SUMMARY
Apple signed a lease contract with Reliance Jio World Drive Mall to not have around two dozen smartphone manufacturing companies in the complex to avoid competition
The store is going to be the most energy efficient Apple store and will operate on 100% renewable energy
As Apple aims at shedding the load off China amid the tensions with the US, the company has reshuffled the leadership team with a target of making India a key market
Finally, the wait is over for India to have its very own Apple store. Apple CEO Tim Cook launched the first Apple store in Mumbai for the customers.
The store is located at the Bandra Kurla Complex (BKC), known as the financial, arts, and entertainment hub of the city. The store will not just serve the customers to explore Apple products but also help them know the products better in terms of functions and features.
Commenting on the new store, Deirdre O’Brien, Apple’s senior vice president of Retail said, “Apple BKC is a reflection of Mumbai’s vibrant culture and brings together the best of Apple in a beautiful, welcoming space for connection and community.”
As per the press statement shared by the company, Apple BKC will offer a series of special events commencing from the store’s opening day through the summer. Such a series of events will encourage local talent and culture.
Further, per the company, the store is going to be the most energy-efficient Apple store and will operate on 100% renewable energy. The Apple BKC store employs more than 100 people who collectively speak over 20 languages.
However, there are reports about the tech giant launching its first store in India on the condition that it will have no competitors around. For the same, Apple asked Reliance Jio World Drive Mall in Mumbai that around two dozen brands shouldn’t have any kind of presence near its store.
Further, Apple is celebrating its over 25 years of presence in India and looks forward to further growth. As it aims at shedding the load off China amid the tensions with the US, the company has reshuffled the leadership team with a target of making India a key market.
Recently, the company reported to have tripled production of iPhones in India to $7 Bn in the financial year 2022-23 (FY23). In addition, Apple has hit a new sales record of $6 Bn sales from India and also a 50% increase in revenue from last year.
The Apple CEO is likely to meet Prime Minister Narendra Modi, for which the government officials have prepared talk points around boosting the production of Apple’s products in India.
While making financial announcements this year, Cook told the media, “We actually did fairly well through COVID in India. And I’m even more bullish now on the other side of it, or hopefully, on the other side of it. And that’s the reason why we’re investing there. I’m very bullish on India.”
Along with Apple, its biggest supplier Foxconn has also shown keen interest in expansion across India. Since November the supplier has been active in hiring as well as investing in the country. The company has made multiple announcements of investments in the country.
It recently announced an investment of over $200 Mn in Telangana to set up a facility to manufacture AirPods. Another investment of up to $1 Bn to set up a manufacturing facility on the outskirts of Bengaluru was also announced by the company.
