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HomeBusinessApple’s India stores join ranks of iPhone maker’s top-performing retail stores globally

Apple’s India stores join ranks of iPhone maker’s top-performing retail stores globally

Apple’s two India-based company-owned stores, which recently celebrated their first anniversary, have each generated impressive revenue of Rs 190-210 crore in the previous fiscal year, placing them among the top-performing retail outlets of the


maker worldwide.
According to an industry insider quoted by ET, “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.”
The source added, “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.”

Apple stores in India

Apple stores in India

Apple’s CEO,

Tim Cook

, personally attended the store openings in Mumbai (

Apple BKC

) on April 18 and New Delhi (

Apple Saket

) two days later. The company is now in advanced discussions to establish stores in Pune, Bengaluru, and a second outlet in Noida, NCR, all of which will be located in prominent malls, as confirmed by two industry executives.
One executive mentioned that Apple was waiting to complete a year of operations at its first two India stores before finalizing plans for further expansion.

Another executive familiar with the matter stated, “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.”
The executive also hinted at the company’s plans to introduce its premium mixed-reality headset, the Apple Vision Pro, in India soon, possibly during the upcoming WWDC developer conference in June.
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Apple has declined to comment on these developments.
Apple has been focusing heavily on India, the second largest smartphone market globally, as it faces challenges in key markets like the US and China. The company has been expanding its local manufacturing operations for both domestic use and exports, and the opening of Apple stores has been a key aspect of its market expansion strategy in India. Apple has seen double-digit revenue growth every quarter since the stores opened.
The retail stores are part of Apple’s efforts to increase its volume and value share in India, with the goal of reaching a double-digit smartphone volume market share as quickly as possible, up from around 7% in 2023.
Industry executives close to Apple have noted that the stores provide customers with a place to experience products, receive service for existing products, and get their questions answered. The high footfall, especially on weekends, is attributed to these being the first Apple stores in India.
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According to industry executives, the Apple stores offer both tangible and intangible benefits. They serve as a point where people can experience Apple products, familiarize themselves with the Apple ecosystem through “Today at Apple” sessions, and receive expert advice on using Apple products more effectively. The stores also contribute to brand building.
An employee at the Apple store in Mumbai’s Bandra Kurla Complex (BKC) mentioned that she now knows some of her regular customers by name, while another employee at the Mumbai store said the store’s location has helped footfalls grow month-on-month. However, some executives point out that these flagship stores are not primarily focused on sales, as they do not offer discounts like authorized resellers or large-format retail stores.
Footfalls are highest during new product launches, festivals, and weekends. A Croma store employee near the Apple Store in Delhi noted that customers often experience products at the Apple Store but purchase them from Croma due to discounts and financing options.