Titan Company Ltd, a subsidiary of Tata Group, has entered into an agreement to acquire a 67% stake in Dubai-based luxury jewellery firm Damas LLC. The acquisition, executed through Titan Holdings International FZCO, is valued at AED 1.038 billion (approximately $283 million or Rs 2,439 crore) and is being made from Qatar's Mannai Corporation, the current owner of Damas. This strategic move will expand Titan's presence across six Gulf Cooperation Council (GCC) countries, positioning it as one of the largest Indian jewellers in the Middle East. Additionally, Titan holds an option to acquire the remaining 33% stake in Damas after 2029.