Hello everyone, this is Bokey Watch. The Rolex GMT-Master II with the red and blue “Pepsi” bezel has always been one of the most popular watches. There have been many replica versions of this model. In the past, the best in terms of craftsmanship — and also the most expensive — came from the N Factory. However, N Factory has now collapsed and hasn’t released any new stock for over half a year. Meanwhile, other factories have entered the market, but their quality varies. So, for watch enthusiasts looking to purchase a GMT Pepsi replica, which factory should they go for? Recently, C Factory — also known as Clean Factory, the same brand that originally became known for its Submariner “Hulk” aftermarket bezel inserts — has released its own version of the GMT Pepsi. We’ll refer to it as C Factory GMT for short. Today, we’ll take a look at the C Factory GMT-Master II with red and blue bezel, and evaluate its overall build quality — especially whether the bezel matches the color tone of the genuine Rolex.

Comparison Review: Clean Factory Rolex GMT-Master II “Pepsi” – Jubilee Bracelet vs. Oyster Bracelet

Before N Factory shut down, their GMT-Master II “Coke” was considered the best on the market, with the most accurate and true-to-original colors. Since N Factory’s closure, no truly impressive Pepsi bezel GMT models have emerged. Many watch enthusiasts are puzzled — why can factories like Clean succeed with models like the Submariner or Daytona, but struggle with the Pepsi GMT? The real challenge isn’t the movement. After all, the 3186 movement used in the GMT-Master II was developed years ago and has proven to be quite stable. The real difficulty lies in the ceramic bezel color. Ceramic is extremely difficult to fire and produce consistently, and even relatively simple colors like green are hard to perfect — yet Clean Factory managed to create the most accurate green ceramic bezel on the market. This is exactly why many people have confidence in Clean Factory’s red and blue ceramic bezel: their past success shows they can handle the challenge.

This GMT-Master II “Pepsi” from Clean Factory features a standout characteristic: its red and blue bi-color ceramic bezel — with red representing daytime and blue representing nighttime. Producing Rolex’s dual-color ceramic bezels is extremely challenging, as it requires precise control over both colors and, most importantly, the sharp boundary where they meet. Many factories struggle to get the colors right — often the red ends up too bright, or the blue shifts in tone. In reality, the Pepsi bezel is meant to have a relatively darker and more subdued color palette — it’s not designed to look flashy or overly vibrant. The best version in the past came from the now-defunct N Factory. But with Clean Factory stepping in, N Factory is now out of the picture. Clean Factory initially made its name by mastering the green ceramic bezel on the Rolex Submariner “Hulk,” and that same expertise is clearly reflected here. Their bezel colors are the most accurate, and — crucially — the transition between red and blue is clean and seamless, with no visible tooling marks or gaps. At present, Clean Factory is the only manufacturer on the market to match the genuine Rolex bezel craftsmanship this closely.

The Rolex GMT-Master II “Pepsi” produced by Clean Factory features a 40mm case size, making it very suitable for the wrists of many Chinese wearers. The overall color scheme is the classic red and blue. The watch uses a scratch-resistant sapphire crystal on the dial. At the 3 o’clock position, there is a small magnifying lens (Cyclops) that makes reading the date easier. Four polished hands are arranged on the black dial. The inverted triangle at 12 o’clock aligns perfectly with the small crown in the center. The date display is clear and easy to read. Additionally, the red GMT hand stands out prominently, which is a signature feature of the GMT-Master II series.


The Clean Factory “Pepsi” GMT-Master II features an Oyster case crafted from 904L stainless steel, making it sturdy and wear-resistant. After the upgrade, the ceramic bezel markings are much clearer. The spacing and texture of the scale match the original genuine watch exactly. The finish has a great luster, giving it a bright and polished appearance.

The bezel can rotate bidirectionally and is engraved with 24-hour markings, which means this Pepsi bezel features GMT functionality, allowing it to display three time zones — something ordinary GMT watches cannot match. The inner dial uses black fonts. The hour markers at 9 o’clock and 6 o’clock are rectangular, while the 12 o’clock position features an inverted triangle design with the Rolex crown logo embedded below it. The fonts are clear and natural, with a strong three-dimensional effect, demonstrating an impressive level of craftsmanship. At 3 o’clock, there is a date window, which is very striking. The red GMT hand is also a unique style exclusive to GMT models. Overall, the dial exudes a perfect sense of quality.

With the usual large three-hand design, all the hands and hour markers of the dial are filled with a high-intensity luminescent effect, which complements the black color at a glance. The black dial is full of texture, with polished white indexes and a triangular tip that aligns with the center of the small crown. The silver metal edging is very fine. The more special is the red pointer, which is called GMT. Clockwise is to adjust the calendar, and counterclockwise is to adjust the position of the GMT hour hand individually. Below 6 o’clock, the small crown concealed in the sapphire crystal is also clearly visible, and the laser dot is magnified to look exactly like the original.

The sides are perfectly curved and the chamfers are polished very carefully. There are shoulder pads on the left and right sides of the crown, and the logo engraved on the head is clearly visible, and the engraving is delicate and clearly visible, and the feel is three-dimensional. The screw-down crown design, triple lock triple waterproof, the waterproof performance of the clean factory is very good, and there is no problem swimming in the water in the summer. The bottom cover is designed with a dense bottom, the bottom cover has uniform toothing and moderate depth, and the shell and bottom cover are treated with exquisite wire drawing process, and the corners are polished smooth and rounded.

The movement is equipped with Shanghai 3186, this movement does not need to be introduced too much, because this is a more classic replica movement, which has been used in the Greenwich of the N factory for many years, with particularly strong stability and high precision.


The Clean Factory Rolex GMT-Master II “Pepsi” comes with two types of bracelets: the Jubilee (five-link) and Oyster (three-link) styles, both featuring a folding clasp. All materials are forged from 904L stainless steel, the same as the original. The bracelet feels smooth to the touch and is full of texture. Each link is flexible and finely crafted. The engravings of logos and text on the clasp are clear and well-defined.

The small crown logo engraved on the clasp is in sync with the original. The refined functional structure reflects the high level of production technology. Very flattering, comfortable to wear and snug on the wrist.


Clean Factory (C Factory) GMT-Master II “Pepsi” Jubilee Bracelet video — real watch footage, about 8MB in size. Please be patient while it loads.
Clean Factory (C Factory) GMT-Master II “Pepsi” Oyster Bracelet Video
Overall, although the Rolex GMT-Master II “Pepsi” bezel is very difficult to replicate, after many manufacturers’ attempts, it has reached a commendable level. There’s no need to worry too much about color differences. Of course, this watch is not cheap — it’s in a completely different league compared to those using aluminum bezels sold as ceramic.
So far, the GMT-Master II “Pepsi” produced by Clean Factory (C Factory) has been widely recognized by the market since its release. It is also the best replica GMT currently available, with almost zero color difference. If you are pursuing perfection, this is definitely worth considering.