Apple stores in Mumbai and Delhi maintain a steady monthly sales average of INR 16-17 Cr since opening.
Advanced discussions are underway for Apple to establish three additional company-owned stores in Pune, Bengaluru, and a second location in the Delhi-NCR area.
Apple is gearing up to introduce its premium mixed-reality headset, the Apple Vision Pro, to the Indian market.
Apple’s flagship stores in India, now a year old, achieved revenues between ₹190-210 crore each, aligning with the company’s projections. Expansion plans include new stores in Pune, Bengaluru, and Noida.
The Economic Times reported that Apple’s two flagship stores in India, celebrating their first anniversary this month, have recorded impressive revenues ranging from ₹190-210 crore each for the past fiscal year.
Citing an industry insider, the ET report indicates that these Apple stores have consistently achieved monthly average sales of ₹16-17 crore each since their inception. Notably, the Mumbai store has generated slightly higher revenue, attributed to its larger size.
Apple launched its Mumbai store, AppleBKC, on April 18 last year, followed by Apple Saket in New Delhi two days later. Tim Cook, Apple’s CEO, graced the store openings with his presence.
The report indicates that Apple is in advanced negotiations to establish individual stores in Pune and Bengaluru, along with another outlet in the National Capital Region in Noida, all situated in prominent shopping malls.
Sources mentioned in the report stated that Apple intended to complete a full year of operations at its initial two stores in India before proceeding with its expansion plans.
The average selling prices at these Apple stores align with the company’s average in India. “Apple won’t be content with just two stores in a country as vast as India. The question is not if, but when they will expand,” commented a third industry executive familiar with Apple’s strategy.
Additionally, the report suggests that the American tech giant is likely to introduce its Apple Vision Pro headset in India soon. However, a prerequisite for launching this product is the establishment of company-owned stores.
Amidst geopolitical tensions and declining sales in crucial markets such as the US and China, the tech giant has intensified its attention on India, the world’s second-largest smartphone market. Alongside boosting local manufacturing for both domestic consumption and exports, Apple stores have become pivotal to the company’s expansion strategy in India. Since their inauguration, Apple has consistently experienced double-digit revenue growth every quarter in the country.
