Tim Cook, Apple CEO, opened the doors of the first India store in Bandra-Kurla Complex (BKC) in Mumbai on Tuesday. The launch marks the direct retail foray of one of the world’s most valuable brands into India, more than 25 years after the US tech giant began its operations here.
Since then, Apple has gained much ground, clocking a record revenue growth of $6 billion in FY23 versus $4.1 billion in FY22, a Bloomberg report said. Cook has indicated in earnings calls that India is a “hugely exciting market”, where his company is putting a lot of emphasis.
Cook, who is on a nearly week-long visit to India after 7 years, tweeted that the energy, creativity and passion in Mumbai was incredible. “We are so excited to open Apple BKC — our first store in India,” he said in a tweet on Tuesday.
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On Monday, the 62-year-old CEO met Indian corporate leaders like RIL chairman Mukesh Ambani and Tata Sons’ chairperson N Chandrasekaran.
He spent time with Apple’s retail team members on Monday and Tuesday, ahead of the launch of the Mumbai store, which is located at Reliance’s Jio World Drive, a mall in BKC. Cook will next be in Delhi for the launch of Apple’s second store in India on April 20.
While Apple launched its online store almost three years ago in India, it has largely depended on a network of online and offline retailers, including authorised resellers, multi-brand operators and e-commerce channels for sales in India.
Speaking to FE, Nilesh Gupta, MD, Vijay Sales, an electronics retailer with stores across the west and north of India, says that he sees no problem with the launch of Apple stores in country.
“I actually see this as an opportunity for brand-building and further growth in sales,” he said. “Even if they launch more outlets, not everyone will be able to make it to these stores, given the size of India and the aspirations of people wanting to own an Apple product. The word-of-mouth and excitement going around following the launch will positively impact all of us who stock and sell Apple products in the country. I see more consumers wanting to buy Apple products in the future,” Gupta said.
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This excitement was visible at the Mumbai store launch on Tuesday. Dhiresh, 16-year-old and a resident of Mumbai, carried a picture of Cook, which he had created a day before. “I am excited to meet him,” he told FE. “I follow Apple very closely. And it would be a dream come true for me if I can meet him in person,” he said.
Yash, a 17-year-old and also a Mumbai resident, said making it to the Apple BKC store launch was an opportunity he didn’t want to miss. “My exams begin from Wednesday. I took some time off to come here. It’s worth it,” he said.
Sanchi, a 28-year-old Ahmedabad resident, flew down to Mumbai for the store launch. “I’ve seen Apple stores abroad. They are wonderful. To have one here in India is truly exciting. I can’t wait to get in,” she said.
Cook is expected to meet Prime Minister Narendra Modi and Union minister of state for electronics and IT Rajeev Chandrasekhar on Wednesday.
While Apple has been manufacturing older iPhone models in India since 2017, it began assembling the most recent smartphone models — iPhone 14 — in 2022.
