• Source:JND
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Mumbai News: Apple is set to strengthen its presence in India by opening a new retail store in Mumbai's Borivali area. According to reports, the tech company has rented a 12,616 sq ft space in Oberoi Sky City Mall for this purpose. The move comes after Apple launched two flagship stores in Mumbai’s BKC and Delhi’s Saket in 2023.

The lease agreement, signed with Incline Realty Pvt Ltd, started on May 8, 2025. The deal also includes a storage area of 150 square metres and five parking spaces. Apple has agreed to an 11-year lease term, with a near 11-year lock-in period. The company will pay a monthly rent of Rs 17.35 lakh, which will increase by 15 percent every three years. A security deposit of Rs 1.04 crore has also been paid.

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In addition to the fixed rent, Apple has accepted a revenue-sharing arrangement. For the first 42 months, the company will pay 2 percent of the store’s revenue, which will rise to 2.5 percent after that period.

The upcoming store in Borivali is expected to help Apple reach more customers in one of Mumbai’s most crowded residential and commercial zones. This expansion also signals Apple’s broader push to increase its offline retail network in India.

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Apple’s Senior Vice President of Retail, Deirdre O’Brien, had earlier said the company is excited to grow its retail operations across India. Meanwhile, Apple is also exploring potential store locations in Bengaluru, Pune, and the Delhi-NCR region, though exact launch dates are yet to be revealed.

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