by Asmita S. B.
HMT-the closure of an iconic brand:
HMT a reputed watch brand recently decided to stop its functional operations owing to a loss of over 1500 crores in a span of 20 years. Its operations started 53 years earlier in 1961. At its peak, this watch brand made an annual sales of Rupees 300 crore. From 1994 However it went into losses and never recovered. Hence finally it was shut down.