- By Vikas Yadav
- Mon, 22 Apr 2024 09:00 PM (IST)
- Source:JND
Apple CEO Tim Cook inaugurated two flagship retail stores in India last year. As these outlets complete their first year, they have returned promising revenue. According to The Economic Times, these stores clocked 190-210 crore each in the previous fiscal year. And it seems the company could consider opening more stores after these results.
These figures allow these stores to join ranks with leading retail stores globally. According to the source cited in the report, these Apple stores have registered Rs 16-17 crore monthly sales each (on average) since launch. While the figures are higher for Mumbai, they have "met Apple's expectations" and matched some of the top-performing store launches. This has reportedly led the company to consider three more "company-owned stores".
Also Read: Apple Is Planning To Open Three More Stores In India By 2027, Says Report
Three More Apple Stores In India Soon?
According to the industry executive cited in the report, the talks are in the advanced phase for one store each in Bengaluru and Pune and an outlet in the National Capital Region (NCR) in Noida. These will likely be located in well-known shopping malls. Apple was reportedly waiting for a year after the Saket and Mumbai store launches before finalising its phased expansion plans. The average selling prices of these stores are similar to India's average.
Apple Store in Saket, New Delhi (Image:Apple)
Apple Vision Pro Heading To India?
Apple also plans to launch the Vision Pro headset in India soon, according to a source familiar with the matter. An announcement concerning this may follow at the Worldwide Developers Conference (WWDC) 2024 in June, the executive said. On a related note, Apple enjoyed a share of 7 per cent in the smartphone market in India last year, which it plans to inflate to double digits, ET reported.
Moving back to Apple stores, the lack of discounts and offers at these outlets often pulls away customers to other resellers like Reliance Digital and Croma. Buyers may consider experiencing the smartphone product at the Apple Store and later buy it from elsewhere because of discounts.