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The watch dynasty primed for the billion-dollar club

The watch dynasty primed for the billion-dollar club

Richard Mille is set for a new era in the hands of the next generation, and you can expect the impact to reach our shores. From the upcoming summer issue – plus watch special – out on December 8.

If Richard Mille is the brand you won’t miss on anyone’s wrist thanks to its resolutely flamboyant styling, it’s also the brand that has the highest entry price (average 261,000 Swiss francs, or $454,695) and the greatest growth in sales in recent times (more than 487 million Swiss francs last year).

Although Rolex might dominate the market in sales and reputation, its revenue growing by more than 50 per cent in the past few years, Richard Mille’s revenue has grown by 250 per cent. Morgan Stanley predicts it’s the next brand to join the likes of Rolex, Patek, AP, Cartier, Omega and Longines in the billion-dollar club. This for a company that makes a mere 5000 watches a year.

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Bani McSpedden
Bani McSpeddenWatch editorBani McSpedden is watch editor of The Australian Financial Review. Connect with Bani on Twitter. Email Bani at bani@bigpond.com.au

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Original URL: https://www.afr.com/life-and-luxury/fashion-and-style/the-watch-dynasty-primed-for-the-billion-dollar-club-20231016-p5ecqp