Damas appoints Ananthanarayanan Hariharan as CEO as Titan moves towards majority control

With vast experience in retail, Hariharan is expected to ensure structured operations, stronger retail discipline and deeper integration between GCC markets and Titan’s established systems in India

Dubai: Damas Jewellery has entered a new phase of leadership with the appointment of Ananthanarayanan Hariharan as Chief Executive Officer. The development comes as Titan Company Ltd. moves closer to formalizing its agreement to acquire a 67% stake in the Dubai-headquartered retailer by the agreed date of January 31, 2026, marking a significant step in strengthening its presence across the Gulf’s jewellery market.

Established in 1907, Damas is one of the Middle East’s long-standing jewellery houses, known for its gold, diamond, bridal and Arabic-inspired collections. Over the decades, the brand has built strong equity among consumers in the UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain. Titan’s acquisition of majority stake in Damas marks an effort to align this regional heritage with its structured retail model and quality assurance systems developed in India.

Hariharan’s appointment is in line with this direction. An alumnus of IIM Calcutta and BITS Pilani, he has more than 30 years of experience across retail operations, supply chain, merchandising and category management, working with several major Indian retail organizations, including Madura Coats and Reliance Retail. His tenure at Tanishq, Titan’s jewellery division, provided direct experience in product development, gold purity processes, sourcing networks and changing consumer behaviour in jewellery. From 2017 to 2023, Hariharan served as Senior Vice President & Business Head – Fashion and Lifestyle at Reliance Retail. Post that, he took over as Head of Retail & Merchandising at Novel Jewels, the jewellery venture of the Aditya Birla Group, working to strengthen retail frameworks, product design and customer strategy. Hariharan’s vast experience in retail positions him to guide Damas through its next phase of operational and brand development.

In the early stages of his leadership, Hariharan is likely to prioritize refining Damas’ collection cycles, improving seasonal launches, strengthening store-level productivity and aligning quality checks with Titan’s established standards. Greater integration between India and the GCC in sourcing and manufacturing is also expected to be part of the strategy. Titan’s option to acquire the remaining 33% stake in Damas after December 2029 underlines its long-term commitment to the region.

With 146 stores across the GCC, Damas enters this transition with substantial regional reach. The combination of Titan’s operational structure and Damas’ deep-rooted presence in Middle Eastern jewellery retail is expected to influence how the brand evolves and competes in the years ahead.

Retail Jeweller ME News