I believe you got that one wrong, Rob: IMHO, vintage isn’t something bad that “happened” to the big brands, but they have consciously used their heritage to set themselves apart in the marketplace from the get go in the early 90s...
Heritage/Vintage is what allows TH to command a list price >3k for a Sellita AR, when any Swiss white label manufacturer could also put together a similar watch and sell it at a profit for a fraction of that price.
If you don’t have legitimate horological heritage (cf. Hublot or RM), you have to come up with another USP and your marketing expenses to establish/maintain it are probably going to be even more important.
Therefore, I wouldn’t be astonished to see the Heuer logo make a comeback on some dials under Tornare, especially if the market cools down further (and after waiting a bit, of course, so as not to offend the new Head Of Watchmaking at LVMH)…
😉