Apple is set to expand its retail footprint in India with plans to open a new store in Bengaluru. This will be the third official Apple Store in the country. This move follows the news of its top manufacturing partner, Foxconn, also expanding in the country.
This expansion in India aligns with Apple’s broader plan to diversify its supply chain and reduce reliance on China amid ongoing trade tensions in the US. The company has been increasing its manufacturing capabilities in India, with plans to produce a significant portion of its iPhones in the country by 2027.
According to the Business Standard, Apple’s latest store will be located in Bengaluru’s Phoenix Mall of Asia, and take up 8,000 square feet of space. It’ll be on the first floor of the mall, occupying units F-39 to F-42. Apple will be paying an annual rent of around $244,000 for the location, increasing by 15% every three years.
Moreover, Apple has reportedly ensured exclusivity in the mall by providing a list of competing companies that will not be able to lease out a retail space in the same mall.
Currently, India has two Apple Stores in Delhi and Mumbai respectively. It seems like the country will continue to attract greater investment from the tech giant in both retail and manufacturing spaces.
