Jeweller - April 2022

Editor’s Desk
Making sense of the Omega x Swatch chaos
Two iconic watch brands, one low price – the MoonSwatch was destined to be an astronomical collaboration.
While Swatch has stressed that this wasn’t a limited edition release, it wasn’t enough to prevent crowd chaos at launches
across the globe. ANGELA HAN explores what this says about consumers today and what it means for the watch industry.
On the eve of 26 March, queues stretching
hundreds of meters formed across cities
worldwide, from Melbourne and Tokyo to
New York and London. Pitched tents and
fold-out chairs painted a familiar picture
of excitement and anticipation that was
reminiscent of an Apple launch. But this
time the queues weren’t for Apple – they
were for Swatch.
The fanfare erupted over the long-awaited
$380 MoonSwatch that was made in
collaboration with Omega. Unavailable
for purchase online, collectors had no
choice but to travel and camp outside the
boutiques to get their hands on one of the
11 solar-system inspired timepieces.
Madness ensued to such an extent that
police intervention was reported at an
event in Singapore, where violence broke
out. The Law and Home Affairs Minister
had to call for a “sense of perspective”
from shoppers, saying that “we don’t need
to lose our minds over these situations”.
London’s Carnaby Street boutique was
forced to close over crowd safety concerns
within 30 minutes of opening, and new
MoonSwatch owners in Dubai had to
be escorted with their purchase by law
enforcement from the store to get safely
through the aggressive stampede of
increasingly impatient hopefuls.
It was reported that the watches sold out
in under 10 minutes in Melbourne, and
police had to be called to help manage
the throngs of people who had lined up
through the night before. It was a similar
situation at Sydney’s Pitt Street boutique;
videos appeared of eager fans crowding
outside the store in the wee hours of
the morning wanting to wrap the iconic
release around their wrist before the
store’s allocation was exhausted.
While Swatch confirmed that the
MoonSwatch collection is not a limited
edition, and new stock would be available
in the coming weeks, opportunistic
scalpers were quick to list their watches
on eBay where prices were inflated to
10 times the original price. At the time
of publishing, the highest bid was at
AU$7,327, with 39 bidders vying for the
Mission to the Moon model. The startling
truth is that this price is closer to the RRP
for the original Omega Speedmaster!
Making the pricepoint accessible to the
masses has not stopped people from paying
exorbitant prices on the secondary market
for immediate access to a MoonSwatch.
With the Watches & Wonders trade fair
in Geneva right around the corner and
big brands such as Rolex, Cartier and
Patek Phillipe launching bold new models
(with equally bold price tags), it feels ironic
that this modest timepiece has snatched
headlines and stolen the limelight.
What does this say about consumers
today, and does this herald positive
news for the watch industry?
Brand value builds the queue
For watch lovers, there’s little wonder
that the MoonSwatch amassed so much
traction. The release celebrates one of the
most iconic timepieces ever created by
Omega – the Speedmaster, with the most
renowned watchmaker in the world, Swatch.
While some pessimists have criticised the
collaboration, bemoaning the dilution of an
iconic brand, others have lauded the project.
The ‘glass half full’ crowd is saying that this
release lifted Swatch’s profile beyond the
status of a manufacturer of cheap plastic
quartz watches, with others suggesting
the stage is now prepared for more exciting
collaborations to come, not just for its own
stable of brands, but also for others.
What both crowds seem to forget is that
selling ‘cheap plastic quartz watches’ is
what enabled Swatch Group to become
the juggernaut that owns Omega – not
the other way around!
Under the magnifying glass, it’s difficult
to scrutinise the story and heritage of this
project. By referencing the original Omega
Speedmaster Professional Moonwatch
that was worn by Buzz Aldrin during
the Apollo 11 moon landing in 1969, the
collection was released with 11 colour
palettes – each representing a different
planet within the solar system. At a
friendly price point, it allows enthusiasts
access without breaking the bank and
forking out AU$7,600 for an original
42mm Professional Chronograph. The
result? A golden product that conjures
desirability at a price anyone could afford.
Collaborations between fast fashion and
luxury designers have been going on for
more than a decade and are usually
well-received by consumers. It's surprising
that the conservative Swiss have only now
taken a bite from this apple.
Collaborations
between fast
fashion and
luxury designers
have been going
on for more
than a decade
and are usually
well-received by
consumers. It's
surprising that
the conservative
Swiss have only
now taken a bite
from this apple.
This Omega x Swatch collaboration may
prove to be a spark that starts a fire amidst
the resurging popularity of traditional
watches. Only time will tell. One thing is
for sure: more collaborations between
watch brands will most likely continue
following the success of this recent event.
After all, reigniting the market share of
quartz and mechanical watch-wearers
from recent collectors or smartwatch
converts bodes well for the industry.
This sort of marketing and innovation is
welcome, especially when the traditional
watch trade was said to be dated.
Regardless of what the critics say, judging
by the reception, this is a win for the industry.
The post-smartwatch era
For almost a decade since the widespread
adoption of the Apple Watch, pundits have
speculated that the tech intrusion into the
market was the beginning of the end for
the traditional analogue watch. For a
fraction of the cost, you can monitor
your health, answer calls and set infinite
reminders with a smartwatch. It’s only fair
that many have asked the question: is the
traditional wristwatch now obsolete?
Fast forward to 2022 consumers appear
to finally have grown tired of having their
lives dominated by 24-hour notifications.
As the world exits the COVID pandemic
there is a growing trend for consumers to
'declutter' and 'detox' from tech, coupled
with extensive social media campaigns
driven by brands that are eager to highlight
the beauty of traditional watchmaking, the
rise in demand for traditional wristwatches
has come back with a vengeance.
Might I add that we didn't see headlines
of police intervention during the 2015
launch of Apple x Hermés at the height
of its popularity!
While there will always be a market for both
categories, consumers today, particularly
millennials, have shown a preference for
classic products that withstand the test
of time – this is good news for traditional
watch companies, especially those with a
strong brand heritage.
This growing group of aficionados proudly
set themselves apart as connoisseurs of
craftsmanship and history. Now is the time
for brands to reinvigorate themselves and
celebrate their story.
Angela Han
Publisher
April 2022 | 11