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Cartier came up with this in their Cartier Santos I think in 2018 to swap steel and leather. And a few months back so did Oris for their new diver.
These certainly look nice, but with bracelets coming into my shop after years of use, completely packed with dirt and grime, I really wonder how this is going to hold up long term.
I'm all for a quick-release system, but from a purely engineering point of view, this implementation seems problematic. Like Pazzo said, if (when) it jams, you can only tear the rubber. With the steel bracelet could even be more painful....
I rather like Christopher Ward's implementation better. Simple and easy to disassemble if it jams.
Vacheron also has a no-tools, quick-release bracelet changing system for certain models. Different implementation than Omega's trigger-release spring bars, and seems maybe more secure than Omega's system.