HMT sold Rs 35 lakh watches in a single day on Independence Day

On Independence Day, HMT's Bengaluru outlet saw a queue stretching nearly two kilometres as people waited for hours to buy limited-edition watches. The state-run company sold watches worth over Rs 35 lakh in a single day, according to Union Minister HD Kumaraswamy. More than 2,000 limited-edition pieces were sold within hours, with the Gandaberunda edition being the first to sell out.

HMT, once India's dominant watchmaker controlling nearly 90 percent of the market in the 1970s and 80s, shut its watchmaking unit less than a decade ago. The brand, known for mechanical models like the Pilot, Kohinoor, and Janata, was founded in 1953 as a machine tools manufacturer. It entered the watch business in 1961 in collaboration with Japan's Citizen Watch Co. and produced over 115 million watches over its lifetime.

The company's market share eroded after Titan entered the market in 1987 with quartz technology and fashion-focused designs. HMT's revival effort this Independence Day saw customers lining up for hours, a contrast to its earlier years when buyers had to wait months on waitlists.