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Titan's subsidiary is set to acquire a 67% stake in Damas Jewellery, a leading Middle East retailer, at an enterprise value of ~₹2,357 Cr (AED 1,038 million). This strategic move significantly expands Titan's jewellery footprint across 6 GCC countries (UAE, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain). Damas, with FY24 turnover of ~₹3,318 Cr (AED 1,461 million) and 146 stores, offers culturally resonant designs. The acquisition enhances Titan's market position, bringing synergies in talent, retail networks, and supply chain, tapping into robust regional growth and sophisticated clientele.