Apple has banned Amazon, Bose, Devialet, Facebook, Foxconn, Alphabet/Google, Huawei, Intel, Lenovo, LG, Microsoft, Nest, Nokia, Panasonic, Samsung, Sony, Vivo, Xiaomi, Oppo and OnePlus from opening new stores in the exclusivity zone.
Apple iPhone, Apple AirPods and other Apple products worth over Rs 10 crore were sold on the first day of Apple Saket launch, a new report by Economic Times suggests. Apple Saket store was inaugurated by Tim Cook on April 20 as the brand’s second official retail store in India. According to the report by ET, Apple BKC and Apple Saket store were able to secure sales around Rs 10 crore on the opening day. For those who are unaware, the sales of Apple stores on opening day is around Rs 2-3 crore more than what popular local electronics stores record in a month. Although both Apple BKC and Apple Saket recorded similar opening-day sales, it is a bigger win for the latter as it has significantly less space than the Mumbai store and it is comparatively expensive too.
Apple has leased 8,417.83 square feet space on the first floor of Delhi’s Select Citywalk mall for which the company is paying around Rs 40 lakh per month along with some revenue share contribution. On the opening day, the store witnessed long queues of Apple fans waiting to enter the store and meet CEO Tim Cook. If the report by ET is to be believed, the store saw a footfall of 6000 on the very first day. The store that has been leased by Apple for 10 years was previously occupied by Aditya Birla Group’s fashion brand Pantaloons.
Apple signed the deal with the mall in July 2022 and the company has given a list of 20 brands that cannot have stores near it. The company’s mentioned in the contract include Amazon, Bose, Devialet, Facebook, Foxconn, Alphabet/Google, Huawei, Intel, Lenovo, LG, Microsoft, Nest, Nokia, Panasonic, Samsung, Sony, Vivo, Xiaomi, Oppo and OnePlus. As per the agreement, the rent and revenue share contribution will increase every three years.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Apple Saket")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}