Every year, as Watches and Wonders approaches, the rumour mill in the watch world shifts into overdrive. No brands attract more speculation than Rolex and Patek Philippe, and this year the focus has landed squarely on one of the most famous modern sports watches: the Rolex GMTGMT A GMT (Greenwich Mean Time) complication is a feature found in some watches that allows the wearer to track two time zones simultaneously. It typically includes a 24-hour hand and a bezel or a second hour hand that can be adjusted independently of the main hour hand to track the time in a different time zone. [Learn More]‑Master II 126710BLRO.
In recent weeks, collectors noticed that the red-and-blue “Pepsi” variant has quietly disappeared from the online catalogues of several authorized dealers. That observation quickly triggered speculation that the model might have been discontinued. As usual with Rolex, there has been no official confirmation. The watch still appears on the brand’s own website, and Rolex does not comment on production changes before a major launch.
It is worth remembering that this exact type of rumour surfaces almost every year around this time. In the weeks leading up to Watches and Wonders, speculation about discontinuations tends to reach fever pitch, particularly when it comes to highly desirable models. Dealers often receive little advance notice of changes, and temporary catalogue adjustments can easily be interpreted as something more dramatic.
There is also another, perhaps more likely, explanation. Rather than disappearing entirely, the Pepsi GMT-Master II may simply be due for an update. Rolex frequently refreshes references after several years of production, sometimes introducing subtle technical changes, bracelet tweaks, or refinements to the movement or case construction. The current steel Pepsi was introduced in 2018, which in Rolex terms is a long enough cycle to justify a revision.
If that is the case, the watch may return looking almost identical, but with small improvements that Rolex quietly integrates into the lineup. The brand has a long history of evolutionary updates rather than radical redesigns. As of now, the Rolex GMT‑Master II Pepsi is still part of the official collection, and until Rolex presents its new releases at Watches and Wonders Geneva, everything else remains good old speculation.
As noted, the watch world is doing what it does best in early spring: reading tea leaves and debating Rolex. Within a few weeks, Geneva will tell us whether the Pepsi has reached the end of the line, or whether it is simply about to start its next chapter. If anything, I’d say we’re looking at the latter.
Another Spring, Another Rolex Rumor