Titan Buys $20m Stake in US Lab Grown Retailer Great Heights
March 16, 22
(IDEX Online) - Indian jewelry chain Titan Co has bought a $20m stake in the US lab grown retailer Great Heights.
In a separate move it also announced plans to open around 20 stores in the next three years outside India, including the US.
Titan bought a 17.5 per cent stake in Delaware-based Great Heights Inc, which sells lab grown jewelry through its Clean Origin brand. It reported gross revenue of $25m in 2021.
"This is a strategic investment that will provide Titan a ring-side view of the fast-growing Lab Grown Diamond and Direct to Consumer (D2C) sectors," Titan said.
Pic shows a Great Heights diamond ring.