Jaeger-LeCoultre

time2tic
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several possible answers

JLC has been around for more than 175 years has engineered and designed more than 1000 calibres, and has provided famous brands with calibres to equip their watches (although these brands are usually quite about that).
the recent incredible masterpieces such as duometre, tryptique, gyrotourbillon, and now hybris mecanica show how ingenious this brand can be and demonstrate that they are capable of manufacturing watches with any sort of quality level from " very high" to super very high (now how high is the sky of patek or Lange is to a certain extend a matter of personal judgment).

the price range of JLC goes from luxuous " affordable" watch, to "you need to crack a bank" level. What I find interesting is that the value for money (imho) is always very high. While some of the watches woudl cost the price of my appartment, the amount of work required to design, engineer, test and make these mechanical marvels is to a certain extend proportional to the price tag. Of course, the rarity and the "uniqueness' of super high complications will be sold at a premium which, in some occasion is possible to question, but, in the end, if the very high watches of the brand are very expensive, this is good for the more modest collectors as the company won't need to have even higher margins on more affordable models.

in terms of competitors, I would think that they are definitely competiting with Patek, Lange and VC, IMHO. but each of these competitors seem to have a more restrictive range of products, prossibly a smaller number of watches produced per year, and eventually, fewer new complications coming to market in the recent years.

Patek is the king of auctions and JLC is definitely not there in that sector. The vintage JLC are mostly reaching modest levels in public auctions. I like that! as I endeavoured to start collecting vintage JLC watches and, had they been lange or patek, I would surely be looking at far less pieces in my box than with JLC.

Issuing soon the most complicated wristwatch ever manufactured so far by any brand is to me a clear strategic message that JLC wants to lead and this should hopefully push a handful of brands in a competition where amateurs like us will have a lot to enjoy and discover (even if we are going to have to find a way to win the lotery several times in a row now).

regarding the "luxury brand for the masses", I'd say that a brand with a crown emblem is producing a million watches per year, compared to the possible 60,000 watches of JLC. The crowned one is the luxury brand for the masses.
Having said that, nobody can ignore the importance of markteing in our world nowadays and luxury products do come with very specific marketing plans which tend to expend the markets by providing "luxury for the masses". Again, if the company is focused on quality, has a way to sell well their entry level products and have the ethic not ot super overcharge for the higher end products, then I am surely fine with that sort of luxury for the masses.

in terms of watches, 90-95% of the world is wearing a cheap quartz watch.