This GQ article gives more insight into the origin and rationale of this reissue:
TAG Heuer’s new Formula 1 x Kith collab is resurrecting a stone-cold '90s classic | British GQ (gq-magazine.co.uk)
Some interesting excerpts:
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The partnership started, as so many great things do, over dinner. On one fortuitous occasion, Fieg had been seated next to Frédéric Arnault, then the CEO of TAG Heuer. Never one to miss an opportunity to keep Kith at the centre of the conversation, Fieg turned to Arnault and espoused his adoration for the Formula 1, the watch from his childhood. “Having one of those meant a lot in the ’90s, and this was the watch that I wanted,” says Fieg. Later that night, he even dug out an old photo of himself as a teenager with a Boy Meets World kind of hairdo and a red-and-black Formula 1 on his wrist to show Arnault. The pitch came at a golden moment, just as the Formula 1 was having a surge of renewed interest in the watch community, with collectors rushing to eBay to buy them – or digging long-forgotten examples out of storage. A comeback was already on the minds of TAG Heuer’s executives. At an event in March of last year, Nicholas Biebuyck, TAG Heuer’s heritage director, joked, “Oh, no, of course we’re not bringing back a watch that everyone is talking about right now!” Fieg’s childhood memory synced perfectly with the brand’s plans; and shortly after his dinner with Arnault, an official partnership was formed.
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“The relaunch of this watch in its original form will set the tone for a bigger revamp of the TAG Heuer Formula 1 collection in the years to come,” adds Julien Tornare, TAG Heuer’s new CEO. “It has a very strong connection to many people and this relaunch and collaboration is more fun, energetic, and daring than ever.”
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My take on Julien's comment is that this release is intended to hype things up for a new F1 line relaunch. But I doubt a new F1 line will be faithful reissues like these, because that's not "avant-garde".
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