Apple is going all-in on India — and they’re not cutting any corners.
Their newest store? A huge 8,000 square feet spot in Bengaluru’s Phoenix Mall of Asia. The rent? Over 2 crores a year. But here’s the kicker — Apple is also giving the landlord 2% of their revenue for the first three years, and a little more after that.
Plus, a security deposit that’s more than 1 crore. Every three years, the rent and deposit jump up by 15%. This isn’t just a store, it’s a serious, long-term power move.
And Bengaluru isn’t even the biggest flex. Apple already has massive leases in Mumbai and Delhi.
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Mumbai’s flagship is a whopping 20,800 square feet at Jio World Drive, BKC, with rent reportedly hitting around 5 crores a year — plus that same revenue share deal.
Delhi’s Saket store is 8,400 sq ft, with nearly 5 crores rent annually — but no revenue share there. These aren’t your average Apple stores. They’re huge investments to show India they’re here to stay.
And this is just the start. Apple plans to open even more stores across India.
Why India? Because the smartphone market here is exploding — it’s now the second biggest in the world after China. While Apple’s sales in China are slowing down thanks to local competition, India is booming. Between January and March this year, iPhone sales jumped 25% compared to last year. In 2024, Apple sold over 10 million iPhones in India — a new record.
But Apple’s not just selling phones. Nearly 14% of iPhones are now made in India, thanks to factories in Tamil Nadu and Karnataka. Making phones locally means Apple skips hefty import taxes and can price their products better — all while supporting India’s “Make in India” push.
And these stores? They’re way more than just places to buy phones. They’re experience hubs, offering workshops, support, and community events. It’s a smart way to build brand love and lock in the next generation of Apple fans.
