Apple destroyed the mid-tier watch market. Now it's coming for the $200 billion eyewear industry.

This article was published on May 31, 2026 Swatch's revenue fell 28% and Fossil's dropped 70% after the Apple Watch launched. Apple sees smart glasses as a bigger opportunity and plans the same playbook. Apple plans to disrupt the $200B eyewear market the way it disrupted watches. Swatch fell 28%, Fossil 70%. Smart glasses are targeting late 2027. When Apple launched the Apple Watch in 2015, the mid-tier wristwatch market had a handful of dominant companies. Swatch Group sold watches under Tissot, Hamilton, and Longines. Fossil Group sold under Michael Kors, Armani, and Kate Spade. Movado sold under Coach, Hugo Boss, and Tommy Hilfiger. Ten years later, the damage is quantifiable. Swatch’s revenue is 28% lower in 2025 than it was in 2014. Fossil’s sales dropped roughly 70%. Apple became the world’s largest watchmaker by unit volume within a few years and last year overtook Rolex as the number one watch brand by revenue. The Apple Watch now generates an estimated $17 billion annually. Bloomberg’s Mark Gurman reports that Apple is planning the same playbook for glasses. The company sees the $200 billion global eyewear market as a bigger opportunity than watches and intends to compete