HMT sales soar as govt prepares shutdown of nation’s timekeeper
23 Sep 2014 12:10 AM GMT
After the 16 September announcement that HMT is set to shut down, company outlets across the country have reported massive spurt in sales. In a last minute frenzied rush, it is being noted that not only the collectors but general public too is buying watches which once defined the ‘Made in India’ brand.
In one such outlet, sales have zoomed to more than five to six lakh of rupees in the last few days. Known for its mechanical watches, the company has sold maximum units of Janata, Sona and Pilot. In addition to these, connoisseurs have also gone a step ahead to source some very rare pieces in Skeleton, Chinar and Tariq.
While most of the watches in demand are out of stock, store employees say that the Ranibagh facility near Nainital, Uttarakhand still has some stock left to be sold. ‘We are expecting it any day and we know it is going to be sold as soon as it hits the market,’ said an employee.
The Ranibagh facility is Uttarakhand’s biggest PSU and after hearing the woes of the HMT employees there, former Uttarakhand chief minister Bhagat Singh Koshiari had also written to union minister of heavy industries and public enterprises, Anant Geete. Nobody knows what happened thereafter. ’
Delhi-based watch collector Puneet Gugnani says, ‘On the one hand the government is promoting the ‘made in India’ brand and on the other iconic Indian brands are being made to shut down. Why is the approach so dual faced, I do not understand?’
Gugnani who owns more than 100 pieces of about 45 models of different watch brands has, recently, as part of the massive ‘clearance’ sales brought 4-5 Pilot watches and a golden body Skeleton too. ‘A friend in Mississippi, United States, has made me source some very rare pieces for him,’ Gugnani adds.
Talking of his love for HMT watches, Gugnani said, ‘While most Indians by habit rush for international brands these days, it is foreigners who know the real value of these immaculate pieces of craftsmanship. I have many known friends who have been buying HMT watches.’
It may be noted here that HMT watches was established in 1962 as a joint collaborative effort with the Japanese watch brand Citizen. Former Indian prime minister Mrs Indira Gandhi and late Soviet president Leonid Brezhnev were among many politicians worldwide who were known admirers of
HMT watches.
HMT lost out on its market share after the Tata group brought out the Titan brand, which was slick and reached out with a wider marketing network. However, in the words of aficionados like Gugnani, ‘Titan may have captured the market but the quality of HMT was nowhere to be found. HMT watches were made with such precision that they can last a lifetime without developing any kind of snag. Hand wound, there is absolutely no competition to the quality that HMT gave.’
However, for the employees, things have never looked bleaker than they do right now. They were shifted out from the Jeevan Tara building at Patel Chowk to a dingy shop in Connaught Place, which made sales completely dip. The Jeevan Tara building was known for the HMT outlet; the other being in Khan Market. People from all walks of life used to come and purchase watches from there. While the Khan Market outlet shut somewhere in 2005-2006, the Patel Chowk outlet closed in 2010.
In one such outlet, sales have zoomed to more than five to six lakh of rupees in the last few days. Known for its mechanical watches, the company has sold maximum units of Janata, Sona and Pilot. In addition to these, connoisseurs have also gone a step ahead to source some very rare pieces in Skeleton, Chinar and Tariq.
While most of the watches in demand are out of stock, store employees say that the Ranibagh facility near Nainital, Uttarakhand still has some stock left to be sold. ‘We are expecting it any day and we know it is going to be sold as soon as it hits the market,’ said an employee.
The Ranibagh facility is Uttarakhand’s biggest PSU and after hearing the woes of the HMT employees there, former Uttarakhand chief minister Bhagat Singh Koshiari had also written to union minister of heavy industries and public enterprises, Anant Geete. Nobody knows what happened thereafter. ’
Delhi-based watch collector Puneet Gugnani says, ‘On the one hand the government is promoting the ‘made in India’ brand and on the other iconic Indian brands are being made to shut down. Why is the approach so dual faced, I do not understand?’
Gugnani who owns more than 100 pieces of about 45 models of different watch brands has, recently, as part of the massive ‘clearance’ sales brought 4-5 Pilot watches and a golden body Skeleton too. ‘A friend in Mississippi, United States, has made me source some very rare pieces for him,’ Gugnani adds.
Talking of his love for HMT watches, Gugnani said, ‘While most Indians by habit rush for international brands these days, it is foreigners who know the real value of these immaculate pieces of craftsmanship. I have many known friends who have been buying HMT watches.’
It may be noted here that HMT watches was established in 1962 as a joint collaborative effort with the Japanese watch brand Citizen. Former Indian prime minister Mrs Indira Gandhi and late Soviet president Leonid Brezhnev were among many politicians worldwide who were known admirers of
HMT watches.
HMT lost out on its market share after the Tata group brought out the Titan brand, which was slick and reached out with a wider marketing network. However, in the words of aficionados like Gugnani, ‘Titan may have captured the market but the quality of HMT was nowhere to be found. HMT watches were made with such precision that they can last a lifetime without developing any kind of snag. Hand wound, there is absolutely no competition to the quality that HMT gave.’
However, for the employees, things have never looked bleaker than they do right now. They were shifted out from the Jeevan Tara building at Patel Chowk to a dingy shop in Connaught Place, which made sales completely dip. The Jeevan Tara building was known for the HMT outlet; the other being in Khan Market. People from all walks of life used to come and purchase watches from there. While the Khan Market outlet shut somewhere in 2005-2006, the Patel Chowk outlet closed in 2010.
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