Apple does not have an official retail store in India yet. The company works with third-party partners to sell its products in India. There are various Apple-exclusive retail outlets. According to Apple, the process of opening its own store has taken time because Apple has been seeking approval to operate in India without any local partner.
The annual shareholder meeting was held at the Steve Jobs Theatre in Cupertino. Apple CEO announced the opening of the India store in front of investors present at the meeting. The comments pertaining to Apple stores in India come months after the Indian government eased the 30% local sourcing norm in single-brand retail (SBRT).
Apple’s first physical store in India may be launched in Mumbai. Some reports also indicate that it may launch a similar store in New Delhi at the same time. Apple also plans to launch an online store in India.
The company showed interest in retail operations in India in August last year. In a press statement, Apple had said, “We appreciate the support and hard work by Prime Minister Modi and his team to make this possible and we look forward to one day welcoming customers to India’s first Apple retail store. It will take us some time to get our plans underway and we’ll have more to announce at a future date.”
During Apple’s earnings call last month, the company reported double-digit growth for iPhone models. Tim Cook is a huge believer in the opportunities in India. The second-biggest population of the world has unparalleled vibrancy and demographics, which Apple can leverage to improve its market share in the country.