National News

Titan to acquire 67% stake in Damas jewellery; transaction valued at $282 million

Published

8 months ago

July 22, 2025

1,779 Views

Titan Company Limited, through its Dubai-based wholly owned subsidiary Titan Holdings International FZCO, has signed an agreement to acquire a 67 per cent stake in Damas LLC, the holding company for the Damas jewellery business in the Gulf Cooperation Council (GCC) region.

The deal was struck with Damas International Limited, a subsidiary of Qatar-based Mannai Corporation. The value of the transaction has been pegged at around $282 million (AED 1,038 million). The acquisition will be funded through a mix of internal accruals, existing cash balances, and debt, the company said.

This move aims to expand Titan’s footprint in the Middle East, joining a league of other homegrown gold and diamond retailers with a presence in the Gulf.

Read more: Foreign luxury jewellers chase India’s young, wealthy buyers

Damas Jewellery, founded in 1907, has a network of 146 stores across the six GCC countries—the UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain. Damas houses a curated portfolio of in-house collections alongside high-end international jewellery labels.

Damas reported a consolidated turnover of $394.47 million in FY24, according to regulatory filings made by Titan Co.

Typically, Indian jewellery brands have expanded in these markets, drawn by demand from the Indian diaspora that continue to value jewellery purchases. Titan will, however, use the acquisition to focus on other nationalities and ethnicities.

Titan Holdings will hold 67% of the equity share capital and voting rights in Damas and a path to acquire the balance 33% stake from Mannai after 31 December 2029, subject to conditions. The current Graff Monobrand franchise business of Damas will be discontinued before completion of the transaction, per a filing with the exchanges.

Titan Co. already operates its Tanishq jewellery brand in the Miidle East, with stores in Dubai and Abu Dhabi.

Last fiscal, both Tanishq and Zoya expanded their global presence, opening stores in North America and GCC region primarily catering to the Indian diaspora. Its diamond brand Caratlane also opened its first international store in New Jersey, USA in FY25.

BrandBuzz

The Pearl Edit: Thoughtful Women’s Day Gifting by GIVA

Timeless pearl creations from GIVA that honour the quiet strength, elegance, and individuality of modern women.

Published

16 hours ago

March 6, 2026

JewelBuzz Spread The Buzz

1,956 Views

For generations, pearls have defined timeless elegance — an evergreen classic that transcends trends and seasons. Effortlessly refined, they carry a quiet sophistication that has remained relevant across eras.

Neither fleeting nor ornamental, pearls embody a kind of understated luxury, graceful, enduring, and always in style.

This Women’s Day, GIVA celebrates women who are building, leading, choosing, and redefining life on their own terms. Women who don’t need to be loud to be powerful, because their presence speaks for itself.

In that spirit, pearls make for a meaningful gift. Timeless yet modern, they move effortlessly from everyday moments to milestone celebrations, making them a thoughtful way to honour the women who inspire us, whether it’s a mentor, a friend, a colleague, or even yourself.

Here are some pearl pieces that make for perfect Women’s Day gifts.

Stay With Me Golden Pendant With Link Chain

For the one who wears her heart unapologetically. A radiant pearl drop pendant set in gold-plated 925 silver, designed with an elegant lattice motif that blends timeless romance with modern craftsmanship. From the Barkha Singh x GIVA Glow in Motion collection, this piece celebrates intricate CNC artistry while offering a refined statement for everyday elegance.

Gold Pearl Centred Diamond Earrings

Elegant and timeless, these 18K BIS-hallmarked gold earrings feature a delicate circular motif with a luminous pearl at the centre, accented by sparkling lab-grown diamonds below. Designed for everyday luxury, they blend classic sophistication with modern brilliance, making them a graceful statement for any occasion.

Rose Gold On Mom’s Path Bracelet

A heartfelt rose gold-plated bracelet crafted in 925 silver, featuring a charming baby shoe motif with enamel detailing, a delicate pearl accent, and a subtle “mom” engraving. Thoughtfully designed to celebrate the unbreakable bond between a mother and her child, it makes for a meaningful keepsake.

Anushka Sharma Silver Drops of Pearls Set

Inspired by the hidden beauty of ocean pearls, the Anushka Sharma Silver Drop of Pearl Set captures effortless elegance with a graceful pearl drop and sparkling zircon accents. Crafted in 925 silver, the set includes a delicate pendant and matching earrings designed to add timeless charm to any look.

Rose Gold Glam Drops Necklace

Graceful and statement-making, this rose gold-plated lariat necklace in 925 silver features a central oblong pearl with delicate cascading strands ending in luminous pearls. Elegant yet contemporary, it’s the perfect piece to elevate evening looks and special occasions with effortless glamour.