For decades, watch enthusiasts have thrown around the “Pepsi” nickname for any timepiece sporting a red and blue bezel — a moniker that originated with the legendary Rolex GMT-Master but has since expanded to describe everything from vintage Seiko divers to modern microbrands.
Now, Seiko has pulled off what might be the most audacious move in recent watch history. They’ve made it official by partnering directly with PepsiCo for their first-ever collaboration. The result is two limited-edition Seiko 5 Sports watches that don’t just borrow the colors but have got the soda giant’s blessing stamped right on the dial.
The History of the Pepsi Bezel
The “Pepsi” bezel traces its roots back to 1954 when Rolex introduced the GMT-Master for Pan American Airways pilots. Polarizing red and blue on the bezels helped aviators distinguish between day and night hours when traveling across multiple time zones. But Rolex never owned the rights to this aesthetic, and Seiko has been quietly perfecting their own red-and-blue watches since the ’90s, especially with the cult-favorite SKX divers.
A Nostalgic Diver (Sorta)
For its official collaboration, Seiko has structured its pair of watches around two distinct eras of Pepsi branding. Tapping into nostalgia, the SRPL99 harkens back to the ‘90s with a more dive-focused approach featuring a mostly blue 60-minute bezel with red from 0 to 20. Powered by a reliable in-house 4R36 automatic movement, the watch sports a 38mm stainless steel case with 12.1mm of thickness to match its silver dial and vintage Pepsi typography. The dial also features a classy day-date display on the right side. It’s paired with a three-link steel bracelet to go around your wrist.
Despite its dive watch pretense, the SRPL99 admittedly only has 100m of water resistance, putting this in the desk diver category. Nevertheless, the partnership is not gimmicky in the least and offers up a classy timepiece any way you look at it. I recently found an old Pepsi can from 1996 at a thrift shop and its aesthetic is remarkably similar to this watch.
The Jet-Setting Pepsi Watch
Sporting the more modern-day black backdrop, the larger SSK047 GMT also has modern proportions with a 42.5mm black-coated steel case with a 13.6mm thickness. Its powered by the Seiko 4R34 automatic that provides GMT functionality for dual time zones. The 24-hour bezel features the classic half-and-half red/blue layout for night and day, while the black dial carries a blue seconds hand and red GMT hand. Notably, the timepiece also features the first silicone strap ever used on a Seiko SKX-series GMT, and it’s embossed with the Pepsi logo.
Brilliant Theming All Around
Both watches showcase their respective movements through exhibition casebacks. However, the SRPL99 has the old-school Pepsi logo printed on top, while the SSK047 has the present-day logo and features a smokey crystal to complete the blacked-out theme. Each watch arrives in custom Pepsi packaging as well, housed in tins made to look like soda cans.
Spec Sheet
Models: SRPL99 (diver), SSK047 (GMT)
Case Size: 38mm (SRPL99), 42.5mm (SSK047)
Case Thickness: 12.1mm (SRPL99), 13.6mm (SSK047)
Case Material: Stainless steel (coated black for the SSK047)
Movement: Seiko Caliber 4R36 automatic (SRPL99), Seiko Caliber 4R34 GMT automatic (SSK047)
Water Resistance: 100m
Limited Edition?: Yes, 7,000 pieces each
Pricing & Availability
Limited to 7,000 pieces each, the SRPL99 diver and SSK047 GMT are priced at £330 (~$439) and £470 (~$625) respectively. Both models are available for pre-order now through Seiko’s boutique and international sites, with deliveries scheduled for September.
Recap
Seiko 5 Sports x Pepsi Watches
After decades of perfecting the unofficial Pepsi-style bezels, Seiko finally partnered with the soda brand, officially, on a pair of 5 Sports watches.
