Apple will open its third retail store in India in Bengaluru’s Phoenix Mall
As anticipated, Apple is advancing plans to expand its Apple retail footprint in India, building up its customer-facing business in one of the world’s growing economies. It makes good business sense to do so – just as it makes economic sense for Apple’s home nation, given the extent of earned wealth the company brings home.
A smaller store, but in a luxury mall
Apple now plans to open its third retail store in India’s Bengaluru Phoenix Mall.
This 8,000-square foot store will be one of several, Apple also intends opening up in Pune, Mumbai, and Delhi-NCR. Apple CEO, Tim Cook recently told shareholders the company intends to launch up to four more stores in Insia over the next year. Apple set new records in sales performance in India.
The Bengaluru Apple store will be the smallest in terms of size compared to the existing two stores in Mumbai (20,800 sq. ft) and Delhi (8,417 sq. ft).
The size may outweigh its importance, as it will be situated in one of India’s top tier shopping malls, home to many of the world’s luxury brands. Brands the mall won’t feature includes competitors as Apple has forbidden the mall owners to provide retail units to them under its lease.
Tariffs, tensions, and forward planning
Apple’s retail expansion in India should help protect the company. While tariffs and trade tension in the US mean inflation and much higher prices will inevitably impact consumers there, driving down living standards and likely pulling many of the world’s advanced economies down with the ship, India is likely to continue to generate growth as 5G network expansion opens the market up to opportunity.
Apple and its partners also continue to make iPhones in India, and even if Apple shifted production of devices intended for the US market to the US (making for much more expensive devices there), it is unlikely to abandon its investments in manufacturing in India.
This makes the nation important both economically and strategically to a company seeking future growth – particularly as India is actually experiencing such growth, rather than engaging in magical thinking in the hope of some.
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