Titan Damas Acquisition has set the stage for what could become one of the biggest transformations in the global jewellery market. In a strategic move that surprised many, Tata Group’s Titan Company Limited announced its largest international acquisition by buying a majority stake in Dubai-based Damas Jewellery.
This groundbreaking deal marks a significant expansion of Titan’s global footprint, especially in the luxury jewellery space across the GCC region. But what does this move signify, and why did Titan choose Damas?
💼 The Deal That’s Making Headlines
On July 20, 2025, Titan declared that its subsidiary, Titan Holdings International FZCO, signed an agreement to acquire 67% stake in Damas LLC from Qatar-based Mannai Corporation QPSC. The enterprise value of the deal is 1,038 million AED, making it one of the biggest international buys by an Indian luxury retail brand.
The remaining 33% stake could be acquired by Titan by the end of 2029, subject to conditions. This two-phase acquisition allows Titan to strategically absorb the business and integrate operations over time.
Titan aims to complete the transaction by January 31, 2026, once it clears regulatory approvals.
🏢 Who is Damas Jewellery?
Founded in 1907, Damas is a household name in the Middle East jewellery market. With its headquarters in Dubai and a strong presence across 146 stores in GCC countries — including Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain — Damas is known for blending craftsmanship with modern luxury.
Damas’ reputation for quality and innovation made it an ideal choice for Titan to establish a dominant position in international jewellery retail.
🌐 Why Titan Chose Damas
According to Titan’s MD, C.K. Venkataraman, the Titan Damas Acquisition aligns with their vision to expand globally beyond the Indian diaspora. After the successful launch of Tanishq in the GCC and US, this move will allow Titan to connect with new cultures, markets, and communities.
He further stated, “Damas has a rich heritage, iconic presence, and a reputation that complements our values. This partnership helps us build a more global brand.”
📊 What It Means for Titan’s Business Strategy
This acquisition is not just about expansion — it’s about synergy and scaling. Titan plans to fund the Damas buyout through a mix of debt, internal reserves, and cash, while optimizing talent, retail infrastructure, and supply chain capabilities.
The move also fits into Titan’s long-term strategy of becoming a global leader in the luxury jewellery segment.
💬 What Does Mannai Say?
Mannai Corporation, which acquired Damas in 2012, is now divesting the brand to focus more on its IT and trade ventures.
Group CEO Alekh Grewal stated, “We’re proud to pass Damas into the hands of Titan. Their values align with ours, and we’re confident this partnership will take Damas to new heights in the GCC.”
💹 Titan Shares React — What Investors Should Know
Ahead of the announcement, Titan shares closed at ₹3,428, up by 0.74%. While short-term market movement remains cautious, long-term investors are optimistic. Analysts believe the Titan Damas Acquisition may lead to enhanced brand value, higher margins, and global retail dominance.
This acquisition could also trigger increased investor interest in Indian luxury stocks, especially as more Indian companies look to expand overseas.
🔍 Final Thoughts: Titan’s Global Dreams Just Got Bigger
With the Titan Damas Acquisition, Tata Group has sent a strong message — India’s leading brands are ready to take on the global luxury market. By acquiring Damas, Titan is not only securing a major slice of the Middle East jewellery business but also paving the way for a new era of Indian-led global retail excellence.
If this deal pans out as expected, it could redefine how Indian brands are perceived across the globe.
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