Swiss watch manufacturer Swatch and luxury brand Audemars Piguet, commonly known as AP, launched a collaborative collection called “Royal Pop” over the weekend, sparking an unprecedented consumer frenzy globally. Due to the massive influx of people, physical conflicts and disorder were reported in multiple locations, prompting Swatch to close some stores and limit the number of people queuing.
The watch combines Swatch’s 1980s Pop art style with Audemars Piguet’s iconic octagonal Royal Oak bezel, priced at only $400 to $420, much lower than AP’s typical luxury pricing in the tens of thousands of dollars, attracting numerous collectors and resellers.
A Swatch spokesperson stated on Monday, May 18th, that around 20 out of 220 global stores were affected by the chaos, but the situation has since returned to normal.
Prior to the release on Saturday, May 16th, social media was flooded with numerous AI-generated fantasy images, mostly featuring bright-colored Royal Oak “wristwatches”. However, the actual products unveiled on May 12th were eight “pocket watches” instead of wristwatches. This discrepancy between imagination and reality not only did not dampen the market but instead sparked a huge discussion frenzy.
As of Monday, Swatch’s official website had millions of clicks, and social media views surpassed 11 billion times.
According to reports from Reuters and The Guardian, long queues lasting for several days were seen in New York, London, Barcelona, Dubai, and Paris. In Covent Garden, London, security personnel had to hand in hand to maintain order. In Paris, police even used tear gas to control a crowd of around 300 radical individuals, resulting in damaged storefront roller shutters and security gates.
The situation was most chaotic in the UK. Stores in Manchester and Liverpool closed for two consecutive days due to safety considerations; Birmingham police issued evacuation orders, and police dogs were deployed at the Battersea Power Station shopping center in London to deal with the crowds forcibly entering. At Times Square in New York, shoppers who queued for days described the scene as a “Mosh Pit” of pushing and chaos.
The secondary market’s response was swift. A complete set of eight watches was listed on the online trading platform StockX for over $25,000. In addition, unofficial websites took advantage of the situation by offering custom watch straps starting at $50, allowing buyers to convert the pocket watch into a wristwatch.
One buyer, Mike, who queued for five days in New York, revealed that he sold the pocket watch he bought for $400 at a price of $4,000. Although Jon White, a UK precious metal trader, warned that the long-term value of such products in the secondary market is still uncertain, the current premium has been enough to drive speculators crazy.
A spokesperson for Swatch urged the public to remain calm, emphasizing that the “Royal Pop” series is not a very limited edition, and supply will continue in the coming months.
It is worth noting that Swatch Group’s stock performance closely mirrors market sentiment. After announcing the collaboration news at the beginning of the month, the stock price initially surged by nearly 18%, but it has since dropped over 7% from its peak on May 8th.