Presented in 1976, when Model 5402 of 1972 was the only Royal Oak on the market, Model 8638, also available only in steel, was intended for a female clientele. Equipped with the small selfwinding Calibre 2062 (Rayville – LeCoultre blank), it features all the characteristics of the original Royal Oak, with the exception of its smaller 29 mm diameter. From 1977 onwards, Model 8638 was interpreted in two-tone and yellow gold versions. The first white gold version followed in 1978.

Its total production run amounted to approximately 3,889 timepieces, mainly between 1976 and 1980, although sales continued until around 1990.

Named "Royal Oak II", some versions even bear the engraving "Royal Oak II" on the back.

Some of the first 130 Royal Oak 8638s do not have a small number.

From the 1980s, the model was gradually replaced by variants equipped with quartz movements.

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