National News
Titan to acquire 67% stake in Damas jewellery; transaction valued at $282 million
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.
National News
Limelight Lab Grown Diamonds Inaugurates Showroom In Kalyan, Its 8th Exclusive Store MMR
The new store marks Limelight’s 8th exclusive outlet in Mumbai, further strengthening its retail presence across the Mumbai Metropolitan Region reflects its focus on reaching consumers urban markets.
Limelight Lab Grown Diamonds, India’s largest and most trusted lab grown diamond jewellery brand, continues to expand its retail footprint with the launch of its new exclusive store in Kalyan, marking its 8th store in Mumbai. The launch further strengthens the Brand’s presence across the Mumbai Metropolitan Region and reflects its focus on reaching consumers across both established and emerging high-potential urban markets.
The store was inaugurated by Karamjyot Chawla, Director, Limelight Lab Grown Diamonds, along with Regional Partner, Lalit Soni, alongside the brand’s leadership team. The launch marks another significant milestone in Limelight’s continued retail expansion across Mumbai.
The new store brings Limelight’s contemporary lab grown diamond jewellery closer to consumers in Kalyan, catering to an evolving customer base that is increasingly seeking modern, design-led and value-conscious jewellery options.
Designed to offer a contemporary and elevated retail experience, the store showcases Limelight’s extensive collection of CVD studded lab grown diamond jewellery crafted using Type IIA diamonds, globally recognised for their exceptional brilliance and purity. Customers can explore a wide range of classic solitaires, elegant necklaces, statement earrings, bracelets and versatile everyday jewellery, catering to both occasion-led purchases and modern lifestyles.
Kalyan represents an important market within the Mumbai Metropolitan Region, with a growing urban consumer base and evolving preferences towards contemporary jewellery formats. With its presence in Khadakpada, one of the most prominent, well-developed residential and commercial localities in Kalyan, Limelight aims to make lab grown diamond jewellery more accessible to consumers while offering a retail experience centred around design, quality and transparency.
To celebrate the launch, Limelight is offering special launch benefits for customers, giving them the opportunity to indulge with and shop their favourite diamond jewellery pieces at last year’s gold rate. Remarkably enticing, the offer is valid for a limited period only. (T&C apply.)
Pooja Madhavan, Founder & Managing Director, Limelight Lab Grown Diamonds, said:
“The launch of our 8th store in Mumbai is an important milestone for Limelight and reflects our continued confidence in the region. Mumbai has been an important market for us, and we are seeing growing consumer interest in contemporary diamond jewellery and newage formats that align well with their beliefs and ensure no compromises in quality. With our new store in Kalyan, we are more than delighted to extend the Limelight experience to a wider consumer base, cater to their distinctive demands and making high-quality lab grown diamond jewellery more accessible across the region.”

Karamjyot Chawla, Director, Limelight Lab Grown Diamonds, added:

“Reaching our 8th store in Mumbai is a significant milestone in our retail expansion journey. Our strategy is focused on building a strong presence across both established and emerging markets, and Kalyan is an important addition to this network.
The city has a growing consumer base with evolving jewellery preferences, and we look forward to bringing our extensive range and contemporary retail experience closer to consumers in Kalyan and the surrounding areas, diversifying our clientele for conscious luxury and taking it a step further.”
With the launch of its new store in Kalyan, Limelight Lab Grown Diamonds now has 8 exclusive stores across Mumbai, further strengthening its retail network in one of India’s key jewellery markets. The launch is part of the brand’s wider nationwide expansion, as it continues to build awareness and accessibility for lab grown diamond jewellery across India.
-
National News8 hours agoLimelight Lab Grown Diamonds Inaugurates Showroom In Kalyan, Its 8th Exclusive Store MMR
-
National News9 hours agoThis Ganesh Chaturthi, Gift Blessings Wrapped In Gold With Aspect Bullion & Refinery
-
National News9 hours agoThis Ganesh Chaturthi, Celebrate New Beginnings With The Timeless Brilliance Of A Natural Diamond Solitaire By Divine Solitaires
-
GlamBuzz9 hours agoKalyan Jewellers Celebrates The Joy Of Togetherness With Actress Ms. Pooja Sawant This Ganesh Chaturthi

