Founded in 1907 and headquartered in Dubai, Damas is among the oldest and most prominent Jewellery retailers in the Middle East, with a store network of 146 outlets across the GCC. Titan is acquiring 67% of Damas from Mannai Corporation QPSC, Qatar (Mannai) at an Enterprise Value of AED 1038 mn (approx $280 mn). The … Read more
Jewellery business increase market share from 8.6% currently to 10-11%. In last 5 years, the market share has almost doubled. increase buyers from 3.8mn to 6mn store count from 900 to 1250+ grow revenue at a CAGR of 15-20%. In FY 24, this division’s revenues grew by 20%. Â Emerging business – wearables, Taneira (ethnic wear … Read more
Gems and jewellery exports, one of the largest categories in India’s export basket, ended FY24 with a steep decline, sinking to its lowest levels in three years due to lower global demand. According to data from the commerce ministry’s Niryat portal, gems and jewellery exports stood at $32.71 billion during FY24, down from $37.96 billion … Read more
The Company is launching it’s 1st store in South Extension Market, Delhi. It has taken 17,000 sq ft space on rent Customers will only be by invite Minimum ticket size is speculated to be Rs 10 lakh Intention is to open similar stores across the country Titan/ Tanishq enjoys huge brand loyalty and the above … Read more
The 46th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) is being held on Monday. The RIL AGM is a major event for the Indian business community. The announcements made at the meeting could have a significant impact on the Indian economy. Investors are therefore eagerly awaiting the meeting to hear what Mukesh Ambani … Read more
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries (RIL) has announced raising Rs 8,278 cr from Qatar Investment Authority (QIA). Investment is raised at a pre-money equity valuation of Rs 8.278 lakh crore QIA will get 0.99% stake in RRVL on a fully diluted basis This fund raise effectively doubles RRVL’s valuation in … Read more
Titan has decided to buyout balance 27.18% stake from the promoter of Caratlane, Mithun Sacheti. This will increase Titan’s stake in Caratlane from 71.09%Â to 98.28%. Titan had bought 62% stake in Caratlane seven years ago (2017) from US-based hedge fund and venture capital investor Tiger Global for about Rs 357 crore. The transaction then … Read more