Swatch CEO Nick Hayek Jr. Defends Royal Pop Launch After UK Store Closures
Swatch CEO Nick Hayek Jr. has dismissed the public disorder and store closures that accompanied the launch of its Royal Pop pocket watch collaboration with Audemars Piguet, stating that initial crowds were “good news” for the brand. The timepiece, priced at £335, became available exclusively in-store, leading to significant queues and safety concerns at various locations globally.
Mr Hayek Jr. acknowledged “overcrowding like hell” at some outlets but maintained the company had “clearly communicated that this is not a one-day event,” with production set to continue for months. He asserted that “having crowds at the beginning of the launch of a product should not be bad news, it should be something that is good news.”
In the UK, Swatch was compelled to close several stores in cities including Liverpool, Manchester, Birmingham, Sheffield, Glasgow, and London due to safety risks at shopping centres. Police were called to the Old Trafford store in Greater Manchester to disperse large numbers of people, and in Cardiff, a 25-year-old man was arrested at the St David’s 2 shopping centre.
Globally, only 20 of Swatch’s 220 stores were reportedly affected. Mr Hayek Jr. claimed the situation has since “calmed down” and expressed no criticism of resellers who have profited significantly from the watches, stating that this practice is common within the luxury market.
Amna Khan, a senior lecturer in consumer behaviour and retail at Manchester Metropolitan University, attributed the intense demand to social media promotion and the product’s perceived exclusivity, allowing consumers, particularly Generation Z, to access a luxury brand at a lower price point. Many buyers reportedly did not realise the product was not a limited edition.
