The iPhone manufacturer also inked a lease deal that forbids roughly two dozen technology, electronics, and e-commerce companies from setting up shop anywhere close to its soon-to-be-opened store at Mumbai’s Reliance Jio World Drive mall.
The Jio World Drive mall in Mumbai will host the opening of Apple’s first-ever retail location in India on April 18, according to a statement released on Tuesday. A second one will debut on April 20 at the Select Citywalk shopping centre in Saket, Delhi.
According to a press release from Apple, “these new retail locations represent a significant expansion in India and will provide great new ways for customers to browse, discover, and purchase Apple products with exceptional service and experiences.”
The barricade for Apple Saket was unveiled by the iPhone manufacturer on Tuesday. It is modelled after Delhi’s numerous gates and represents a new chapter in the city’s colourful history.
Apple BKC announced a special series named “Mumbai Rising” to commemorate the inauguration of the first Apple Store in India. During events that offer hands-on activities with Apple devices and services and highlight the local community and culture in Mumbai, the business will bring together tourists, local artists, and creatives.
Apple’s Mumbai retail store is anticipated to welcome customers this month, according to an earlier report from ET.
Additionally, the iPhone manufacturer has inked a lease agreement that forbids almost two dozen technology, electronics, and e-commerce companies from setting up shop anywhere close to its soon-to-be-opened store in Mumbai’s Reliance Jio World Drive mall.
The corporation has designated 22 companies, including Amazon, Facebook, Google, LG, Microsoft, Sony, and Twitter, that must be kept outside of its “exclusive zone,” according to the lease agreement obtained by data analytics company CRE Matrix. Stores, hoardings, and advertisements all fall under this category.
Along with these companies, the list also includes Bose, Dell, Devialet, Foxconn, Garmin, Hitachi, HP, HTC, IBM, Intel, Lenovo, Nest, Panasonic, and Toshiba.
Apple has a lease for more than 11 years that includes a 15% rent increase provision every three years. In addition to a minimum guarantee payment of Rs. 42 lakh per month for a space measuring around 20,800 square feet, the corporation will also contribute 2% of its revenue share for the first 36 months and 2.5% thereafter. Tim Cook, the CEO of Apple, is expected to travel to India this month to celebrate the opening of the Mumbai store, according to a report from ET on April 6.
Cook will also have critical ministry meetings to discuss important issues including Indian exports and business growth. Depending on the circumstances, the visit may include a meeting with Prime Minister Narendra Modi, according to sources.
