Titan Company, an Indian lifestyle and jewelry brand, announced on July 21, 2025, that it will acquire a 67% stake in Damas, a prominent jewelry retailer in Dubai, for approximately ₹2,438 crore (around $283 million). Damas operates 146 stores across six Gulf Cooperation Council (GCC) countries, giving Titan a significant foothold in the West Asian jewelry market. The deal, funded through internal accruals, cash, and debt, allows Titan to expand its global presence beyond the Indian diaspora. Titan also has the option to acquire the remaining 33% stake after December 2029. This acquisition is seen as topline accretive, with Damas’ earnings to be consolidated with Titan’s financials.
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