Latest Morgan Stanley report on the swiss industru

So… what do you guys think?
If you’re not Rolex, RM, PP, AP, 2024 was a bad year.
Volumes down almost across the board, so let’s focus on rank changes.
Based on rank – good year for Chanel, Hermes, Bulgari and Tag (not counting the big 4 above).
Bad year for JLC, IWC, and pretty bad for Tudor.

Do you even care? For me business dynamics are also quite interesting.

Via monochrome

Image

Continue reading