Indian giant Titan is set to acquire a significant stake in Dubai-based luxury jewellery brand Damas in a deal valued at over Dh1 billion. This acquisition will help Titan expand its presence across six Gulf Cooperation Council (GCC) countries.
About Damas
Founded in 1907 in Dubai, Damas has become a well-known name in the Middle East’s jewellery market. Key details include:
- Operations across 146 stores in the GCC region
- Established reputation in luxury jewellery
Titan’s Strategic Move
Titan, widely recognized in India for its watches and jewellery, aims to strengthen its international footprint through this investment. Industry experts anticipate:
- Boosted growth and market reach for both Titan and Damas
- Increased competition in the Gulf region’s jewellery market
- Expanded range of high-quality jewellery options for customers
Significance of the Deal
This major acquisition highlights:
- Dubai’s growing status as a global business hub attracting international investors
- Expanded collaborations in retail and luxury sectors
- Titan’s strategy to diversify and grow its portfolio beyond India
Stay tuned to Questiqa World News for the latest updates on this developing story.
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