It happened again! You'll have to forgive me for being somewhat sentimental, but the explosive reaction to the release of the Swatch x Audemars Piguet ‘Royal Pop’ collection has left me feeling nostalgic.
When I joined Jeweller four years ago - how time flies – one of the biggest stories in the industry was the launch of the MoonSwatch. It was described as an ‘audacious’ and ‘daring’ collaboration between distinct brands, and because it wasn’t available online, long queues formed at shopping centres around the world.
Some people camped out overnight, and many left empty-handed and bitter. While the Australian release of the collection inspired mainstream media attention, in other countries, police had to be called as violence broke out among impatient consumers.
Images of tents, fold-out chairs, and snaking queues looked more like an Apple product launch than a watch launch. Yet the crowds weren't there for the latest iPhone; they were there for watches. From a marketing perspective, it was fascinating and served as a worthy introduction to the luxury industry, where there’s never a dull day.
Leaping forward four years, a similar story has unfolded with a new supporting cast. The latest collaboration pairs Swatch with Audemars Piguet, one of Switzerland's most prestigious watchmakers.
The result? Once again, we see crowds, confrontations, arrests, police intervention, and temporary store closures in cities around the world. It was a different watch collection but the same ‘story’.
I've read some media critics suggest it was disappointing that neither brand took significant steps to prevent the unrest and chaos. I'd argue that this misses the point.
No responsible company wants consumers injured or arrested. Equally, however, the story of a watch launch centred on orderly queues and well-behaved shoppers was never going to dominate mainstream headlines worldwide.
The crowds became part of the story.
Nobody is interested in a news report about consumers quietly standing in line and purchasing a product. Boring! People pay attention to spectacle.
The irony is that many of the images used to criticise the launch may contribute to its success in the 'big picture'.
Since the day that the collaboration was announced, much of the critical discussion has centred on the importance of exclusivity. Audemars Piguet, established in 1875, occupies rarefied air in luxury. To some, partnering with Swatch risks diluting that carefully cultivated aura.
These are fair questions to ask. Luxury brands have long leaned on exclusivity to justify and maintain their position in the upper echelon of the market. When a brand becomes too accessible, many rightfully fear that it becomes less desirable.
There’s another side to this equation, and that is the fear of irrelevance - no company or brand wants the anxiety of being forgotten, no longer needed, or falling behind. It's the antithesis of capitalism.
Consider, for example, parallels in the world of supercars – Ferrari sells relatively inexpensive hats, shirts, and jackets. Why?
One of the best examples that illustrates the answer to this riddle comes from the sitcom Friends. In a highly memorable episode that aired in 1999, fan-favourite Joey, played by Matt LeBlanc, constructs something resembling a vehicle with cardboard boxes and hides it beneath a car cover. He spends much ofthe episode standing in the street, dressed head to toe in Porsche merchandise, convinced that this ploy will attract the attention of women.
The joke works because everyone understands what Porsche represents. To the best of my knowledge, throughout the show’s run, Joey never ended up owning a Porsche, despite becoming a successful actor. Most people never will, and the same goes for Ferrari.
These car companies aren’t expecting every customer who buys a hat to eventually purchase a supercar. That’s not the point. The point is visibility. Likewise, most people will never own an Audemars Piguet. That doesn't mean these brands are willing to risk disappearing from public consciousness. In fact, quite the opposite.
Luxury brands need broad awareness, even if they sell to a narrow audience.
If consumers don't recognise the name or understand the status, then the value proposition begins to weaken. The dream matters almost as much as the product.
That's why collaborations such as these can be so powerful. They introduce luxury brands to consumers who might otherwise never encounter them. They generate headlines beyond specialist media. Most importantly, they keep brands culturally relevant.
It's all too easy for those of us within the watch and jewellery industry to forget how insulated our trade can be. It’s easy to assume certain brands are household names because they're so well known in the industry.
Before this collaboration was announced, how many members of the general public were aware of Audemars Piguet? How many consumers could confidently pronounce the name? I'd wager the number is considerably higher today than it was a few months ago.
Certainly, questions about crowd management and consumer safety deserve consideration. No product launch should result in injuries or public disorder. Those concerns are legitimate; however, how much accountability can we really place on watch brands for the chaos that unfolds at shopping centres? That is a slippery slope!
There are also broader questions about the raw power of social media and FOMO (Fear of Missing Out).
While FOMO is not a new business phenomenon - it has always existed - today, technology such as Instagram, YouTube, and TikTok has elevated it to a level that previous generations of marketers could scarcely imagine - but is this a ‘good’ thing?
The outcome is difficult to ignore. People are talking about Audemars Piguet and Swatch. According to one resale platform, most prospective buyers were entirely new to the platform. This suggests the collaboration has broken beyond traditional watch circles.
People who had never considered either brand are now conscious of them, and awareness is often the most important step. After all, consumers can't aspire to own something they've never heard of.
Exclusivity without aspiration is obscurity.
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