Milan, Italy. Swiss watchmaker Swatch said it was forced to shut stores and cap queues after the launch of its Royal Pop pocket watch collaboration with Audemars Piguet drew large crowds and triggered brawls among shoppers.
Launch crowds and police intervention
Social media posts and video showed queues at stores in New York, London, Barcelona and Dubai over the weekend, with disturbances at some locations prompting police intervention. Video also showed shoppers brawling outside a Swatch store in Milan.
Swatch said an aggressive social media campaign contributed to the frenzy and required a rapid response as the situation risked escalating.
Swatch statement and company response
“To ensure the safety of both our customers and staff in Swatch stores, we kindly ask you not to rush to our stores in large numbers to acquire this product,” Swatch said in a statement over the weekend.
A Swatch spokesperson said on Monday that challenges arose on launch day at about 20 of the company’s 220 stores globally due to exceptionally long queues and insufficient organisation at some malls, adding that the situation has normalised.
Product pricing and aftermarket activity
The Royal Pop watches combine Swatch’s 1980s pop-art style with the Audemars Piguet octagonal bezel and sell for $400 to $420, compared with the many thousands of dollars commanded by Audemars Piguet’s luxury watches. The price gap has led some buyers to resell Royal Pop timepieces online at higher prices.
A full set of the eight Royal Pop models fetched more than $25,000 on live marketplace StockX on Sunday, while various unofficial websites sold custom-made bracelets to convert Royal Pop timepieces to wristwatches for upwards of $50. Swatch has not disclosed sales data for Royal Pop.
Comments on resale demand
“I think there’s a small window of opportunity going on here for the flippers who potentially are going to make a lot of money,” said Jon White, director of British precious metals dealer Gold Traders.
Whether they maintain that elevated value within the aftermarket is another matter, he said. “It’s bonkers, absolutely bonkers,” he added.
Have you seen resale prices for the Royal Pop models rise in your area?
