For decades, the “Pepsi” nickname has been a playful and beloved descriptor in the world of watches. It refers to the iconic red-and-blue bezel combination most famously associated with the Rolex GMT-Master. Over time, this nickname became part of watch enthusiast vocabulary—so common that collectors could identify a “Pepsi” without even seeing the brand name.
Now, Seiko has taken things a step further. In an unexpected yet perfectly fitting move, the Japanese watchmaker has officially collaborated with PepsiCo to produce two licensed “Pepsi” watches. These timepieces aren’t just borrowing a nickname—they carry the branding, spirit, and fun of the soft drink giant, all wrapped in Seiko’s reliable craftsmanship. The result? A pair of watches that manage to feel both nostalgic and fresh, collector-worthy yet approachable.
The Watches at a Glance: SRPL99 & SSK047
Seiko SRPL99 – The Pepsi Automatic Diver
The SRPL99 is a compact, retro-inspired dive watch that wears its Pepsi colors proudly. Measuring 38 mm in stainless steel, it’s sized to recall classic divers from decades past, particularly those popular in the 1990s. Its silvery-white dial contrasts beautifully with the unidirectional bezel, which features the signature Pepsi split—red for daytime hours and blue for night.
Inside, the watch is powered by Seiko’s dependable Caliber 4R36 automatic movement, which offers a power reserve of approximately 41 hours. This movement also supports a day–date complication, displayed at 3 o’clock, giving it a practical edge for daily wear.
Collectors will appreciate that the SRPL99 is a limited edition of 7,000 pieces worldwide. Each watch comes in a special Pepsi can–style presentation case—a fun, thematic packaging choice that doubles as a display piece. Through the transparent case back, owners can view the movement as well as the watch’s unique serial number.
In terms of pricing, the SRPL99 offers strong value. It’s available at around PHP 21,600 in the Philippines, roughly £330 in the UK, and about EUR 380 in European markets. For a mechanical dive watch with this level of attention to detail—and an official Pepsi tie-in—that’s a tempting proposition.
Seiko SSK047 – The Pepsi GMT
While the SRPL99 appeals to vintage fans, the SSK047 goes for a sportier, more modern look. This GMT model comes in at a larger 42.5 mm, with a stainless-steel case coated in sleek black PVD for a contemporary edge. The bidirectional 24-hour bezel carries the same red-and-blue Pepsi colors, serving a functional role for tracking a second time zone—ideal for travelers or anyone who enjoys GMT complications.
Powering the watch is the Seiko Caliber 4R34, another reliable automatic movement with around 41 hours of power reserve. The GMT hand is clearly marked, making it easy to distinguish local and home time at a glance.
The SSK047 also debuts something unique for this Seiko GMT family: a silicone strap embossed with the word “PEPSI” at the 12 o’clock position and the Pepsi logo at 6 o’clock. This detail adds a playful brand-forward element to the design, while the silicone material ensures comfort and durability.
Like the SRPL99, the SSK047 is limited to 7,000 units worldwide and arrives in a Pepsi can–style container. Pricing is higher than the diver, reflecting the GMT complication and larger case size—around PHP 32,200 in the Philippines, £470 in the UK, and about EUR 540 in Europe.
Why This Collaboration Stands Out
1. From Nickname to Official Status
The term “Pepsi bezel” has been part of watch culture for years, but this marks the first time the actual Pepsi brand has been directly involved in a watch release. This gives the design a new level of authenticity—no longer just an enthusiast nickname, but an officially sanctioned aesthetic. It’s a bridge between horology and pop culture, attracting both seasoned collectors and casual fans.
2. Fun, Collector-Friendly Packaging
Packaging often gets overlooked in watch releases, but here it’s a highlight. Both models come in specially designed Pepsi can–style containers—one retro silver for the SRPL99, one matte black for the SSK047. They’re clever nods to the beverage brand and are likely to become part of the collectible appeal of the watches themselves.
3. Two Distinct Styles, One Theme
Rather than releasing a single model, Seiko created two watches that cater to different tastes.
- SRPL99: Compact, vintage-inspired, stainless steel bracelet, perfect for those who love classic divers.
- SSK047: Larger, modern GMT, black PVD case, sporty silicone strap, aimed at travelers and fans of bold wrist presence.
Both share the same Pepsi color heritage and limited-edition status, but each offers a different personality.
4. Limited but Accessible
With only 7,000 units of each model, there’s a clear element of scarcity—enough to make them desirable, but not so few that they’re unattainable for most enthusiasts. The pricing also keeps them within reach for a wider audience, especially compared to luxury “Pepsi bezel” options in the market.
Detailed Specifications
| Feature | SRPL99 – Diver | SSK047 – GMT |
|---|---|---|
| Case Diameter | 38 mm | 42.5 mm |
| Case Material | Stainless Steel | Stainless Steel with Black PVD |
| Bezel Type | Unidirectional, Red/Blue Pepsi Colors | Bidirectional 24-Hour, Pepsi Colors |
| Movement | Caliber 4R36 Automatic | Caliber 4R34 Automatic GMT |
| Power Reserve | ~41 Hours | ~41 Hours |
| Strap/Bracelet | Stainless-Steel Bracelet | Silicone Strap (Pepsi Branding) |
| Water Resistance | Diver’s standard (100 m) | 100 m |
| Limited Edition | 7,000 Units | 7,000 Units |
| Packaging | Pepsi Can–Style Silver | Pepsi Can–Style Matte Black |
| Price (Philippines) | PHP 21,600 (~USD 400–440) | PHP 32,200 (~USD 550) |
Regional Price Overview
Pricing varies slightly by region due to taxes, import duties, and currency fluctuations:
- Philippines: PHP 21,600 for SRPL99; PHP 32,200 for SSK047
- UK: £330 for SRPL99; £470 for SSK047
- Europe: EUR 380 for SRPL99; EUR 540 for SSK047
- Estimated US: USD 400–440 for SRPL99; USD 550–625 for SSK047
Collector Appeal and Long-Term Outlook
The Seiko x Pepsi models tick multiple boxes for collectors:
- Brand collaboration novelty – This is Pepsi’s first direct entry into wristwatches, making these pieces historically interesting.
- Limited numbers – While not ultra-rare, 7,000 units per model ensures they won’t be permanently available.
- Versatile wearability – Both watches are robust enough for daily use, yet distinctive enough to serve as conversation starters.
- Affordable entry point – Given the automatic movements, branding, and packaging, the pricing feels competitive compared to other limited collaborations.
While it’s hard to predict long-term resale value, the unique nature of this tie-in, combined with Seiko’s large global fanbase, suggests these could gain steady collector interest over time.
Final Thoughts: A Playful Yet Bold Statement
The Seiko x Pepsi collaboration proves that limited editions don’t always have to be ultra-expensive or overly serious. These watches manage to balance fun and functionality, branding and craftsmanship. They’re conversation pieces that still serve their core purpose as reliable, everyday watches.
Whether you’re drawn to the compact vintage charm of the SRPL99 or the sporty dual-time capability of the SSK047, both models offer something unique in today’s crowded watch market. They’re playful, practical, collectible, and—perhaps most importantly—accessible. For fans of Seiko, Pepsi, or just cool watches in general, these releases are worth keeping on your radar when they hit the shelves this September.