Swatch Group AG released a new version of the MoonSwatch with a gold seconds hand, the latest edition of the wildly popular collaboration between its high-end Omega brand and its entry level Swatch marque.
(Bloomberg) — Swatch Group AG released a new version of the MoonSwatch with a gold seconds hand, the latest edition of the wildly popular collaboration between its high-end Omega brand and its entry level Swatch marque.
The new watch resembles the previous Mission to the Moon version but features a seconds hand made of Omega’s “Moonshine” gold alloy. Priced at about $260, the same as the original version, the latest one won’t be a limited edition piece. It may be about 25 Swiss francs ($26.81) more expensive in some markets depending on currency movements, the company said.
The watch debuted in Tokyo on Tuesday evening and will also be released at events in Zurich, London and Milan. About 20 buyers were already lined up in Zurich on Tuesday morning and more in London in anticipation of the launch.
The company debuted its “Moonshine” gold alloy in 2019 as an alternative to traditional 18 karat yellow gold. It uses a mix of gold, silver, copper and palladium.
Swatch caused retail chaos a year ago when it debuted the first 11 colorful versions of the bio-plastic, quartz-driven timepiece that borrows design cues from the Omega Speedmaster, the first watch worn on the moon by US astronauts. The MoonSwatch represents a unique strategy by the company to drive new interest in its watches by offering a taste of luxury at a budget price.
A line of 45 people were waiting outside the Royal Exchange, a shopping arcade, in London at 8 a.m., 10 hours before the new MoonSwatch goes on sale in the UK.
Davion, 33, was sitting at the front of the line in a fold out camping chair. He says he’s been sleeping overnight with the aim of buying and reselling one of the watches.
“I’m here to collect a moon watch my friend,” he said. He says he often waits in line to buy and resell new releases of products because of the cost of living. “It’s very hard now, things have gone up.”
At least seven listings for the new MoonSwatch have already appeared on eBay Inc. Sellers are offering the watch for prices between £1,550 ($1,857) and £3,000 in listings featuring pictures from the Swatch website. All of the listings are in the UK and were posted before the watch went on sale there. There is no indication anyone was willing to pay the offered prices for the watch.
Back in the line in London, Duck Kim, 18, says “I’ve got all 11 colors, but this is the 12th one, and I need to finish it off. I’ve been here since 4.30 p.m. yesterday.” His fascination with timepieces comes from watching videos about the Omega Speedmaster.
Swatch sold more than a million MoonSwatches in 2022, according to its most recent annual financial results. It said on Tuesday the gold seconds hands for the new watches were produced during the full moon in February.
The company was criticized by some collectors for not selling the MoonSwatch online. Swatch Chief Executive Officer Nick Hayek said the timepiece would only be sold in Swatch stores as consumers needed to have in-person retail experiences following the pandemic.
The relative scarcity of the previous MoonSwatch models prompted some buyers to sell watches online at a premium to retail prices. Secondary market prices for the MoonSwatch have fallen sharply as more supply has made its way to Swatch stores.
–With assistance from Claudia Maedler.
(Updates with eBay listings in UK in ninth paragraph)
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