In Short:
Apple’s company-owned India outlets in Mumbai and New Delhi have reported revenue of Rs 190-210 crore each last fiscal year. These stores have consistently high footfalls, with the Mumbai store generating slightly more revenue due to its larger size. Apple is now planning to open more company-owned stores in Pune, Bengaluru, and Noida. The stores serve as a place for customers to experience Apple products and attend sessions on product usage.
Kolkata | New Delhi | Mumbai: Apple’s two company-owned India outlets, which completed their first year of operations this month, have posted revenue of Rs 190-210 crore each last fiscal year, joining the ranks of the iPhone maker’s top-performing retail stores globally.
Consistent Sales Performance
“The two Apple stores have clocked monthly average sales of Rs 16-17 crore each consistently since their launch. The Mumbai store revenue has been a little higher than the Delhi one due to a larger size,” said an industry executive aware of the matter. “It has met Apple’s expectations, matching some of the best-performing store launches and they are now aggressively scouting space for the next three company-owned stores.”
The US-based company opened the Mumbai store — Apple BKC — on April 18 last year, followed by the one in New Delhi — Apple Saket — two days later. Chief executive Tim Cook had flown to India for the store inaugurations.
Future Expansion Plans
As per two industry executives, Apple is in advanced talks for one store each in Pune and Bengaluru and a second outlet in the National Capital Region in Noida. All of these will be in prominent malls.
Upcoming Product Launch
“One of the prerequisites for launching the Apple Vision Pro in a market is that it should have its own Apple store. There could be an announcement around the same during the upcoming WWDC developer conference in June,” the executive added.
Focusing on Indian Market
Apple has been doubling down on India — the world’s second largest smartphone market — amid geopolitical tensions and a slump in sales in the key markets of the US and China.
Enhancing Customer Experience
The stores also help in brand building, making people familiar with the Apple ecosystem through “Today at Apple” sessions, where experts conduct sessions in using Apple products better, this executive said.
Employee Insights
“An employee at the Apple store in Mumbai’s Bandra Kurla Complex (BKC) said she now knew some of her regular customers by name.
Another employee at the Mumbai store said the store’s location helped footfalls grow month-on-month.
Differences in Sales Approach
However, these flagship stores are not programmed for sales, say some executives. There are no offers like with the authorised resellers or large-format retail stores like Croma or Reliance Digital.
