For those who are unaware, Apple BKC is among the first official Apple retail stores launched by the company in India. Ambani-owned mall in Mumbai has an 11-year deal with Apple for a space of around 20,800 square feet.
Apple iPhone 15 series went on sale in India on September 22 on offline and online stores across the country. Apple fans are rushing towards the nearest outlets to get their hands on the company’s new flagship series, however, a store got special attention from the buyers. Apple BKC which is situated in Mukesh Ambani owned Jio World Drive Mall in Mumbai is flooded with Apple fans as they queue up to get the newest Apple iPhones. A long queue of buyers is often seen whenever a new iPhone model comes to the market but the crowd at the Ambani owned mall is unlike any other. As shown by ANI, one of the buyers waited outside the Apple store for 17 hours to get his new device. The Apple iPhone 15 series price in India starts at Rs 79,900 and it goes up to Rs 1,99,900. Surprisingly, Apple isn’t the only one who’ll benefit from the sales. India’s richest man Mukesh Ambani will also earn big from the Apple iPhone 15 sales at the Apple BKC store.
For those who are unaware, Apple BKC is among the first official Apple retail stores launched by the company in India. Ambani-owned mall in Mumbai has an 11-year deal with Apple for a space of around 20,800 square feet. The rent of the store will increase by 15% every three years and the company is paying a minimum monthly payment of Rs 42 lakh along with a 2% revenue share contribution for the first three years. The revenue share contribution will increase to 2.5% after the first three years.
According to a report by the Economic Times, Apple BKC recorded sales worth over Rs 10 crore on the opening day and in a month, the store is doing around Rs 25 crore of sales. As per the agreement, Apple will pay Rs 42 lakh rent along with Rs 50 lakh as revenue share contribution to Mukesh Ambani every month.
The Ambani-owned mall has provided an exclusivity zone to Apple bars 22 competing brands including Amazon, Facebook, Google, LG, Microsoft, Sony, and others from occupying space or displaying any advertisement inside the exclusivity zone of the mall.
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