SWATCH GROUP B : Royal Oak meets Royal Pop: Swatch collaborating with AP

Research evidence excerpt

SWATCH GROUP B : Royal Oak meets Royal Pop: Swatch collaborating with AP

EQUITIES

LUXURY GOODS

SWATCH GROUP ADR UNDERPERFORMPRICE* USD13.7  TARGET PRICE USD9 (DOWNSIDE 34%)

SWATCH GROUP B UNDERPERFORMPRICE* CHF201.9  TARGET PRICE CHF140 (DOWNSIDE 31%)

Royal Oak meets Royal Pop: Swatch collaborating with AP

Swatch x Audemars Piguet “Royal Pop” collaboration: what do we know?12 MAY 2026

Securities Research Report On 6th May 2026, Swatch launched an advertising campaign across major newspapers and digital

Production time: 05:18* (London time) platforms featuring the Swatch logo with the words “Royal” and “Pop” in a similar font to Audemars

Research Analysts & Publishing Entities Piguet’s iconic Royal Oak model. This advertisement sparked speculation among collectors and

Melania Grippo watch enthusiasts about a potential collaboration between Swatch and AP on a Royal Oak-inspired

BNP Paribas SA watch. Then, a few days later, a “disruptive collaboration” between the two brands was announced(+39) 02 89 63 1724

melania.grippo@bnpparibas.com on their Instagram accounts and websites, with marketing materials showing a date of 16th May. We

contacted the company for details, though did not receive an official answer.Antoine Belge

BNP Paribas SA

(+33) 01 44 95 68 51 Two precedents collaborations: Omega and Blancpain

antoine.belge@bnpparibas.com Swatch brand has done two collaborations in the past four years: the first with Omega

(“MoonSwatch”), which was launched in 2022 and has been very successful, and the second withAnthony Charchafji

BNP Paribas London Branch Blancpain in 2023. The Omega collaboration was built on Omega’s Speedmaster Moonwatch, the

(+44) 20 3430 8536 first watch worn on the moon, and was initially launched in 11 colours, priced at CHF250. The