According to a Bloomberg report, Apple is currently engaged in discussions to establish three new retail stores in India over the next four years. Following the successful launch of its first two stores in Mumbai and Delhi in April, the company is now eyeing a third store in the suburban area of Borivali by 2025. In 2026, Apple is considering the possibility of opening a fourth location at the DLF Promenade Mall in New Delhi, which could potentially become the country's second-largest Apple store.
Additionally, Apple aims to launch a fifth store near the Worli seaside area in 2027. These plans align with Apple's global strategy, with a particular focus on expanding its presence in the Asia-Pacific region. India has become an increasingly important market for Apple in recent years, with a substantial portion of the company's revenue—approximately one-third or $130 billion in 2022—coming from the Asia-Pacific region.
The two newly opened stores in India have reportedly achieved impressive sales figures, with monthly revenues ranging from Rs 22-25 crore each, surpassing those of other electronics stores during non-festive months. Apple's CEO, Tim Cook, has repeatedly emphasized the significance of India for the company, recognizing its potential as both a major market and a production hub.
During an earnings call, Cook mentioned India nearly 20 times, citing the expanding middle class and the vibrant nature of the market. In the financial year 2023, Apple recorded sales of around $6 billion in India. In addition to its expansion plans in India, Apple is also focused on opening new stores in other countries, including China, Japan, Europe, and the UAE. These endeavours are seen as crucial for Apple's ongoing growth and success in the global marketplace.
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