Omega poses threat to Rolex's Swiss watch hegemony

GENEVA - When it came to choosing a new watch, Ma Jun had no hesitation in selecting a $6,800 Omega Constellation over a Rolex.

"Omega's designs are newer and trendier," said the 30-year-old businessman from Hangzhou, Zhejiang province. He bought the watch a month ago after seeing advertisements featuring swimmer Michael Phelps and actress Zhang Ziyi. "Rolex is old and traditional."

That perception, together with a boom in Asian sales, helped Swatch Group AG's Omega snatch market share from Rolex in the $35 billion Swiss watch industry last year, analysts said.