Titan acquires 67% stake in Damas Jewellery, driving Tanishq’s rapid GCC expansion and redefining the jewellery retail experience.
Dubai: Titan Company Limited, a Tata Group entity and parent company of Tanishq, has acquired a 67% stake in Dubai-based Damas Jewellery, marking a transformative leap in the GCC jewellery retail market. The strategic acquisition positions Titan to lead the region’s organised jewellery segment through a powerful dual-brand approach.
With Tanishq catering to the Indian and South Asian diaspora and Damas appealing to Arab clientele, this alliance merges two of the most trusted names in jewellery retail. The acquisition was executed through Titan Holdings International FZCO, Titan’s wholly owned subsidiary.
“This is not just a transaction—it’s the uniting of two iconic brands grounded in trust, craftsmanship, and deep cultural understanding,” said C.K. Venkataraman, Managing Director of Titan Company Limited. He added that the deal would expand Titan’s footprint across the Gulf and elevate consumer experience through design innovation and retail excellence.
Damas will continue to operate under its brand identity, supported by Titan’s global retail know-how. With 146 stores across the UAE, Qatar, Kuwait, Bahrain, and Oman, Damas provides Titan with immediate market penetration and extensive customer reach.
Alekh Grewal, Group CEO of Mannai Corporation, Damas’ previous majority owner, called the partnership “a growth catalyst.” He said, “Titan’s expertise brings global scale, allowing Damas to further invest in talent, innovation, and customer excellence.”
The collaboration promises enhanced collections, operational synergies, and a redefined jewellery shopping experience. Titan’s bold move reflects its commitment to shaping the jewellery narrative in the Middle East by blending Indian heritage with regional elegance and innovation.
This acquisition significantly strengthens Titan’s position in one of the world’s fastest-growing jewellery markets, reinforcing its long-term ambition of becoming a dominant player in global luxury retail.
