There's talk of an Apple Event in March, possibly with some new bits for the watch (almost certainly NOT Watch 2, but perhaps new bands or case colors). My guess is that the band does exist and will be released then. Though Apple is kinda famous for bringing cool products right up to production-ready and then cancelling them because they weren't 100% happy, or even just they were preoccupied with something else - so you never know for sure until Apple senior management holds it up on stage and /or it shows up on the apple.com front page.