CFA, Anchor & Deputy Editor at CNBC-TV18; 40 Under 40 Journalists of India; Consumer Sector Expert
Titan - Acquires 67% in Damas Jewellery at an Enterprise Value of 2439 Cr - Deal to expand presence in GCC and West Asia Damas Revenue - FY22: 2679 Cr - FY23: 3130 Cr - FY24: 3433 Cr Co also signed a path to acquire the balance 33% stake after 31st Dec 2029 Co Earlier: Target USD 500m and 500,000 customers in International business by FY27 Quick thoughts - Good deal done at reasonable valuations - With Titan having already reached $150m ARR in international jewellery business, this deal hastens its path to $500m - Damas is a fairly well known brand and Titan’s acquisition there also strengthens its position vs other Indian players like Kalyan and Malabar who are present there - In the past, Titan’s acquisition of CaratLane has been successful and created a lot of value for them. - Titan has also signed definitive agreements for the remainder of this business, with a protected ceiling (as against some of their earlier deals) #StockMarket #FMCGisLife Titan Company Limited
This is a landmark move — testament to the rising global clout of Indian jewellery brands, especially in the Middle East. Titan’s acquisition of Damas not only accelerates its international ambitions but also signals the growing maturity and global readiness of Indian jewellery players. The Middle East isn’t just a high-value market — it’s a trendsetter for Indian consumer preferences too, given the cultural affinity and sizeable diaspora. A strong foothold there influences design, aspirational choices, and purchasing behavior back home in India. Titan’s entry through Damas also sets the stage for mid-segment Indian jewellery brands to follow suit — via manufacturing hubs, wholesale supply chains, and omni-channel retail expansion. India is no longer just the factory of the world in gems & jewellery — it's becoming a brand powerhouse. Thumbsup to Titan for showing the way. This could reshape the global pecking order in jewellery retail.
Yes.All Indian,Srilankan,Nepal workers while returning to their home countries, now they buy from Tanishq or Damas.Wherever Indians r there,they will buy.
Exciting times ahead for both Titan and the jewellery market!
This acquisition feels like a really savvy move for Titan Mangalam Maloo. Given how well they've done with CaratLane, it looks like this could be a big step toward expanding their reach globally.
SEBI Registered Research Analyst | MBA Finance | Trader & Mentor | Simplifying Stock Markets for Everyone | Personal Finance Storyteller
3moLooks like Titan's playing chess while others are stuck at checkers! Smart move...the GCC market is no joke!