One of the fatal flaws impacting charges of "cultural appropriation" can be found in the definition itself. Assuming, of course, that the one who literally wrote the book on the matter can be taken literally.
Who Owns Culture? Appropriation and Authenticity in American Law by Susan Scafidi defines cultural appropriation as “taking intellectual property, traditional knowledge, cultural expressions, or artifacts from someone else’s culture without permission. This can include unauthorised use of another culture’s dance, dress, music, language, folklore, cuisine, traditional medicine, religious symbols, etc.”
That part about "without permission" is an open ended invitation. If I wanted to market a Qipao I can do so provided I have permission to do so and I in fact do. A lovely Han Chinese of my acquaintance is OK with it. If she wasn't I assume I could simply go down a list of Chinese friends until I got one to permit the action. It's not like Ms. Scafidi provided us with much of a guideline as to who exactly can offer this permission.
In the case of the Timex it is abundantly clear that Keone Nunes has provided explicit permission to incorporate the design elements. As a consequence anyone claiming cultural appropriation is a douchbag and can be safely ignored. Though nothing can prevent the formation of a twitter-mob.