It’s late for HMT

Time has simply run out for a well-known Indian watchmaker.

An advertisement for HMT watches. The Indian company, which is also known for manufacturing farm machinery, has ceased mass production of timepieces. Courtesy HMT

There was a time when the term “HMT” was almost synonymous with “watch” in India. But HMT products were also much more than that – an ideal gift for a child who did well in exams and an object that a father would be proud to pass on to his son.

Unfortunately, the world shows little sympathy for those who fail to adapt to changing times and despite being one of India's iconic brands, HMT has lost its battle for survival. As The National reported yesterday, the company will shut up shop after being set up more than 50 years ago.

In the early 1980s, the Swatch Group, which manufactures brands such as Omega, Rado and Tissot, faced a similar catastrophe, until the entrepreneur Nicolas Hayek came to its rescue. He realised that the company had become absorbed in the technology of producing watches rather than focusing on the elements that would make customers want to buy them. Instead of competing with cheap quartz watches as mere timepieces, he elevated his products into aspirational items of jewellery.

For a generation being raised on smartphones and “wearable technology”, a wristwatch represents an expression of individual style rather than being just a timepiece. HMT made the mistake of seeing itself only as a watchmaker.