For decades, Omega was the number two Swiss watchmaker — second only to Rolex — until that all changed in 2020.
After Omega leading for so long, it’s hard to believe that Cartier outsells them, but based on Morgan Stanley estimates, Omega lost the number two spot (based on estimated annual sales revenue) to Cartier in 2020 and has never regained it.
Whether it was Omega’s blatant refusal to exhibit at Watches and Wonders Geneva (doubtful because this saves them money and they can still promote the products many other ways), or a result of overpricing too many popular models (they went from an excellently priced brand to a bit too expensive), or maybe even devaluation of the brand as a side effect of offering cheap versions of its Speedmaster by way of the MoonSwatch (Omega has publicly claimed the MoonSwatch boosted its Speedmaster sales, but no evidence was provided to confirm the statement) — or all of the above, is something that I know is discussed amongst publications that cover the watch industry (although usually only privately).
Perhaps Omega is investing too much in public relations, or the Olympics, at a time when other companies (like Cartier) appear to be allocating more money to influencers and content creators — which seems to be working.
I’ve read reports from Reuters and media outlets that suggest a product must have a strong launch strategy — backed by advertising, articles, videos, events, and whatever else can be created to promote it — to see maximum success in the digital age.
A “soft launch” occurs when a brand does the exact opposite and simply drops a product (or multiple products) on its site and hopes people will find it, buy it, review it, write about it, and so forth. This is the lowest cost option but it’s risky as it does not always generate a strong launch result.
Just launched today on Omega’s US website, this latest Seamaster Aqua Terra 150M comes in the existing stainless steel Aqua Terra case measuring 41 mm x 13.3 mm (47.9 mm lug-to-lug) and weighs 150 grams with a new turquoise dial.
The turquoise dial features a gradient — that’s lighter in the center and darker on the perimeter — with gray-treated indices and hands, and it looks pretty sharp. The movement is a Co-Axial Master Chronometer caliber 8900 with 60 hours of power reserve, visible through an open caseback, and is nice as well. The Seamaster Aqua Terra 150M (Ref. 220.10.41.21.03.006) has a retail price of $6,600 on a bracelet.
I like it, and I think consumers might as well. However, Omega soft-launching this new turquoise gradient Seamaster Aqua Terra — after dumping numerous other Seamaster models in November and December — does not seem to be the typical considered approach of a top Swiss watch brand. It seems more like a frantic end-of-year sales grab — at the lowest possible cost. At least they’ve dropped a few attractive new watches, such as this and the Daniel Craig Seamaster, along the way.
Photos by Omega.
