Ahead of the biggest festival shopping season of the year, Apple Inc. will be inaugurating its 3rd company operated store in India. The 8,000 sq ft store will come up at Bengaluru’s famed Mall of Asia, home to over 300+ International, domestic and home grown brands and retailers.
An offering from the pioneers of large format malls, The Phoenix Group, Mall of Asia is a premium shopping centre in the northern suburbs of the city on the way to the Airport, spread over a million sq ft.
Apple had earlier set-up 2 company operated stores at New Delhi (at a premium Mall) and Mumbai (at BKC), both of which have caught the attention of ardent Apple fans in the country.
In an Investor call earlier this month, Tim Cook, CEO, Apple had said that the company plans to open 4 new stores in the coming months in India.
2 more stores will come up at Mumbai and Delhi NCR, while a new store each would come up at Pune and Bangalore.
Apple imports many of its products, while some of it is manufactured in India in association with Foxconn.
The company currently serves the consumer community through a long and traditional distribution channel.
The two main distributors Ingram and Redington sell the coveted and iconic Apple products to AAR – Apple Authorised Resellers such as iMagine, iPlanet, iNvent, Aptronix, among several others alongside tech giants such as Amazon, Flipkart, Big Basket, etc.
The distributors also supply to several large Consumer Durable and IT retail chains such as TATA Croma, Reliance Digital, Vijay Sales, Viveks, etc. and their respective e-commerce channels such as Tata New and Jio.
Consumers can purchase certified Apple products from the official Apple online store and App, on e-commerce platforms as well as AARs.
Editor’s Note
During CY 2024, Apple’s India revenues grew 36% to INR 67,122 Cr (USD 7.84 Bn) with a profit of INR 2,746 Cr (USD 330 Mn).
Globally, Apple’s revenue for CY 2024 was USD 391 Bn. While India is still a growing market for the company, it is relatively very small when compared to Apple’s other global markets.
USA, China, Europe & Japan are the other top markets for the tech giant.
While the US contributed USD 167 Bn in revenues, Europe followed with USD 101 Bn, China with USD 66 Bn and Japan with USD 25 Bn.
Apple operates over 550 stores in 23 countries worldwide. Over half of them are in the US, followed by China and Europe – the company’s fastest growing markets.