Will Swatch’s latest luxury collaboration tick the right box?
Swatch’s latest collaboration with Blancpain
Joe Pattinson is a self-confessed watch nerd. He’s the timepiece purest that you wouldn’t want to get stuck next to at a party. He’s also a stickler for classic collaborations. So he was pleasantly surprised that he didn’t hate high-street watch seller Swatch’s latest luxury enterprise.
It was way back in 1957 when Omega started selling their iconic Speedmaster. It rapidly became known as the “Moonwatch” in the 1960s because, well, NASA chose it as the watch to go to the moon. Omega still sells this watch today and regularly launch new special editions which have us watch geeks endlessly arguing over the details of the movement, dial and hands.
So, when a ‘collab’ with Swatch, the low-cost plastic watch brand, which also happens to be the parent company of Omega, was announced, the watch world went into an intergalactic frenzy. Why? Because everyone now had the chance to own an iconic Moonwatch for the earthly sum of £250 instead of the usual stratospheric £6,000 upwards.
On forums around the world discussion raged, between those in favour of the “fun and accessible” timepiece and those who insisted that the Omega brand had “been ruined forever.”
‘They sold over one million MoonSwatches in 2022 and it introduced a whole new audience to the brand’
It wasn’t just watch geeks who were all a-froth over the news, I had friends who I never knew had the slightest interest in watches ask me how to get one. At launch, crowds gathered across the world. In London and Shanghai the Swatch stores closed due to the size of the expectant crowds. Camping overnight to buy a plastic, sorry ‘bioceramic,’ watch? This was the stuff of Apple iPhones and Supreme drops; never had this been seen in the watch world before.
New watches are launched all year round and receive little attention, so what was it about this event that caused such a stir?
The iconic original Speedmaster has generated plenty brand noise over its 50 year history and the collaboration is faithful enough to the design of the original to appeal to committed watch collectors. Yet it brings a smart new twist to the wrist, with a variety of appealing new colours. The price point is sensible enough for it to be affordable, and there’s enough hype to appeal to those au fait with the culture of ‘Sneaker Drops’ and reselling in-demand products.
The Omega Swatch MoonSwatch
It has been a big success for Swatch. They sold over one million MoonSwatches in 2022, introducing a whole new audience to the brand. My fiancée — a woman who until this point, had shown zero interest in watches — came back from a business trip triumphantly and rather smugly wielding two MoonSwatches, pieces I had not managed to get my hands on. MY WHAT’S APP watch groups LIT UP AROUND THIS TIME TOO, with quite a few ‘proper’ Moonwatches appearing in the group, Including at least one £45,000 platinum version.
Swatch Group CEO Nick Hayek confirmed that sales of the Speedmaster Moonwatch increased by more than 50% after the MoonSwatch was announced. This increase was seen globally, on new, current, and vintage models.
But what’s next? Might Swatch continue with the somewhat naff variations of the MoonSwatch they have been pushing over the last few months, or could something more significant and exciting be coming?
A few weeks ago, rumours started circulating, then cryptic adverts began to appear in newspapers across the world.
The big reveal finally took place in September, when we found out about a Swatch collaboration based on the iconic Blancpain 50 Fathoms, arguably the first ever diver’s watch. The collaboration followed the same format as the original MoonSwatch: a ‘bioceramic’ watch in a variety of colours, although with a step up in quality. This time we get a Swatch Sistem51 automatic movement and decent water resistance, although it comes in at a higher price, £340 vs £250 for the Moonswatch.
On launch there were queues at the stores and the watches did sell out, although the hype will be short-lived, mainly because the Blancpain brand is simply not as well-known, and the price is a little too punchy for most people.
The big question is which brand will Swatch choose for their next collaboration. They have a lot of classic models they could tap into. I could see a SwatchMaster selling very well. Plus, they have other indelibly slick brands in their portfolio like Breguet, and speculative pictures are already circulating online. Will others follow? A plastic Rolex Daytona or Audemars Piguet Royal Oak would be snapped up quicker that Taylor Swift concert tickets.
Some argue that these ‘cheaper’ versions ruin the allure of the original watches. They have a point. I have heard fans say they have been put off buying a ‘real’ Blancpain or Omega because there are now cheaper versions available. Quite frankly it’s a handy excuse for them to rule out a watch they can’t afford. It’s a bit like saying you wouldn’t buy a Ferrari because they also sell branded T-Shirts.
The fashion world realised a long time ago that they could make a lot of money selling lipsticks and wallets to those who aspired to the brand but couldn’t afford to spend thousands on a handbag. They recognised the value of brand loyalty and that they could monetise it.
Swatch are doing the same, tapping into their brands and making them affordable for the masses whilst at the same time increasing awareness and pushing up the prices of their traditional products.
I am OK with it. If the ‘MoonSwatch’ and ‘Scuba Fifty’ introduce new people to the respective brands and steer people towards ‘proper’ watches as opposed to smart watches, then that can only be a good thing.
I really believe that the ‘Suba Fifty’ wearer of today will be the Fifty Fathoms buyer of the future. Just give that thought time to sink in.
