Titan sets its sights again on Damas Jewellery

Tata Group’s Titan Company is in talks with Qatar-based Mannai Corp to acquire a significant stake in Damas Jewellery, a prominent retailer in West Asia. This marks the second attempt at a deal between Titan and Damas.

The renewed talks indicate Titan’s continued interest in expanding its footprint in the West Asian jewellery market, aligning with its broader global ambitions.

Damas was acquired in April 2012 by a consortium led by Mannai Corp and has since become its wholly owned subsidiary. Headquartered in Dubai, Damas is the leading jewellery retailer in the Gulf Cooperation Council (GCC).

Tanishq, Titan’s jewellery brand, opened its flagship store at Dubai’s Gold Souk in January. It also has a presence in Doha, Sharjah, and Abu Dhabi. While Tanishq primarily caters to the Indian diaspora in the UAE, it has begun designing jewellery for other customers as well. Notably, it has introduced two collections inspired by Arabic motifs and customised store designs to suit local preferences, such as its boutique layouts in Qatar.