.
Cartier has also managed to navigate the international market, expanding its influence in strategic regions and strengthening its network of boutiques and retailers. This global approach, coupled with marketing campaigns that highlight its tremendous heritage and exclusivity, has cemented Cartier's position as a solid name, a symbol of success in the watchmaking industry.
Market comparison
2023 brought surprises and important changes to fine watchmaking. Cartier, our subject of study, stood out not only for its sales growth but also for how it compared to other top brands. Rolex, despite holding the "crown" in terms of revenue (note the analogy), felt Cartier breathing down its neck ever closer—yes, not that close, but closer.
Omega, Rolex's direct rival, was once again overtaken by Cartier, a move that disrupted the industry's usual hierarchy. This shift signals an interesting trend: as we mentioned before, the market is rewarding innovation, history, and luxury, factors in which Cartier has invested heavily and, consequently, obtained very positive results. Patek Philippe and Audemars Piguet, although with lower sales volumes, continue to dominate the ultra-luxury segment, demonstrating that exclusivity and tradition still hold significant weight in consumer preferences.
Market dynamics reveal a tendency toward the "premium," as we mentioned above, with buyers willing to invest in pieces that offer three things in abundance: name, quality, and design. Cartier has understood and capitalized on this trend, positioning itself as a sales leader and with the power to define the future direction of the luxury watch market.
Innovation and leadership
In 2023, Cartier demonstrated its mastery in blending tradition and innovation, as previously mentioned. An example of this was the launch of the Santos-Dumont Skeleton. This piece, a tribute to the famous aviator Alberto Santos-Dumont, is distinguished by its skeletonized dial, through which a micro-rotor with a scale model of the Brazilian pilot's plane can be seen. Cartier's skill is manifested in this watch. Whether in yellow gold (limited edition), rose gold, or steel, the Santos-Dumont fuses the traditional design codes of Santos with unparalleled modern craftsmanship and handling of materials.
The revamped Tank Must line also captured the attention at Watches & Wonders 2021, especially with its solar-powered version, standing out in the growing landscape of "eco" watches. This evolution—clearly a positive shift toward much-needed sustainability—reflects Cartier's adaptability to current market demands while maintaining its classic essence.
However, when discussing these innovations, it's important to remember that, beyond the glitz and prestige, Cartier, like any other brand, faces the challenge of staying relevant in a constantly changing market. Its advancements are impressive, but they are part of a broader strategy across the entire watch industry. Cartier is setting trends, yes, but in a field where competition never sleeps and innovation is the currency.
Defining the future
Last year was the year Cartier reaffirmed its market position, the moment its influence was deeply felt throughout the watch industry. The House, with its flair for blending science and art, didn't just sell a lot of watches; it sold a vision, a lifestyle that resonated globally. Cartier, by rising to second place in sales, demonstrated its tremendous commercial power and influenced the aesthetic and technical direction of the watch industry. Its success was reflected in how other brands began to evaluate and, in some cases, rethink their own design and marketing strategies, such as the revaluation of the dress watch and the return to glamour and style.
Beyond the numbers and collections, Cartier has strengthened its brand narrative, its story, connecting with an audience that values tradition while still demanding innovation and the ethical values of the present. We are confident that this approach will allow Cartier to continue to lead in sales and influence, continue to set trends and establish industry standards in the immediate future.
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