Apple recently unveiled the first glimpse of its upcoming retail store in Mumbai, India, dubbed Apple BKC. Set to be the company’s maiden store in the country, it will be housed in the Jio World Drive Mall, owned by Mukesh Ambani, in the bustling Bandra Kurla Complex.
According to a report by The Economic Times, Apple’s first store in India will have stringent exclusivity measures in place, which will affect 22 “competing brands.” The report cites an exclusive lease agreement accessed by information analytics firm CRE Matrix. These brands will be prohibited from having a retail presence or advertising near the Apple BKC store.
The lease agreement stipulates an 11-year term between Apple and the Jio World Drive Mall, with a 15 per cent annual rent increase. Occupying approximately 20,800 square feet, the store will require Apple to pay a monthly rent of Rs. 42 lakh. In addition, the tech giant will share 2 per cent of its revenue for the first three years, increasing to 2.5 per cent thereafter.
Apple has taken extensive measures to ensure that two dozen technology, electronics, and e-commerce firms cannot operate in the Reliance Jio World Drive mall’s “exclusive zone,” encompassing stores, billboards, and advertisements. The lease agreement lists 21 of the 22 rival brands, including Amazon, Facebook, Google, LG, Microsoft, Sony, Twitter, Bose, Dell, Devialet, Foxconn, Garmin, Hitachi, HP, HTC, IBM, Intel, Lenovo, Nest, Panasonic, and Toshiba. Samsung is likely to be the 22nd competing brand.
Apple is also planning to launch a second, smaller retail store in New Delhi, although the details of this location have not been disclosed. Apple has yet not announced an official opening date for the Mumbai store, however, as per rumors it may open its doors as early as April.
Apple’s first flagship store in Mumbai has generated significant buzz, with the company seeking to provide Indian customers with the full Apple Store experience, free from distractions. The upcoming store’s exclusivity measures demonstrate Apple’s commitment to maintaining its unique retail environment and protecting its brand identity in the Indian market.
