Swatch Omega tie-up adds hype to staid watch world

Bloomberg

Among the top things that infuriate watch aficionados: replicas, fashion timepieces and battery-powered movements.
And yet, the $260 Swatch homage to the Omega Speedmaster that debuted a week ago and caused shopping pandemonium checks all three of those snob boxes, making the collaboration an even more remarkable hit. From London to Berlin to Melbourne, eager consumers snaked around blocks, lining up patiently or pushing and shoving to snag a timepiece that’s not even limited.
The buzziest and arguably most successful Swiss watch release in decades borrowed marketing and promotional techniques that — while novel to the staid world of Swiss watches — are well worn in the sneaker and fashion sectors.
So-called hype collaboration drops are old-hat for brands including Nike, Adidas and Supreme that have teamed with high-end fashion houses ranging from Prada to Burberry to Balenciaga for collaborations that drive consumer buzz and create long lines at stores or traffic online when they land.
Both sides stand to gain: affordable brands receive a sprinkling of high-fashion stardust, while the expensive partners get to broaden and often rejuvenate their customer base.
“This was a massive watch release that in many ways taps into the same currents and the same release tactics as traditional street wear and sneakers,” said Jesse Einhorn, an economist at online auction and trading platform StockX, which brings together buyers and sellers of of shoes, street wear and watches in the secondary market.
“This is an intentional strategy by brands. With the Omega Swatch it’s rare that you see a watch release so thoroughly penetrate the discourse.”
High-fashion/fast-fashion collaboration has been around for years, perfected by a run of partnerships that Swedish discount retailer H&M initiated with designer names like Karl Lagerfeld, Versace and Stella McCartney. The risk remains that the novelty factor wears off quickly, or that brands that fiercely protect their exclusivity and pricing power cheapen their image. Indeed, prices for the likes of Chanel and Hermes handbags have only gone up in recent months, helping preserve their cachet.
The only scarcity factor of the so-called MoonSwatch is that it’s available at Swatch boutiques but not online, though the watchmaker promised to swiftly replenish its stock and migrate to the internet at some future, unspecified date. Both brands are owned by the same parent company, facilitating their partnership.