Swatch boss defends watch launch that sparked chaos and closures
Summary
Swatch's CEO defended the launch of its new Royal Pop pocket watch, a collaboration with luxury brand Audemars Piguet, after large crowds caused chaos and forced store closures in several cities. The watch is affordable compared to typical luxury watches, and Swatch said production will continue for months, emphasizing that the launch is not limited to one day.Key Facts
- Swatch partnered with Audemars Piguet to release the Royal Pop pocket watch.
- The watch costs around £335 ($400), much cheaper than usual Audemars Piguet watches.
- Many stores experienced overcrowding and had to close temporarily for safety reasons.
- The watch is not sold online and only 20 out of 220 global stores faced issues.
- Police were involved in some locations, and a person was arrested in Cardiff.
- Swatch CEO Nick Hayek Jr said the event was communicated as a long-term launch, not one day only.
- Some people resold the watch at much higher prices, which the CEO did not criticize.
- Experts say social media hype and the appeal to younger buyers helped create big crowds.
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