Rolf Studer, CEO of Oris: “The strengthening of the Swiss franc is putting further pressure on prices”

In a watch market that is losing momentum and increasingly dominated by the ultra-luxury segment, what remains for independent brands positioned at “accessible” price points? Oris is among the few watch brands that remain fully independent. Until very recently led by a dual-leadership structure headed by Rolf Studer and Claudine Gertiser, the company announced on April 7 the appointment of Rolf Studer as the only CEO and Claudine Gertiser as Vice Chair of the Board of Directors. Since 1982, the brand has cultivated this independence as a true strategic pillar. With over 200 employees, it relies on a high degree of freedom and a so-called “accessible” positioning, which appeals particularly to the middle class.

This year, Oris has made a name for itself among vintage watch enthusiasts with the launch of its Big Crown Pointer Data Bullseye, a 1970s-inspired reinterpretation priced at under 2,000 euros (1,950 euros). With revenue estimated at 52 million Swiss francs in 2025 by Morgan Stanley, it ranks among the world’s top fifty watch brands, in forty-fifth place. While it stands out for its sales volume—approximately 34,000 pieces sold, surpassing other independent brands such as Nomos Glashütte—its positioning (average retail price of 2,296 francs) and heavy reliance on wholesale (85%) weigh on its ability to generate value, causing it to drop two spots in the rankings over the course of a year.

In a market increasingly polarized toward the very high end, what are the challenges and risks for an independent brand like Oris? A few weeks before the opening of Watches and Wonders Geneva, where the brand is unveiling new variations of the Artelier and Star collections, Rolf Studer discusses with Luxury Tribune the challenges facing a struggling segment.

The Swiss watch market is going through a slowdown. What is the biggest challenge for an independent brand like Oris?

The context is particularly uncertain. The geopolitical situation, particularly in the Middle East, is weighing on global confidence, and China has not yet returned to expected levels. While markets such as the United States, Mexico, and India remain dynamic, the general sentiment remains cautious. This unpredictability is undoubtedly the major challenge today.

What does this independence mean in concrete terms within your organization?

At Oris, independence is part of our identity and our way of working. For years, large conglomerates have acquired numerous watch brands, and we too have received approaches. For us, being independent is also a matter of attitude: the freedom to think, act, and take responsibility. We want everyone within the company to be able to be themselves and contribute to building the brand’s future. Today, around 200 people work at our headquarters, and this collective spirit is essential to our growth.

Speaking of which, how are your main markets evolving?

The United States accounts for about 25% of our business and remains very strong. The Middle East accounts for about 10%, but the current situation there is causing instability. Conversely, India is a very promising market: we waited a long time to see real growth there, but we are now pleased with its progress. Our positioning—affordable Swiss mechanical watches with a modern image—resonates particularly well there.

The segment above 20,000 CHF currently accounts for a large portion of the market’s value. How does Oris manage to create value with a more accessible offering?

This is a trend that could become problematic for the entire industry. If the Swiss watch industry focuses solely on the very high end, it risks losing its industrial base, particularly an entire ecosystem of specialized suppliers. It is essential to continue appealing to a broader audience and not just the “happy few.” At Oris, we advocate for a positioning based on value for money. We need to create desire around our products, because no one really needs a mechanical watch for 2,500 francs. This means telling stories and offering real added value. In a way, convincing a customer in this price range can be even more challenging than in the ultra-luxury segment.

In this context, is price pressure a major issue?

Absolutely. The strengthening of the Swiss franc is making the situation much more complicated. We cannot adjust our prices as quickly as exchange rate fluctuations occur. For example, in the United States, we raised our prices by 13% last year, which simply offset the currency effect. We need to find a balance