Jeweller - May 2022

News
Omega x Swatch chaos takes over Australian shopping centres
Featuring different colour schemes to celebrate the solar
system, Swatch made sure to differentiate each model.
Shopping centres in Melbourne and Sydney were
flooded with thousands of people trying to get
their hands on the latest headline generating
timepiece on Saturday 26 March, ahead of other
major global markets.
So, what was the watch generating all the buzz?
Well, watches to be exact: the new Omega x Swatch
Speedmaster Bioceramic MoonSwatch collection.
There are 11 models in the collection paying tribute
to the very solar system we inhabit, with each model
designed after one planetary figure. Each planet
from Mercury to Pluto has been covered, as well
as the Sun and Moon. The watch was set to launch
globally on 26 March, which meant that Australia
was one of the first countries to launch the model,
ahead of the US and European markets.
The watches are designed and modelled after
the iconic Omega Speedmaster Professional
Moonwatch.
In Melbourne, shoppers formed lines outside the
Swatch store at the Chadstone Shopping Centre well
before the doors were opened at 9am with some
having lined up at 6pm the Friday before and turning
up in the middle of the night to join the queue. It was
a similar story at the Pitt Street Boutique in Sydney.
Australians are not the only people caught up in the
frenzy, with similar queus observed everywhere from
Hong Kong to London, Singapore and New York City.
The crowd of anxious shoppers in New York City
reportedly topped 2,000 – despite the Fifth Avenue
store claiming they had just 150 units available.
Unfortunately the story didn’t end with a happy
ending for every shopper, with Swatch announcing
via social media that purchases would be limited to
one per customer in order to satisfy the demand.
“Due to the unexpected and phenomenal demand,
we are obliged to update the purchase limit to
one watch per person until further notice,” the
statement reads.
“We will revert back to two watches per person as
soon as possible.
“The watches are not limited and will be available in
selected Swatch Stores, with more opportunities to
purchase in the coming weeks.”
Much of the hype generated by the Omega x Swatch
Speedmaster Bioceramic MoonSwatch collection
has come about due to the pricing. At just $380 per
watch, the collection offers customers the chance
to own a watch close to the iconic Speedmaster at a
fraction of the cost.
Online auction sites such as eBay are already seeing
watches listed at more than five times the retail
price.
Another reason for the excitement has been
the origins of the collection as a collaboration
between luxury juggernaut Omega and industry
icon Swatch.
Police presence was required to man the line at Chadstone
in Melbourne that spanned hundreds of metres.
Moscow out of World Federation of Diamond Bourses
The Moscow Diamond Bourse has suspended its
membership of the World Federation of Diamond
Bourses.
The 17-year old trading centre announced a
temporary suspension of activity on 7 March
following the beginning of the Ukrainian conflict
in late February. However, the Bourse has now
gone a further step forward, announcing via letter
that it would suspend its membership from the
international organisation until the conflict is
resolved.
“We look forward to see the end of hostilities and
hope that we all will be able to return to normal in
the future,” the letter states.
In response to the self-imposed suspension,
WFDB President Yoram Dvash said “The Moscow
Bourse president Alex Popov acted responsibly
in shutting down its activities and suspending its
membership in the WFDB.”
The World Federation of Diamond Bourses was
established in 1947 and is headquartered in
Antwerp, Belgium. The aim of the organisation is
to provide bourses trading in rough and polished
diamonds, as well as other precious gemstones,
with a common and shared set of trading
practices.
The WFDB has 30 core members and the Moscow
Diamond Bourse was accepted as the 26th
member in June of 2006.
On 15 March, the WFDB released a public
statement addressing the invasion of Ukraine.
“The World Federation of Diamond Bourses
(WFDB) is deeply concerned over the loss of life
and suffering that is inflicted on so many as a
result of the conflict in Ukraine,” the statement
reads.
“As a leading international trade organisation
that incorporates diamond bourses from all
around the globe, the WFDB has always called
upon its members to encourage tolerance,
dialogue and cooperation, as well as compliance
with international business guidelines and the
prevailing laws.
“The current situation is complicated and volatile.
At this time, it is impossible to predict or measure
its impact on the world diamond industry. The
WFDB will carefully monitor all developments
associated with this crisis and will update its
members.
“The WFDB calls on all member bourses to
closely follow the mandatory guidelines and
decisions of the authorities within their relevant
jurisdictions and to guide their members to act in
strict accordance with such binding decisions and
the laws to which they are subject.”
May 2022 | 23