TAG Heuer has made the Carrera Chronograph x Team Ikuzawa official, and the second collaboration feels more focused than a simple sequel. The new ref. CBS221M.EB0435 moves the idea into the modern 39 mm Carrera Glassbox case, keeps the red-and-white Team Ikuzawa racing language, and limits production to 150 individually numbered pieces.

Official full front view of the TAG Heuer Carrera Chronograph x Team Ikuzawa CBS221M.EB0435
Official full front view of the 39 mm TAG Heuer Carrera Chronograph x Team Ikuzawa, reference CBS221M.EB0435.

What launched

The official TAG Heuer product page lists a 39 mm brushed and polished steel case, 13.9 mm thickness, 100 m water resistance and a steel seven-row bracelet, with two additional straps included. The price shown on the US product page is $10,500.

The dial is where the collaboration earns its place. TAG Heuer uses a white Clou de Paris surface framed by a black 60-second flange, printed indexes, red accents on the minute counter and central chronograph hand, and an angled date at 6 o'clock. The Team Ikuzawa signature sits low on the dial, giving the watch a stopwatch-like, motorsport-instrument character.

Official side profile of the TAG Heuer Carrera Chronograph x Team Ikuzawa
The official side-profile image shows the domed Glassbox crystal and the red ring on the crown.

Movement and collector angle

Inside is TAG Heuer's in-house Calibre TH20-10, an automatic chronograph movement with 80 hours of power reserve and a 4 Hz frequency. TAG Heuer lists hours, minutes, seconds, chronograph with 1/4-second timing and a 30-minute counter; secondary reporting also notes the 12-hour counter at 9 o'clock and the absence of a running-seconds display.

That last decision matters. By removing the usual visual clutter and leaning into the red printed graphics, TAG Heuer makes the watch feel closer to a timing instrument than a standard luxury chronograph colorway. For collectors, the appeal is the tight run, the Glassbox base, and the way Team Ikuzawa's Japanese racing identity gives the Carrera story a specific cultural hook.

Official caseback image of the TAG Heuer Carrera Chronograph x Team Ikuzawa
Official caseback image with the TH20-10 movement visible through sapphire.

Horomag take

This works because TAG Heuer did not just scale down the older idea. The 39 mm Glassbox proportions make the watch more disciplined, while the white textured dial and red racing details give it instant identity. At 150 pieces, it is not a broad commercial play; it is a precise collector drop for people who understand why Carrera, Japanese motorsport and Bamford belong in the same sentence.