Tuesday, 17th January 2006 (3968 views)

Indian gold watch manufacturer, Hindustan Machine Tools (HMT), has contracted the services of a marketing company to revive the flagging fortunes of its watch division.

The tie-up with Godrej & Boyce came into effect today, after chairman, M S Zahed succeeded in convincing the company's board and stakeholders of the wisdom of the move.

The companies also decided to use this moment to launch three new ranges of watches, each targeting a different market segment.

The first, Sona Quartz, is plated with 24-carat gold and comes with a stylish leather strap, while InoxGold is made of oxidisable steel and gold, with a two-tone finish suitable for evening wear.

The "Automatic" brand, meanwhile, is designed to appeal to the eco-friendly generation as it is self-powered.

Mr Zahed confirmed that that HMT was undergoing a process of transformation, spanning administrative, financial and product management operations.

The firm has sold over 100 million watches to date, as well as other machines ranging from tools to tractors.

 

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