Apple’s two company-owned stores in India, having completed their first year of operations, have each generated revenues of ₹190-210 crore in the last fiscal year, positioning them among the company’s top-performing retail stores globally.

What Happened: According to an industry executive who spoke to ET, these stores, located in Mumbai and New Delhi, have consistently recorded monthly sales averaging ₹16-17 crore. The Mumbai store, being larger, slightly outperformed the Delhi outlet.

Launched with much fanfare and attended by CEO Tim Cook on April 18 and 20 last year, these stores have lived up to Apple's expectations, rivalling some of the company’s most successful global store launches. Now, Apple is actively searching for locations to open three more stores in Pune, Bengaluru, and Noida, aiming to expand its physical retail presence in prominent Indian malls.

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Why it matters: The focus on increasing retail presence in the country comes about as Apple intensifies its focus on India, the world's second-largest smartphone market, amid declining sales in the US and China.

The company is expanding its local manufacturing for domestic sales and exports while seeing consistent double-digit revenue growth quarterly since the stores opened. Apple's retail efforts, alongside its growing manufacturing base in India, are part of a strategic push to increase both its market share and brand presence in the country.

Moreover, the presence of Apple stores in India is key to launching high-end products like the upcoming premium mixed-reality headset, Apple Vision Pro, expected to be announced at the WWDC developer conference in June. These stores not only boost sales but also enhance customer experience and engagement with the Apple ecosystem through events and direct product interaction, which differ from the more transactional nature of authorized resellers.

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