HMT expects 25 pc growth
HMT set up a manufacturing unit for hand-wound wrist watches at Bangalore in 1961 in technical collaboration with Citizen Watch Company, Japan. The first hand wound wrist watch was released in July 1961. S. Paulraj, Managing Director, HMT Watches Ltd. spoke to Hindustan Times on a range of issues.business Updated: Nov 30, 2009 00:52 IST
HMT set up a manufacturing unit for hand-wound wrist watches at Bangalore in 1961 in technical collaboration with Citizen Watch Company, Japan. The first hand wound wrist watch was released in July 1961. S. Paulraj, Managing Director, HMT Watches Ltd. spoke to Hindustan Times on a range of issues. Excerpts:
Can you briefly elaborate on the current product portfolio of HMT Watches?
HMT Watches Limited manufactures and markets finished watches, watch movements, modules, watch components, as well as specialised clocks. The product basket in terms finished watches both for men and women, available in all price categories. We have traditional hand-wound watches, automatic day date mechanical watches, contemporary quartz analogue watches branded under various categories.
What have been HMT’s recent introductions?
During 2009, the company has brought out 54 watch models for both men and women priced most affordably at Rs.325 to Rs.345 oriented towards rural market. In line with the current trend, HMT has introduced environment friendly models of high precision automatic day and date watches in the price range of Rs 3,000 to Rs 3,500.
What kind of special watches has the company introduced in recent times?
Recently, HMT Watches Limited has introduced Braille watch for women priced at Rs 450 to cater to the needs of visually-challenged women. The first ladies Braille Watch was launched at a function at Mumbai, organised by National Association for Blind and Rotary Club.
What plans have does the company have for the future?
HMT Watches Limited has drawn up plans for revamping and restructuring of business operations to meet the market challenges. Restructuring strategies include consolidation of operations, increased outsourcing, as well as various strategies in the areas of product mix, manufacturing, etc.
What are the growth projections for the current year?
The company expects a growth of 25 per cent during the current year. The company is in the process of broad basing the market by appointing more dealers, sale of watches through different channels for rural marketing, e- marketing, tie-up with marketing outlets of other organisations’ etc.