Until recently Apple couldn’t set up exclusive stores in India due to the earlier foreign direct investment rules. However, in the latest budget, the Indian government announced that it will relax the norms and this came as a sigh of relief for Apple. Now a report by Economic Times says that Apple is all set to open its first Apple Store in India. The store will be located in Maker Maxity mall, Bandra Kurla Complex in Mumbai.
The Bandra Kurla complex is typically bustling with commercial activities and according to the report, the Apple Store will occupy a staggering 20,000-25,000 sq ft of space in the mall.
The upcoming flagship store in BKC will be the largest Apple store in India and will be three times the size of its largest franchisee run 8,000 sq ft outlet in Mumbai. The Flagship Apple Premium Reseller (FAPR) store opened in August occupies two floors in Mumbai’s High Street Phoenix mall and showcases Apple’s entire range available in India.
Until now Apple had a network of resellers like Ingram Micro, Redington, and others. However, the Cupertino company was not able to open the Apple Store in India due to the norms. Previously, the rules required companies to base a minimum of 30 percent production locally. However, the rules were changed recently and it allowed for single-brand license holders to include exports and contract manufacturing.
Apple declined to comment, however, the company issued a statement that read “It will take us some time to get our plans underway and we’ll have more to announce at a future date.” The first Apple Stores opened up in 2001 and ever since then the company has been opening new stores at prime locations globally. Apple Stores are a great way to experience new Apple products and learn about the new features.[via Economic Times]