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Raymond Weil CEO Elie Bernheim says the independent Swiss watchmaker is growing while some larger brands struggle. His explanation is a strategy of staying in its established price tier, broadening its collections and markets, and keeping the business profitable. That is a management account of the company’s position—not proof of a turnaround in audited results. The industry backdrop is clearer: Swiss watch exports fell in 2025 and slipped again in the first half of 2026.
What is Raymond Weil’s strategy?
In an October 2, 2026 interview with Luc Wiesman for DMARGE, Bernheim described the strategy as accepting the brand’s place in the market rather than trying to imitate more expensive watchmakers. “We are who we are,” he said. “I do not pretend to be who I’m not.” He argues that keeping this identity consistent through both stronger and weaker periods has helped Raymond Weil appeal to customers and retailers looking for value.
Bernheim’s headline assessment was: “Big names are in trouble or difficulties, and we are growing.” The statement is useful as a description of management’s view, but the interview does not supply audited company accounts or a like-for-like financial comparison with larger brands. It should not be read as independently verified proof that Raymond Weil has outperformed the luxury-watch market.
Staying within a defined price tier
Bernheim puts Raymond Weil’s market at US$1,000–4,000, with its business core at US$1,500–3,000. He says watches above US$5,000 are “out of our galaxy.” His argument is that the company did not push prices up during the boom and then reverse course when demand weakened: “We did not go up when the economy was booming, and then suddenly change direction to something more affordable because things were negative.”
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These are the CEO’s stated ranges, not a verified global price list. Le Temps described Raymond Weil in 2024 as active in a CHF 1,000–5,000 segment. The currencies, dates and pricing measures differ, so those ranges should not be combined as if they were directly comparable.
Broadening the collection
Bernheim says the pandemic prompted him to rethink the company’s collection development and its dependence on a small number of markets. The Millésime was the first watch to emerge from that reset, with an aim of attracting watch enthusiasts. In a 2025 WatchTime India interview, Bernheim described it as a complement to the Freelancer, which had long been the brand’s flagship: the two collections were intended to appeal to different consumer profiles.
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The product strategy is not simply to add another range. It gives the brand a second collection with a distinct role while retaining the Freelancer. A 2026 Hodinkee feature also discusses Raymond Weil’s continued value positioning as much of the market moves upscale. Neither the existence of the Millésime nor its intended audience, by itself, establishes how much it has contributed to company sales.
Seeking more geographic balance
Bernheim says the United States and United Kingdom once represented half of turnover, and that the company wanted to build a more worldwide brand. He also says China represented less than 1% of Raymond Weil’s turnover, limiting its direct exposure when that market declined. He describes Japan as opening up after the launch of a 35mm Millésime and says Southeast Asia improved.
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These are company claims reported in the DMARGE interview, not independently audited regional sales figures. A 2025 Bilanz profile also reported growth in France, Italy, Japan, Korea and Taiwan, and said Bernheim reported growth in each year from 2021 through 2024. That account adds historical context but does not provide an audited geographic breakdown.
Keeping distribution selective and the business profitable
Bernheim’s account connects the product and market choices to retail relevance: he says retailers have shown more interest in a good entry-level brand as consumers place greater weight on value. In a 2021 Hodinkee interview, he had already discussed making distribution more selective and developing more sophisticated watches while maintaining accessible prices.
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He also says Raymond Weil is profitable and presents profitability as a reason the company remains independent. Bilanz reported a CHF 65 million revenue estimate attributed to Morgan Stanley and LuxeConsult; that is a third-party estimate, not company-disclosed audited revenue. The available figures do not support a precise comparison of Raymond Weil’s profitability or growth with those of larger brands.
How severe is the Swiss watch downturn?
Federation of the Swiss Watch Industry FH export statistics show a second consecutive annual decline in 2025, followed by a smaller year-over-year fall in the first half of 2026. These figures describe Swiss watch exports, not sales to end customers, and they cannot establish the performance of an individual company such as Raymond Weil.
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| Measure | Reported result | What it measures |
|---|---|---|
| Swiss watch exports, 2025 | Down 1.7% year over year to CHF 25.6 billion | Export value; FH reported the second consecutive annual decline. |
| Swiss watch export volume, 2025 | Down 4.8% to 14.6 million watches | Number of watches exported. |
| Export-price segments, 2025 | CHF 500–3,000 stable; below CHF 500 down 4.5%; above CHF 3,000 down 1.9% | FH export-price categories, not retail price bands that map directly to Raymond Weil’s stated ranges. |
| Swiss watch exports, first half of 2026 | Down 0.7% year over year to CHF 12.8 billion | Export value compared with the first half of 2025. |
| CHF 500–3,000 export-price segment, first half of 2026 | Down 5.7% | Export-price category; not a direct measure of Raymond Weil’s retail sales. |
The FH described 2026 as likely to be relatively stable compared with 2025, while noting high uncertainty. The export data establish that the industry faced pressure; they do not show whether consumers bought fewer watches from every brand, or whether Raymond Weil gained or lost market share.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the evidence can—and cannot—show
The case for Bernheim’s strategy is coherent: preserve a recognizable value-oriented price position, give the range another collection aimed at enthusiasts, and reduce reliance on a narrow set of markets. It is also consistent with his earlier comments about selective distribution and accessible pricing. But the available reporting does not provide audited brand-level sales, market-share data, or a comparable set of financial results for Raymond Weil and its larger competitors.
- Supported by industry data: Swiss watch exports declined in 2025 and again in the first half of 2026.
- Reported by management: Raymond Weil is growing, profitable, has low China exposure, and is seeing stronger retailer interest.
- Reported as an outside estimate: Bilanz’s CHF 65 million revenue figure, attributed to Morgan Stanley and LuxeConsult, is not audited company disclosure.
- Not established by these sources: that Raymond Weil has definitively beaten comparable brands, or that the Millésime caused the reported growth.
For a buyer, the Millésime is relevant as a watch collection with a strategic role in Raymond Weil’s lineup—not as evidence that the business has cracked the downturn. Its appeal should be judged on the particular model, price and features under consideration.
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