Citizen and Seiko Break EUR 1 Billion Barrier in 2025
Japanese Giants Citizen and Seiko Both Cross EUR 1 Billion Revenue Milestone
In a landmark achievement for the Japanese watch industry, both Citizen Watch Co. and Seiko Group Corporation have reported their watch divisions surpassing the EUR 1 billion revenue threshold in 2025. This milestone places them among an elite group of global watchmakers, outperforming most Swiss and European competitors in terms of scale.
Revenue Comparison: Japanese Watch Giants
| Company | Watch Division Revenue | Growth (YoY) | Key Markets |
|---|---|---|---|
| Seiko Group Corporation | JPY 203 billion (EUR 1.1B) | +27% | Japan, USA, Europe |
| Citizen Watch Co. | JPY 197 billion (EUR 1.07B) | +10% | Japan, North America, Europe |
Seiko Group: Impressive 27% Growth
Seiko Group's watch division, which includes Grand Seiko, Credor, King Seiko, Seiko Prospex, Seiko Astron, Seiko Presage, and Seiko 5 Sports, achieved remarkable growth of 27% over the fiscal year ending March 31, 2026. This growth occurred while Swiss watch exports declined 1.7% in 2025.
Key growth drivers for Seiko include:
- Domestic market: Strong sales benefiting from low yen and tourism demand
- US market: Significant growth for both Grand Seiko and Seiko Global Brands
- Europe: Grand Seiko maintained flat performance while Seiko Global Brands performed well
Seiko Group's mid- to long-term goal is for Grand Seiko to achieve a "top-10 position among global luxury watch brands," while Seiko Global Brands aims to "achieve a leading share in the global mid-priced watch segment."
Citizen: Strong Profitability Growth
Citizen Watch Co., home to Citizen and Bulova brands, reported a 10% increase in watch division revenue with an even more impressive 38% increase in operating profit. The company noted:
- Japan: Recovering domestic demand offset declines in tourist sales
- North America: Bulova remained strong on its core market
- Europe: Mechanical watches remained popular, with steady performance in Italy and France
Context in the Global Market
When compared to Swiss competitors, Citizen and Seiko's EUR 1 billion+ revenues place them among the top tier of global watchmakers. According to estimates from Vontobel and Morgan Stanley/LuxeConsult, only a handful of Swiss brands achieve similar scale, including Rolex, Cartier, Omega, Patek Philippe, Audemars Piguet, Richard Mille, Longines, and Vacheron Constantin.
Frequently Asked Questions
Q: How do Citizen and Seiko compare to Swiss luxury brands?
A: While Citizen and Seiko achieve similar revenue levels to top Swiss brands, their sales are driven by volume rather than unit price, as they compete primarily in the mid-range segment.
Q: What are Seiko's plans for Grand Seiko?
A: Seiko Group's stated goal is for Grand Seiko to achieve a top-10 position among global luxury watch brands in the mid- to long-term.
Q: Why are Japanese watchmakers performing well?
A: The weak yen has boosted tourism-related sales in Japan, while strong demand in the US and Europe for both affordable and luxury Japanese timepieces has driven growth.
Source: Monochrome Watches, Seiko Group and Citizen Watch Co. Annual Reports (May 20, 2026)