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What happens when a watch brand makes a Pepsi with Pepsi? You get one of the most meta collabs watch culture’s ever seen.

Collectors have been calling red-and-blue bezels “Pepsi” for decades, first with Rolex’s GMT-Master II, then Seiko’s cult-favorite SKX dive watches from the ’90s. But now the soda brand itself is crashing the party, teaming up with Seiko for a limited-edition release that turns collector slang into literal canon.

And yes, it comes in a can.

The Seiko 5 Sports x Pepsi collab includes two models: a 42.5mm GMT and a 38mm diver, each limited to 7,000 pieces. The GMT leans modern with a black PVD case, rubber strap, and current Pepsi branding on the dial. 

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The diver throws it back to the ’90s with a brushed steel bracelet, silver-white dial, and retro Pepsi logo, the exact one from your childhood soda cans. Both arrive in collector-bait packaging styled like Pepsi cans to match the era they channel. Beyond the aesthetic appeal, this is a crossover moment for watch culture, one where fan-made nicknames get co-signed by actual brands.

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Sure, it’s like when your mom didn’t want to pay full price for Pepsi and brought home the off-brand instead. But ask yourself: Would you really spend $20,000 on a Pepsi when you can get the same sip for a fraction of the price? This time, the so-called off-brand made the real thing, and it might be better for it.

Like Timex’s IYKYK series with watch artist seconde/seconde/, this collab blurs the line between meme and manufacturing. Seiko isn’t just making a “Pepsi” watch. It’s making the Pepsi watch.

Both models are available now via Seiko’s international websites, priced between $439 and $625 depending on the version.

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