Apple is finally establishing retail stores in India by partnering with Croma, a consumer electronics retailer operated by Infiniti Retail, a wholly-owned subsidiary of Tata Group.
The Apple Stores will be set up at Croma stores located in Malad, Juhu, Oberoi Mall, Phoenix Mall, and Ghatkopar in Mumbai and Bengaluru, Jayanagar. The Apple Stores will occupancy a space of 400-500 square feet.
Apple is expected to open its stores during the Diwali/Deepavali festival in November this year. It will be selling its entire range of products.
Apple Stores in India will be modeled on the global design
Infiniti Retail CEO Avijit Mitra said, “We are proud to partner with Apple to launch the Apple Store in India, and extremely bullish about it.” Mitra added that tech giant’s stores in India will be modeled on the global design and will offer the best experience for consumers. Apple will train its sales staff in India.
The mandatory local sourcing regulation for a single-brand foreign investment in retail has been preventing Apple from establishing its stores in India. Partnering with Croma is a strategic move for the tech giant to control consumer’s experience without dealing with bureaucratic red tape, according to the publication.
India is one of the fastest-growing markets for Apple
India is now one of the fastest-growing markets for Apple, which is the reason the tech giant is increasing its retail presence in the country.
Data from Counter-Point Research showed that Apple sold 1.7 million iPhones from October 2014 to September 2015, higher than the 1.1 million iPhones it sold during the same period a year earlier.
Apple is currently selling its products in India through premium resellers, who own exclusive brand stores under the franchise models. Some multi-brand mobile and consumer electronics retail chains, as well as large neighborhood phone stores, are also selling Apple products.
Prime Minister Modi invited Apple to make products in India
Apple’s partnership with Croma came after Indian Prime Minister Narendra Modi invited the tech giant to establish a manufacturing base in the country during his meeting with CEO Tim Cook last month.
Mr. Cook responded positively to the invitation of Prime Minister Modi. He stated that India fits with the tech giant’s long-term plans. He was interested in a “whole app development economy,” which he believes is an important factor for entrepreneurship.
