Titan buys 67% stake in Damas for ₹2,300cr

Business Jul 21, 2025

Titan Holdings is making a big move into the Middle East by buying a 67% stake in Damas, one of the region's top jewelry brands, for about AED 1,038 million (roughly ₹2,300 crore).
This deal fits Titan's goal to grow in the Gulf and ride the wave of rising demand for unique, Arabian-inspired jewelry.

Deal expected to close by January 2026

The deal should wrap up by January 2026. Mannai Corporation will keep a 33% share in Damas until at least the end of 2029, after which they can sell it to Titan.
With over a century in business and nearly 150 stores across six countries, Damas gives Titan a strong launchpad to make its mark in the competitive Middle Eastern jewelry scene.