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Apple is set to open its first retail store in Mumbai, India, renting over 20,000 square feet of shop space in the city’s commercial hub of Bandra Kurla Complex across three levels.
The minimum quarterly rent for the property is Rs 5.04 crore, which translates to a monthly payment of around Rs 42 lakh. While this may seem like a significant amount, it is merely pocket change for Apple, which has a market capitalization of over $2 trillion. The new store represents a significant investment for the company as it expands its retail presence in India, a key growth market for Apple.
Apple’s success in producing some of the world’s best-selling smartphones, laptops, and tablets is due in part to the exceptional customer experience they provide. This same level of experience is replicated in Apple stores, which are architectural marvels that showcase the company’s design philosophy and ingenuity. Below this article, we will highlight some of the best Apple stores around the world.
According to a report by Money Control, Apple’s contract for their first retail store in Mumbai includes a 15% increase provision every three years and a revenue-sharing component of 2.5% for the first 36 months, which will then increase to 2.8%.
India has become one of Apple’s fastest-growing markets in recent quarters, despite slowing demand in other regions. Although some customers have criticized Apple for the slow opening of its store in India, it is finally happening. Below, we have a glimpse of some of the stunning Apple stores from around the world.