Titan Mega Deal for Damas International: The Tata Group company Titan is in advanced-stage talks to buy a 72% stake in Damas International. According to people familiar with the matter, the deal could be worth Rs 2500 crore. Damas International is a leading Arab jewellery retailer.
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Titan Mega Deal for Damas International
The Tata Group has started evaluating this deal. According to the media report, the remaining 28 % will stay with Mannai Corp, which owns Damas International. Damas International had asked for Rs 3,000 crore from Titan for this deal.
This marks the second time Titan has entered discussions to acquire a stake in Damas International, following earlier talks that reportedly fell through due to valuation disagreements.
Preliminary Agreement Between Both Companies
Both parties have reached an initial level of agreement. According to people familiar with the matter, the deal can be finalised in the second quarter of FY 2026. Titan has also entered the GCC with a store in Dubai. Tanishq has also launched new collections, keeping in mind Arab designs.
Company Says On Titan Mega Deal for Damas International
A person aware of the matter said, “For Damas International, Titan will follow the CaratLane model. The company had bought a 62% stake in CaratLane in 2016, and after that bought the entire stake.”
About the Damas International
- Damas International is a wholly-owned subsidiary of Dubai-based Mannai Corp.
- Damas International is a well-known jewellery retailer in the Gulf Cooperation Council region.
- Damas’ network of 251 stores offers an attractive combination of in-house jewellery collections.
- At the same time, Titan’s portfolio of $6.7 billion spans jewellery, wearables, fragrances, fashion accessories and Indian apparel.
- Titan’s jewellery brands include flagship brands Tanishq, Zoya, Caratlane and Mia by Tanishq.
- The company has 10 stores in the UAE, 2 in Qatar and one store in Oman.
India's Titan is in advanced discussions to acquire 72% stake in Damas International, a prominent Gulf jewellery retailer, for approximately 🇮🇳 Rs 2,500 crores!
— news_wiz (@prawin_ven12340) May 26, 2025
Titan is expanding it's jewellery business beyond India now!
Gulf is a huge market & Titan wants to ride on it!
About the Titan
Established in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation to exclusively trade in watches, Titan is today a preferred brand for jewellery, spectacles, perfumes and a host of fashion accessories.
Its jewellery brand, Tanishq, was launched in 1994. As of March 31, 2023, the company had a 7% share in the jewellery market. It has around 800 stores in more than 250 cities across the country.
Titan Share performance: Shares of Titan Company closed with a surge at Rs 3610.90 on Monday.
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗