Introduction
Titan Company Ltd, a leading lifestyle and jewellery company in India, has recently announced a strategic acquisition that marks its most significant global foray to date. The company, part of the renowned Tata Group, is acquiring a 67% stake in Dubai-based jewellery brand Damas. This acquisition is expected to bolster Titan’s international presence, especially in the Middle East, and reflects the company’s ambition to become a major global player in the jewellery segment. This report presents an overview of Titan’s background, leadership, current stock performance, the rationale behind the Damas acquisition, and the strategic implications for both entities.livemint.com
Background and Promoters
Titan was established on July 26, 1984, originally as Titan Watches Limited. It was founded as a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), with its headquarters located in Bengaluru, India. The company was envisioned as a premium watch brand and later diversified into jewellery, eyewear, and other lifestyle products. Titan’s jewellery brand, Tanishq, launched in the mid-1990s under the leadership of founder Xerxes Desai, has become a dominant name in Indian jewellery retail. As of today, the key promoters are Tata Sons, holding approximately 25%, and TIDCO, which holds around 27.9% of the company.
Leadership and Management
Titan’s current leadership includes a seasoned board comprising a mix of executive and non-executive directors. Arun Roy serves as the non-executive chairman, with N. N. Tata as the vice-chairman. C. K. Venkataraman, the present Managing Director, is set to retire in December 2025, and Ajoy Chawla, currently heading Titan’s jewellery division, will take over as MD starting January 1, 2026. Other prominent board members include independent directors such as Ashwani Puri, Dinesh Shetty, Shalini Kapoor, and others, bringing diverse industry experience to the table. This strong leadership foundation has guided Titan through consistent growth over the decades.
Stock Performance and Market Standing
Titan is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) under the ticker symbol “TITAN.” As of July 24, 2025, its stock is trading in the range of ₹3,471–₹3,480 per share. The company’s market capitalization stands at around ₹3.08 lakh crore. With a price-to-earnings ratio of approximately 92 and a price-to-book ratio of around 26, Titan is perceived as a premium-valued stock in the Indian equity markets. Approximately 90% of the company’s revenue is derived from its jewellery segment, highlighting its focus on and dominance in this space. The titan ltd Revenue as on 31st March 2025 is Rs 52,007 Crore .
The Damas Acquisition
In July 2025, Titan announced that its subsidiary will acquire a 67% stake in Damas LLC, a prestigious jewellery brand headquartered in Dubai. The deal is valued at approximately AED 1.038 billion (around USD 283 million).Rs 2435.5 Crore.
The Damas, Dubai is Rs 34.07 billion .as on 2024 year ended.
The acquisition is expected to be completed by January 31, 2026. Notably, Titan also retains the option to acquire the remaining 33% stake in Damas after December 31, 2029. This acquisition will give Titan access to 146 stores across the Gulf Cooperation Council (GCC) region, including in the UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain.
Strategic Move and Benefits
The acquisition aligns with Titan’s goal of expanding its international footprint, particularly in the Middle East—a market with a large Indian diaspora and high demand for gold jewellery. Damas, known for its Arabic aesthetic and regional designs, complements Titan’s predominantly Indian-style offerings. Through this acquisition, Titan gains scale, market presence, and valuable local expertise, while Damas will benefit from Titan’s operational capabilities, financial strength, and proven success in organized retail. Additionally, the move allows Titan to diversify its brand portfolio and deepen its presence in high-value international markets.
India’s Gold Jewellery Market
India remains the largest consumer of gold jewellery globally, with annual consumption estimated between 700 and 800 tonnes. The jewellery sector is a cornerstone of Indian retail, deeply embedded in the culture. Titan, with a 6% market share in the branded jewellery segment, plays a pivotal role in modernizing the industry through trust, transparency, and design innovation. The Damas acquisition positions Titan to leverage its brand equity and retail model in a culturally aligned but globally competitive market like the GCC.
Remark :
Titan’s acquisition of Damas marks a bold step toward becoming a global leader in the jewellery industry. The move strategically aligns with its vision of expanding internationally while reinforcing its brand identity in existing and emerging markets. With a robust legacy, strong leadership, and consistent financial performance, Titan is well-positioned to leverage this acquisition for long-term growth, making it a significant development in the global luxury retail landscape.
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