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By Deepti bhat
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In 1961 HMT set up India's first factory formanufacturing
mechanical watches
It was set up in Bangalore
In collaboration with citizen of Japan
It came up with its second unit in 1972 Further HMT set up 14
ancillary unit across India
HMT started with 14000 watches to 80 million in 3decades
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HMTs problem with trade was right from1961.
HMT sold watches only at their 13 offices
The growth of its watches led for theexpansion of service
network, number was over800 by mid 80s
Despite this HMT did not have a system of
carrying out the trade audit This made for wholesale retailers
concept ,
effectively controlling the market
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organized sector small sector
invisible sector
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Until 1970 , Switzerland was an undisputedleader (42 % volume
share & 78% value share)
Next 25 year their was radical changes
The industry saw many new entrances
Raise of Japan, emergence of Hong-Kong anddecline of US watch
industry
In spite of the competition swiss came backstrongly
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It began with the merger of 2 umbrella gaintsand insolvent
watches manufacturer of swiss
It looked at fashion statement They reestablished their
technical superiority
over japan
By 1991, the production was 15.9% of globalvolume and 52.8% of
value share from 38%from 1983
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Retail revolution Integrating backwards
Expanding the scale of scope
Going internationalJewellery range
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In order to revive itself HMT embarked onrestructuring
exercise
In 1994, it made an agreement with ISA quartz offrance.
The co restructured its various business into 4groups:
capital goods
Engineering components Consumer goods
Service
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Since 1995, the multinational players werethe threat
Threats are from , Swiss, Japan and china,hongkong and middle
east alliance
Most of the foreign player are in India onlythrough assembly and
distribution tie up
Titan is raising barriers to the entry of foreign
Competition in every possible way.
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Thank u
