The film premiered on Saturday 24 August via the band’s Vevo channel, where it has already received 1.8 million views. The 60-second ad will air in cinemas globally from Friday 30 August.
Cake conceived and created the ad, and is handling the PR and social media activity. Vaughan Arnell, who has previously worked on One Direction music videos, directed the film through Stink.
The ad shows the band smelling flowers, berries and oranges to a version of 'My Favourite Things' from 'The Sound of Music', sung by fellow' X Factor'-star, Diana Vickers.
The camera then pans out to show band members Harry and Louis throwing the gently falling flowers out of buckets.
The ad becomes increasingly comical as Niall accidentally smells Liam’s sock, Harry is caught in an aggressive wind machine, and the band mess around on wheelie chairs.
The closing scene shows the band crowded around the perfume bottle on a white plinth, before Louis grabs the bottle and runs off with it, the other boys staring after him.
Mark Whelan, the Cake founder and the creative director on the campaign, said: "The band were very clear in meetings that they were not going to do any staged schmaltz. We just gave them some props and they did the rest."
'Our Moment' has generated $100 million (£64.5 million) in retail pre-orders since being unveiled at The Gherkin in June. It went on sale in the UK exclusively in Harrods this week, and will be available nationwide from 2 September.
The perfume was created in conjunction with Eden Parfums and fragrance experts Firmenich.
Faye Langworthy, the fragrance license manager at One Direction’s management company, Modest!, said: "The guys had such a great time on set with all the props – Liam’s sock being a particular highlight! They are so proud of their fragrance and wanted to create a film to support the launch that their fans would love to watch and share."
The launch of the perfume coincides with the release of the One Direction film, 'One Direction: This is Us'. The Yahoo! live stream from the red carpet at the premiere last week was streamed more than 1.5 million times and shared 163,000 times on Twitter.