Yes! It does.If you want to know how to reset Apple Watch without a paired phone, you can follow the steps below to erase the watch’s content and restore it to factory settings.
1. On your Apple Watch, tap Settings > General > Reset >Erase All Content and Settings.
B. Directly on Watch:
2. Enter the password
3. For cellular models, choose to keep or remove the plan
4.Select Erase All to erase all content and settings. This action returns your watch to factory setting
Note: If you erase Apple Watch without iPhone, it will not remove the Activation Lock. If you want to remove it, you have to unpair Apple Watch using the iPhone as illustrated above