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Business News: Gallet’s Return Heralds Renewed Battle For Mid-Tier Priced Watch Segment
Backed by Breitling's House of Brands group, Gallet's return was hotly anticipated and closely scrutinized. Priced between $2,900 for a three-hand Flying Officer model with date and about $6,700 for the vintage-inspired 'Classics' models, replete with Breitling B09 hand-wound calibers, the revived brand's pricing at Breitling boutiques is certainly aggressive. Gallet's rebirth and price-category decision mark the most high-profile and ambitious attempt by the Swiss watch industry to reclaim a space it once owned but has largely ceded in recent years to so-called 'boutique' or micro-brands that have filled the gap left by traditional Swiss brands moving upscale.Over the past decade, brands have climbed the value-category ladder even higher, making fewer watches at higher prices. The so-called mid-tier premium—or luxury watches with an MSRP between $2,000 and $5,000—was once dominated by Swiss brands from Omega to Breitling to TAG Heuer and Jaeger-LeCoultre. And while TAG Heuer still produces plenty of watches in the category, including the solar-powered quartz Formula 1, much of its development and marketing resources have been focused on new pricier versions of classic chronographs housed in titanium or other lightweight materials including the highly innovative, but eye-wateringly expensive, Monaco 'Evergraph' retailing at more than $28,000. Several of the new Gallet watches are available on a steel bracelet that is the same used on some Breitling models. Photo Cre...
