Titan's Bold Move: Acquiring Majority Stake in Damas Jewellery to Expand GCC Presence
Titan, India's leading branded jewellery maker, plans to acquire a 67% stake in UAE-based Damas Jewellery in an all-cash deal. This strategic acquisition will enhance Titan's position in the GCC jewellery market, allowing access to new clientele while leveraging Damas' esteemed brand legacy and widespread network.
- Country:
- India
Titan, a frontrunner in the Indian jewellery sector, has announced its plan to purchase a majority stake in the UAE-based Damas Jewellery. This bold move is set to strengthen the Tata group-owned company's footprint in the Gulf Cooperation Council (GCC) nations.
The acquisition, which involves Titan Holdings International FZCO signing a definitive agreement with Mannai Corporation, is valued at an enterprise value of AED 1,038 million. Titan aims to complete the transaction by January 31, 2026, contingent upon regulatory approvals.
This acquisition aligns with Titan's global expansion strategy, offering a prominent position in the GCC's lucrative market. The prestigious Damas brand will bolster Titan's offerings, meeting the high demand for culturally resonant designs. This deal is expected to bring significant synergy benefits in talent and supply chain networks.
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- Titan
- Damas Jewellery
- acquisition
- GCC
- countries
- Tata Group
- jewellery
- market
- expansion
- sales network
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