I’m very surprised a watch as expensive as that uses nickel, which is a known allergen, instead of stainless steel, which even the cheapest Casio digital watches use. Are you sure it isn’t just where the watch is a bit tight, and you’re getting a sweat rash underneath? I have a cheap Bell & Ross knock-off, with the rubber/silicon type band, and my wrist got very red and itchy under the strap, to the extent I stopped wearing it, it was unbearable.
The watches I wear now have either leather or stainless mesh straps, and I don’t have a problem, however I do wear a G-Shock occasionally which has a mod allowing a nylon NATO strap, and I can get an itchy red patch underneath that, despite it being nylon against my skin; I tend to have it fairly tight, it’s not comfy if it’s loose fitting.