US EditionTata-Backed Titan To Buy Dubai Jeweler For $282 Million
DUBAI, UNITED ARAB EMIRATES, JUL 21 – Titan will acquire 67% of Damas Jewellery for $282 million, gaining access to 146 stores across six GCC countries to expand beyond its diaspora-focused market.
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Titan Company buys majority stake in Dubai's jewellery chain Damas for $283 mn
This move aims to expand Titan Company's footprint in the Middle East, joining a league of other homegrown gold and diamond retailers with a presence in the Gulf. Damas Jewellery, founded in 1907, has a network of 146 stores across the 6 Gulf Cooperation Council (GCC) countries.
Titan to Acquire Majority Stake in Dubai Jeweler Damas
Titan Company has signed an agreement to purchase 67% of Dubai-headquartered Damas Jewellery. The acquisition, valued at AED 1.04 billion ($282.6 million), is scheduled to complete before January 31, 2026, Titan said Monday. Damas owner Mannai Corporation will have the right to sell the remaining 33% of the company to Titan after December 31, 2029, the Indian jeweler stated. Damas has 146 stores across the six Gulf Cooperation Council (GCC) co…
Titan acquires 67 percent stake in Dubai-based Damas jewellery for USD 283 million - Connected to India News I Singapore l UAE l UK l USA l NRI
Titan Company Ltd announced on Monday that it will acquire a majority stake in Dubai-based jeweller Damas LLC for USD 283 million, or 1.04 billion dirhams, as part of its plan to expand its jewellery business in the Middle East beyond the Indian diaspora. C K Venkataraman, Managing Director, Titan Company. Photo courtesy: www.linkedin.com/in/c-k-venkataraman-328218195/ The acquisition will be carried out through Titan’s fully owned subsidiary, T…
Titan acquiring Damas: Titan, a leading company that makes fashion accessories, watches, glasses and jewelry, is now on its way to expanding its global presence. This is why Titan Holdings, a wholly-owned subsidiary of Titan, has decided to buy a 67% stake in Damas International Limited of the UAE. To this end, it has entered into a deal with its Qatari company, Mannai Corporation QPSC. The deal discussion also had an impact on Titan's shares. O…
Titan acquires 67% stake in Damas to grow its GCC marketshare
To deepen ambitions in the global jewellery landscape, India’s Titan Company Limited has signed a definitive agreement to acquire a controlling 67% stake in iconic Middle Eastern jeweller Damas LLC from Qatar-based Mannai Corporation. The deal, valued at an enterprise worth of AED 1.038 billion, marks a strategic milestone for Titan’s international expansion. It positions the Tata Group-backed company as a serious contender in the GCC’s high-val…
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