Apple products will now be available for sale at Apple’s first retail store in Mumbai.
However, Apple will not be permitting any other competitor’s stores to open in an “exclusive zone” in the mall.
Read on to find out all the details!
First Apple Store To Open in Mumbai: Apple Launches Exclusive Zone
The first retail location of Apple in India will open in the near future at the Reliance Jio World Drive mall in Mumbai, where customers may purchase Apple iPhones, AirPods, iPads, and other Apple products.
Apple has rented a “exclusive zone” in the Ambani-owned mall to ensure that the business makes the most of the opening of its first official store in the nation, which has been widely anticipated.
According to Apple’s lease agreement, the mall’s 22 competing brands—including Microsoft, LG, Amazon, Facebook, Sony, and others—are not permitted to occupy the space or even use it for advertising purposes.
CRE Matrix, a provider of information analytics, collected this data.
No Other Competitors Allowed?
According to the lease, none of the 22 competitors to Apple will be given any leases, licenses, sublicenses, subleases, or other arrangements with the Reliance Jio World Drive mall.
Additionally, Apple has an 11-year lease for a total of about 20,800 square feet at the Ambani-owned mall in Mumbai. The study states that 42 lakh rupees will be paid in rent, with a revenue sharing contribution of 2% for the first three years, and then increasing by 15% every three years after that. The report also states that after the first three years, the revenue-sharing contribution will rise to 2.5%.
At Mumbai’s Jio World Drive Mall, a barricade announcing the opening of Apple’s first physical location has been unveiled. The famous Mumbai “Kaali Peeli” taxi art served as inspiration for this Apple BKC creation, which also integrates a number of Apple goods and services.
It’s interesting to note that the store’s marketing materials include a cheerful “Hello Mumbai” greeting for passersby.
At a later time, Apple may also open a retail location in New Delhi.
