Titan Company Limited has agreed to acquire a 67% stake in UAE-based jewellery retailer Damas LLC for ₹2,400 Crore, with the deal expected to close by January 31, 2026.
Target Information
Titan Company Limited has announced a definitive agreement to acquire a 67% stake in Damas LLC, a prominent jewellery retailer based in the United Arab Emirates (UAE). This acquisition is valued at ₹2,400 Crore and is expected to close by January 31, 2026. Damas LLC boasts a significant presence in the UAE’s luxury jewellery market, providing an excellent growth opportunity for Titan.
Industry Overview
The jewellery market in the UAE is one of the fastest-growing sectors of the retail industry, fueled by a rich cultural heritage and a strong demand for luxury products among both residents and tourists. The sector's growth is backed by increased disposable income and a burgeoning number of luxury retail outlets catering to high-end clientele.
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Moreover, the UAE government supports the jewellery industry through initiatives aimed at boosting tourism and trade. This includes the prom
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Disclosed details
Transaction Size: $289M
Revenue: $250M
Net Income: $64M