Apple stores in India get off to a flying start
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.
«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.
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.
One of the executives said the company was waiting to complete a year of its first two India stores before finalising on the next phase of expansion.
The average selling prices in the Apple stores is similar to the company average in India.
«Apple will not be happy with just two stores in a market like India. Of course, there are plans to expand. It is a question of when, not if,» a third executive familiar with the matter said, adding that
