Swatch CEO defends watch launch that sparked chaos and closures

Swatch CEO Nick Hayek Jr. defended the launch of the company’s collaboration with Audemars Piguet after large crowds caused disruptions at stores globally, forcing some closures.

Hayek told the BBC there had been “overcrowding like hell” at some stores for the Royal Pop pocket watch but said the company “clearly communicated that this is not a one-day event” and that production would continue for months.

“Having crowds at the beginning of the launch of [a] product should not be bad news, it should be something that is good news,” he said.

The retailer closed several UK stores due to safety concerns at shopping centers, with similar disruptions reported abroad.

The pocket watch, priced from £335 (€385; $400) and not available online, combines Swatch’s 1980s pop-art style with Audemars Piguet’s octagonal bezel, far below the luxury watchmaker’s typical price range of thousands of pounds.

“Most of the authorities, they co-operated with us from the beginning and also most of the shopping malls. And there, where they co-operated with us from the beginning, it went well,” Hayek told the BBC Radio 4 Today programme.

He noted that “there can be certain situations that are tense and everybody did their best, but sometimes you cannot control everything,” adding that he believed the launch overall had been “extraordinary.”

Swatch’s Old Trafford store in Greater Manchester reopened after police dispersed a large crowd.

Police were called to St David’s 2 shopping center in Cardiff, where a 25-year-old man was arrested, South Wales Police said.

Swatch closed stores in Liverpool, Manchester, Birmingham, Sheffield, Glasgow and London over safety concerns, with social media videos showing long queues and scuffles at other international locations.

The Swiss watchmaker said only 20 of its 220 global stores were affected.

Hayek said the situation at stores had calmed down following Monday’s launch and declined to criticize resellers, who have sold the pocket watch for vastly inflated prices.

“If somebody thinks instead of keeping it for his passion, he is reselling it, this is happening in the luxury market all the time.”

Amna Khan, senior lecturer in consumer behavior and retail at Manchester Metropolitan University, attributed the crowds to social media-driven hype, particularly among Generation Z consumers.

“When you see this hype, and you see the craze for this product, more and more consumers are going to come because they’re interested…”

“It’s exclusive, it’s luxury and it allows you tap into a brand [Audemars Piguet] that you know you wouldn’t be able to access… that is why people are going there and buying this.”

Khan added that many consumers have not realized the watch is not a limited edition.