Apple has earned a new honour in India by operating the country’s largest electronics retail outlet in terms of sales. According to the statistics, the iPhone maker’s first two own stores in India have made monthly sales of more than Rs 22-25 crore apiece, more than twice what may be the biggest revenue for an electronics store in the nation during the non-Diwali period.
The Mumbai store debuted on April 18, followed by the New Delhi location two days later and Apple CEO Tim Cook attended both inaugurals.
The Mumbai store in Jio World Drive in Bandra Kurla Complex is currently among the top ten stores owned by the iPhone maker. Apple BKC had a first-day billing of more than Rs 10 crore, which is approximately Rs 2-3 crore more than what some of the top local electronics stores post in a month.
Even on Diwali, such major stores may only have billings of Rs 3-5 crore. The second store, at Select Citywalk mall in Saket, New Delhi, has a greater per-square-foot revenue. Apple Saket is over 10,000 square feet, which is less than half the size of Apple BKC, which is 22,000 square feet. However, revenues are nearly same. Both locations had nearly 6,000 visitors on their first day.
The Apple retail store operation in India is handled solely by regional headquarters in London, with no direct engagement from the India sales team. However, sales will be recorded under Apple India Pvt Ltd because this firm signed the rental agreements with the two malls. The iPhone maker operates the Saket store on a fixed rent basis, whereas the BKC store has a revenue share component of little more than 2%.