There is a direct relationship in competitive markets... at least for the company as a whole.

There are many reasons why prices are what they are. In this case Veloflex (which I think really are made by Italians) is a small company making high end clinchers and tubulars essentially the same way they were done decades ago... with minimal advertising and R&D. They pay higher salaries but otherwise have low overhead. They probably could not sell their tires for less and still make a profit.

Vittoria is a bigger company with many types of tires and price points. The cheaper tires are by far their highest volume and where they make the most money... even though the margins are smaller. Their hand made high TPI tubulars and clinchers are a fringe part of their business. Since they are paying less for this hand labor, they could probably undercut Veloflex's price... but there is no good reason to. If they were cheaper, the public would view them as inferior... plus they'd start crowding into the prices they have for their other tires.

It is also a major misconception that cheap foreign labor results in huge cost savings, when at the retail level it is typically only a few%.