Rolex GMT-Master II After the Discontinuation of the 'Pepsi': A Comprehensive Guide to Current Models

The End of an Era: The 'Pepsi' Discontinuation

For decades, the Rolex GMT-Master II has been synonymous with its iconic red-and-blue 'Pepsi' bezel, a design that paid homage to the brand's aviation heritage and the spirit of long-haul travel. However, as of 2026, Rolex has officially retired this beloved colorway across both the Oystersteel and 18k white gold 'meteorite' dial versions. While purists mourn the loss of what many consider the collection's soul, Rolex has strategically introduced a wave of new bezel colors in recent years to fill the void. This article explores the current GMT-Master II lineup, offering insights into each model's character and appeal.

The Sprite: A Bold New Icon

Oystersteel (Ref. M126720VTNR-0001)

Introduced in 2022, the 'Sprite' has quickly become the frontrunner to succeed the 'Pepsi' in popularity. Its green and black bezel leverages Rolex's deep association with the color green, a hue that has propelled models like the 'Hulk' Submariner and the 'Green Dial' Daytona to cult status. But the Sprite offers more than just a striking color combination: it is the first GMT-Master II, and indeed the first modern Rolex, to feature a crown on the left side of the case, catering to left-handed wearers. This 'destro' configuration has generated immense buzz and set the Sprite apart as a true collector's piece.

18k White Gold (Ref. M126729VTNR-0001)

In 2025, Rolex extended the Sprite lineup with a luxurious 18k white gold variant. This version features a dark green dial, a subtle yet significant departure from the black dial of the steel model. The green dial not only enhances the watch's visual richness but also serves as an immediate indicator of its precious metal composition, offering a discreet way for connoisseurs to recognize the elevated status of this timepiece.

The 'Oystersteel' Gray-Black: A Nod to the Past

Two-Tone Rolesor (Ref. M126713GRNR-0001) and 18k Yellow Gold (Ref. M126718GRNR-0001)

For those who prefer a more understated aesthetic, the 'Gray-Black' bezel, affectionately nicknamed the 'Oystersteel' (a play on words), offers a sophisticated alternative. The bezel's gray and black hues are so close in tone that the transition is subtle, creating a monochromatic effect that echoes the single-color bezels of the past. However, this is not a simple retro design; it is a modern reinterpretation that pays tribute to the GMT-Master's heritage. The initial releases in 18k yellow gold and Rolesor (steel and gold) feature gold numerals on the bezel and gold accents on the hands, exuding a sense of opulence.

Oystersteel (Ref. M126710GRNR-0003)

Recognizing the demand for a more accessible version, Rolex introduced the gray-black bezel in a full Oystersteel case in 2024. This model tones down the luxury, offering a more versatile and tool-watch-like appearance. The only splash of color comes from the green GMT hand, a clever homage to the legendary 'Pepsi' and a subtle link to the brand's identity.

The Root Beer: A Rare Precious Metal Offering

Introduced in 2018, the 'Root Beer' (also known as 'Sarsaparilla' in some markets) is one of the most sought-after GMT-Master II models due to its exclusive use of precious metals. The brown and black bezel, reminiscent of the classic soda, is available only in 18k Everose gold (Ref. M126715CHNR-0001) and Rolesor (Ref. M126711CHNR-0002). This warm color combination evokes vintage Rolex designs from the 1970s, making it a favorite among collectors who appreciate a touch of nostalgia. The Root Beer's scarcity and unique aesthetic ensure its place as a standout in the current lineup.

The Batman: A Modern Classic

First introduced in 2013, the blue and black 'Batman' bezel (Ref. M126710BLNR-0002) was a revolutionary addition to the GMT-Master II line, being the first to feature Cerachrom in a two-tone configuration. Its popularity has only grown, and it remains a direct competitor to the departed 'Pepsi.' The Batman's cool tones and versatile design make it a favorite for both casual and formal wear, and it stands as a testament to Rolex's ability to innovate while respecting tradition.

Which Will Fill the 'Pepsi' Void?

The discontinuation of the 'Pepsi' has left a significant gap in the GMT-Master II lineup, but Rolex has cleverly positioned its newer models to capture the attention of enthusiasts. The Sprite, with its bold green and left-handed crown, is arguably the most distinctive successor. The Root Beer offers a touch of vintage luxury, while the Batman remains a steadfast classic. As the market adjusts, it will be fascinating to see which model emerges as the new icon. For now, the GMT-Master II collection is more diverse than ever, offering a colorway for every taste.