The strategic alliance of two trusted jewellery icons powers the brands rapid GCC expansion.
Dubai – 05 August 2025: Titan Company Limited, part of the Tata Group and parent company of Tanishq, is prepared to lead the retail jewellery market in the GCC with its recent acquisition of a 67 percent stake in Damas Jewellery, the century-old Dubai-headquartered luxury jewellery retailer.
Through this acquisition, Titan Company Limited is making a bold move to deepen its footprint in the Gulf region. In a statement, Titan emphasised that this partnership brings together two of the most trusted names in jewellery retail, Tanishq and Damas, under one umbrella, marking a pivotal moment in the company’s international expansion strategy and setting the stage for a redefined jewellery experience in the GCC’s organised retail landscape.
Mr. C.K. Venkataraman, Managing Director of Titan Company Limited, and Mr. Alekh Grewal, Group Chief Executive Officer of Mannai Corporation, at a media event held in Dubai
“This is more than just a transaction, it’s the coming together of two iconic names built on trust, design, and a deep understanding of what jewellery means to people,” This acquisition significantly strengthens Tanishq’s regional footprint and unlocks new potential in one of the world’s fastest-growing jewellery markets. Yet beyond scale, it’s the consumer-facing transformation that makes this move remarkable,” said Mr. CK Venkataraman, Managing Director of Titan Company Limited.”
Titan aims to serve the two largest customer groups in the region – Indians (and other South Asians) through Tanishq and the Arabs through Damas. This dual-brand presence is designed to offer customers the best of jewellery designs, fantastic shopping experience with the trust and assurance of Tata’s Titan.
The acquisition was executed earlier through Titan’s wholly owned subsidiary, Titan Holdings International FZCO, with 146 Damas stores across the UAE, Qatar, Kuwait, Bahrain, and Oman,it firmly positions Titanat the forefront in the GCC jewellery market.
“While Damas will continue to operate under its brand identity, the collaborationwill introduce enhanced collections, operational synergies, and a seamless retail experience for our consumers”,he added.
Mr. Alekh Grewal. Group Chief Executive Officer of Mannai Corporation, “Damas has always stood for elegance, tradition, and craftsmanship. With Titan’s backing, we gain access to global retail expertise and a future-ready vision. This partnership will allow us to invest further in our people, innovate across our portfolio, and serve our customers with even greater depth and distinction.”
“This acquisition is a bold step in our global growth journey. It enables us to expand Tanishq’s footprint across the Gulf and introduce our expertise in jewellery retail to a broader audience. With Damas, we see a powerful opportunity to serve both the large Indian and South Asian diaspora, as well as the established Arab and global clientele that Damas has long catered to.
Together, we aim to set new benchmarks in quality, trust, and customer experience across the region,” Mr. Venkataraman concluded.
This move underscores Tanishq by Titan’s unwavering commitment to the Middle East and its ambition to shape the region’s jewellery narrative with a blend of heritage, innovation, and trust.
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