In just over a decade, Tudor has gone from being a confidential brand to a watchmaking phenomenon. But how far will the meteoric rise of Rolex's little sister go? An analysis of Tudor's ambitions and potential in the face of the industry giants.
Tudor's spectacular metamorphosis
2012 marked a turning point in Tudor's history with the launch of the Black Bay. This retro-style diving watch marked the beginning of a renaissance for the brand, which had until then been considered secondary in the world of luxury watchmaking.
Key milestones in Tudorโs transformation:โ 2012: Launch of the iconic Black Bayโ 2016: Start of production of in-house movements with Kenissiโ 2021: Opening of the first factory entirely dedicated to Tudorโ 2024: Sponsorship of a Formula 1 team
In the space of 12 years, Tudor has gone from a discreet brand to a key player in luxury watchmaking, capable of competing with established houses such as TAG Heuer, Breitling and Longines.
Tudor in figures: impressive growth
Tudor's recent performances are testament to his meteoric rise:
โ Compound annual growth rate of 23% between 2019 and 2023โ 2023 revenue: 625 million Swiss francs (according to Bloomberg)โ 255,000 watches sold in 2023โ Average price of a Tudor watch: 3,096 Swiss francs in 2023
Despite a slight drop in sales of 4% in 2023, Tudor remains one of the most dynamic watch brands on the market.
Tudor faces the giants of industry
While the excitement surrounding Tudor is undeniable, the brand is still far from the performance of the sector leaders:
โ Omega: 570,000 watches sold in 2023, average price of 6,573 Swiss francsโ TAG Heuer: 390,000 watches sold, average price of 2,228 Swiss francsโ Longines: 1.6 million watches sold, average price of 1,062 Swiss francs
Tudor currently ranks 17th among Swiss watch brands in terms of sales. Its turnover represents only 5% of that of Rolex.
Tudor's upmarket strategy
To continue its progress, Tudor is relying on several levers:
โ Price increase: +5% on average in 2024โ Development of more complex high-end modelsโ Aggressive marketing and prestigious partnerships (F1, Americaโs Cup)โ Focus on sports watches, the most promising segment of the market
The objective seems clear: to gradually move closer to the positioning of Omega, or even Rolex in the long term.
Tudor, the new benchmark for affordable luxury watches?
Tudor could well become what Rolex once was: the ultimate maker of high-end tool watches. Several assets work in its favor:
โ A young and dynamic image that appeals to new generationsโ A shared heritage with Rolex that gives it legitimacyโ Iconic models like the Black Bay and the Pelagosโ A balance between one-off hype and lasting appeal
Tudor's Future: Between Ambition and Realism
While Tudor has experienced exceptional growth in recent years, the brand now faces several challenges:
โ Maintain its momentum in a slowing watch marketโ Find the right balance between exclusivity and production volumeโ Definitively get rid of the image of โpoor manโs Rolexโโ Continue to innovate while remaining faithful to its DNA
Possible scenarios for Tudor's future:โ Compete directly with Omega in the luxury sports watch segmentโ Fill the gap left by Rolex in its rise to the very high endโ Become the benchmark for affordable luxury watches for a new generation of enthusiasts
Whatever its future, Tudor has already successfully transformed itself from the Cinderella of watchmaking into a serious contender for the throne. It remains to be seen whether the brand will be able to hold on to its crown in the long term.
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