Last updated on July 24, 2025
The acquisition by Titan of a majority share in Damas opens the fourth largest jewelry market in the world, the United Arab Emirates, for the company of the Tata group. The Indian jewelry companies have expanded their global imprint to satisfy the diaspora, but the acquisition just announced adds a new market segment with distinct projects and sensitivity to the brand. Unlike a previous wave of international acquisitions by the nanny who aimed at a global imprint, the Damas agreement has a more narrow focus. It is designed to accelerate growth for Titan In the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrein, where Damas has a larger presence of 10 times than Tanishq. The size of the GCC market, however, are diminished by the India market for gold jewels, which is rapidly moving on to branded products. The corporate interest in the segment is intensifying and regional players are acquiring a national and even international profile. Titan is taking steps as a child to become a global jewelry brand and there is a reason for its caution. China is the only other market of gold jewelry to compete with that of India and would be difficult for a brand that has yet to settle internationally. The demand for golden jewels moves away from beyond these two Asian countries and the acquisition of a global presence would entail a combination of organic growth and small acquisitions for Titan.There are obvious advantages for acquisitions abroad to exploit a wider pool of design talents that can help Titan grow in his internal market. The behavior of Indian consumers is chasing premium and helps to have strong domestic brands that can satisfy this change. The brand jewels are making their way in semi-urban clusters where traditional craftsmen dominate until a few years ago. Information enhanced on purchases and gold disorders are accelerating the formalization of the sector in India. Titan international strategy should provide synergies for its growth at home.
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