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Titan Company, a Tata Group enterprise and parent to leading jewellery brands Tanishq and Damas, has unveiled plans to significantly scale its footprint across the Gulf Cooperation Council (GCC) region. According to an official spokesperson on social media, the company aims to open 75 new stores over the next five years, generating approximately 675 new jobs across the region.
This strategic expansion highlights Titan’s continued commitment to international growth and strengthening its presence in key global markets.
The expansion includes 40–50 new Damas outlets and 25 Tanishq stores, with a major focus on Saudi Arabia, followed by Kuwait, Bahrain, and Qatar. Titan currently operates over 100 Damas stores and 15 Tanishq outlets in the GCC. “Saudi Arabia is underrepresented in our portfolio. With Damas’ local expertise, we’re well positioned to grow and meet employment regulations that prioritise hiring Saudi nationals,” said C.K. Venkataraman, Managing Director, Titan Company.
The job creation estimate includes 375 roles at Tanishq stores and 300 at Damas, as Titan continues to operate Tanishq on a franchise model while Damas remains under company ownership. This marks Titan’s first official media briefing in the UAE since acquiring a 67% stake in Damas from Mannai Corporation for AED 1 billion. The deal is expected to close by January 31, 2026, with an option to purchase the remaining 33% after December 2029. “This is not a distressed acquisition; no layoffs are planned. We’re here to grow,” added Venkataraman.
Mannai CEO Alekh Grewal called the deal a strategic move that will help Damas scale with Titan’s global retail expertise, while continuing to operate under its original brand identity
