Dubai is witnessing a major business move as India’s Titan Company Limited is acquiring a significant stake in Dubai-based jewellery retailer Damas. The deal, worth over Dh1 billion, marks a strategic step for Titan to strengthen its presence in the Gulf Cooperation Council (GCC) countries.
Founded in 1907, Damas is a well-known fashion accessories manufacturer with a robust network of 146 stores across six GCC nations. This acquisition will enable Titan to:
- Expand its footprint in the Middle East market
- Tap into new customer segments
Industry experts believe this collaboration will foster innovation and drive growth for both brands by combining Titan’s jewellery expertise with Damas’s established retail infrastructure. Titan’s entry into Dubai’s jewellery sector is expected to:
- Bring more competitive offerings
- Enhance shopping experiences for consumers
This investment highlights the rising importance of cross-border partnerships in the vibrant GCC market, especially in Dubai, where luxury retail continues to thrive.
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