Mumbai: Apple has leased an ‘exclusive zone’ in the Jio World Drive mall owned by richest Indian businessman Mukesh Ambani.
Apple will reportedly pay a record-breaking rent of over Rs 42 lakh per month for the space.
The move is seen as a significant step towards expanding Apple’s presence in India, which has long been a challenging market for the company. The decision to locate the store in a Reliance-owned mall is also notable, given the deepening ties between the two companies.
But the location and the rent are not the only things making waves in the tech world – the fact that Apple has allegedly kept out its rivals from the mall is also causing a stir. Sources say that the lease agreement between Apple and the mall management prohibits any other tech companies from opening stores in the mall.
This has led to speculation that Apple is using its financial clout to edge out its competitors from the market, and cement its position as the dominant player in the Indian tech scene. However, others argue that Apple is simply taking steps to protect its brand and create an exclusive shopping experience for its customers
Apple has announced its second official store in India – Saket, New Delhi. Due to start operations from 20th of April. Whatever the case may be, the launch of Apple’s first retail store in India is sure to be a major event in the tech world, and could mark the beginning of a new era for the company’s fortunes in the country. With its high-end products and aspirational brand image, Apple is sure to attract a lot of attention from Indian consumers, and could help to reshape the country’s tech landscape in the years to come.
