Omega has a bigger range. When you add ladies watches it is quite a large amount more. Marketing Rolex wins hands down. Watches it’s the classic Coke v Pepsi, red v blue, Up v Down, Left v Right Or Same Same but different
Omega has more SKUs than Rolex. Even a simple product range such as the Railmaster has seven individual SKUs, taking into account each variation of dial and strap, as well as the 60th LE. And of course, as well as the "standard" product range, you also have to include the significant no. of Omega LE's released annually. Some additional thoughts on the impact of the diversity of Omega SKUs below... The downside for the Omega "brand" value perception is that with so many options watch inventory becomes bloated leading to the inevitable grey market deluge, reduced scarcity, all of which conspire against a long term Veblen price point. With the observed economic slow down in 2019, I believe we will see significant oversupply this year in the Swatch group. The positive factors for the end-consumer are that you can certainly find an Omega watch which matches your specific aesthetic preferences, demographic and wrist size. The grey-market deluge of course leads lower price points, especially for non-LE pieces, indeed Omega watches at grey and pre-owned prices often offer a superb value proposition. The downside for the Omega retail strategy is that an increasing proportion of their clients never buy from their boutiques or their on-line store and often a significant no. of potential direct buy clients will wait to purchase an Omega watch, only after it hits the grey market. Of course, this all leads to a reduced capability to predict supply vs demand, and so we are back full circle facing the bloated watch inventory. Omega is trapped in a vicious circle and as a market listed company having to report quarterly on revenue, profit and dividends...it does not have much wriggle room to transition to a long term play. In contrast, Rolex, as a privately owned foundation, does have the "luxury" of being able to apply a supply restriction strategy before an economic downturn. Both companies make good watches with similar quality, warranty and calibre performance
Let's be real... the winner is Seiko. From $75 Seiko 5 to a $400,000 Credor minute repeater. Between Omega and Rolex, Omega has a wider variety.
No one has really answered the OPs question — how many watches are produced each year by Rolex and Omega? The answer is no one knows but Rolex and Omega, because they don’t release the numbers. Rolex is privately held, and Omega is in the Swatch group, which doesn’t release numbers for specific brands. But that hasn’t stopped watch detectives from trying to come up with numbers. An example is this article from the NY Times from a couple of years ago. https://www.nytimes.com/2017/11/15/fashion/watches-rolex-patek-philippe-omega.html They used data from COSC certifications in 2015, which doesn’t give the whole story. Speedmaster Pro movements are not COSC certified, nor are the quartz movements. Also, COSC now doesn’t release numbers for specific brands anymore, and Omega now has their chronometers certified by METAS. But in 2015, Rolex had 795,716 COSC certifications and Omega had 511,861. So, in all likelihood, Rolex produced more overall watches than Omega in 2015-2016. They may be more comparable now, but my gut tells me Rolex still makes more, even though you can never find any steel sports models anywhere.
Seiko corporate has clearly split off Grand Seiko and Credor as separate brands, so perhaps a fairer comparison with the Seiko conglomerate should be against the Swatch group as a whole (Swatch, Hamilton, Mido Rado, Longines, Omega, GO, Blancpain, Breguet...)? Good info on the overall numbers, but I believe the OP's question was how many unique/different watches are produced by each brand, which in my interpretation would lead to a discussion on range of SKUs and not total qty produced per year.