Panerai is a good example to estimate margins. When they were unknown, watches costed $1-2k. This was in the mid 90s. Same models now, distributed by a big luxu

Panerai is a good example to estimate margins. When they were unknown, watches costed $1-2k. This was in the mid 90s. Same models now, distributed by a big luxury conglomerate, cost 5-10x more. Quality and components on comparable models are virtually the same. Likewise, long ago, Rolex was a toolwatch brand and their products were relatively affordable. They are still great, but prices are insane. Vacheron Constantin is on a different class, though, as they sell lots of watches in the high horology category. Insanely complex and difficult to produce. Some similar brands have had financial issues or gone bankrupt.