Original plastic packaging.
The original wristband was made of ribbed plastic. A different non-ribbed style has been seen online, probably an aftermarket addition.
The watch was listed in the 1987 Walt Disney Family Gift Catalog (p.3). Retail $19.95.
Catalog page courtesy of the François Monferran Collection.
A similar Lorus plastic watch dates from about the same time period but lacks the Golden Anniversary text. Features a slightly different illustration, one that is also found on the Lorus wall clock.