Titan Company Limited , a prominent player in the Indian jewellery and watch market, has announced a significant move in its expansion strategy. The company is set to discuss its acquisition of the Damas Jewellery business in an upcoming conference call, signaling a potential major development in its jewellery division.

Conference Call Details

Titan Company has scheduled an audio conference call for July 25, 2025, at 3:30 pm IST. The call, which is expected to last until 4:15 pm, will feature senior management discussing the details of the Damas Jewellery business acquisition. This will be followed by a Q&A session, providing analysts and investors an opportunity to gain deeper insights into the strategic move.

Accessibility and Transparency

In a move towards ensuring wide accessibility, Titan Company has provided multiple options for interested parties to join the call:

• A Diamond Pass link for pre-registration
• Universal dial-in number: +91 22 7195 0000
• India toll-free numbers: 18008911331 and 18001201331
• International toll-free numbers for various countries including Australia, Canada, France, Germany, Hong Kong, Singapore, the United Kingdom, and the United States

Furthermore, demonstrating its commitment to transparency, the company has announced that both the audio recording and the call transcript will be made available on Titan's official website post the conference.

Significance of the Acquisition

The acquisition of Damas Jewellery business could potentially mark a significant step in Titan's growth strategy. Damas, known for its presence in the Middle East, could provide Titan with an expanded international footprint and access to new markets.

Management Changes

In related news from the company's recent Annual General Meeting (AGM), it was announced that Mr. C.K. Venkataraman, the current Managing Director, will be superannuating on December 31, 2025. Mr. Ajoy Chawla, who currently serves as the CEO of the Jewellery Division, is set to take over the reins.

Investor Relations

For further information, investors can contact Venkatesh Raghavan, the designated Investor Relations contact for Titan Company.

This conference call on the Damas Jewellery business acquisition underscores Titan Company's proactive approach to keeping its stakeholders informed about significant corporate developments. As the jewellery market continues to evolve, this move could potentially reshape Titan's position in the global luxury goods sector.

Titan Company Limited , a renowned Indian watchmaker and jeweler, is set to make a significant move in the global jewelry market by acquiring a majority stake in Damas Jewellery, a prominent Middle Eastern jewelry retailer. This strategic acquisition marks Titan's ambitious expansion into the Gulf Cooperation Council (GCC) countries, signaling a new chapter in the company's international growth strategy.

Acquisition Details

Titan, through its wholly-owned subsidiary Titan Holdings International FZCO, has entered into a definitive agreement to acquire a 67% stake in Damas LLC (UAE), the current holding company for Damas Jewellery's business in GCC countries. The deal is based on an enterprise value of AED 1.038 billion (approximately INR 2,340 crore).

Strategic Significance

The acquisition is strategically crucial for Titan's jewelry business as it facilitates expansion across six GCC countries: UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain. This move allows Titan to tap into a region experiencing robust economic growth and increasing demand for high-quality, culturally resonant jewelry designs.

About Damas Jewellery

Founded in 1907 and headquartered in Dubai, UAE, Damas Jewellery is recognized as the Middle East's premier jewelry retailer. With a rich legacy spanning over a century, Damas has built a reputation for unparalleled craftsmanship and innovation. The brand operates a network of 146 stores across the GCC countries, offering a curated portfolio of in-house collections and prestigious international labels.

Key Points of the Deal

• Titan will acquire 67% shareholding in Damas LLC, subject to conditions and regulatory approvals.
• The transaction is expected to be completed on or before January 31, 2026.
• Mannai Corporation, the current owner, will retain a 33% stake in Damas.
• After December 31, 2029, Titan will have the option to acquire the remaining 33% stake from Mannai.

Financial Insights

Damas LLC has shown consistent growth in recent years:

Management Perspectives

C.K. Venkataraman, Managing Director of Titan, commented on the acquisition: "With the Damas acquisition, Titan Company is stepping out from its diaspora focus into other nationalities and ethnicities. The acquisition not only creates a significant new global opportunity for Titan but also enhances Titan's overall position in the jewelry market in the GCC countries."

Alekh Grewal, Group CEO of Mannai Corporation, added: "We are delighted that Titan is taking the opportunity to invest in the future of Damas. Both Titan and Damas share the same values in terms of passion for beautiful jewelry, innovative design, and dedicated customer service."

Looking Ahead

This acquisition represents a significant milestone in Titan's global expansion strategy. By leveraging Damas' strong presence in the GCC region and combining it with Titan's expertise in the jewelry industry, the company aims to create a powerful synergy that will drive growth and innovation in the Middle Eastern luxury jewelry market.

As Titan continues to expand its footprint beyond India, this move into the GCC market through Damas Jewellery acquisition showcases the company's commitment to becoming a global player in the jewelry industry. The transaction is subject to customary closing conditions and regulatory approvals, with both companies expressing confidence in the potential for growth and value creation in the coming years.