Apple’s first India retail store launch comes amid a booming premium market

Apple is all set to launch its first company-owned retail store in India later this month. The timing of the launch is significant as India is becoming an increasingly important market for the company in terms of sales and manufacturing capabilities. Additionally, there is a growing trend among Indian consumers towards premiumisation.

On April 5, Apple unveiled a barricade of the upcoming retail store, called Apple BKC, that would be situated at the Jio World Drive Mall in Mumbai. The company said it drew inspiration from the iconic Kaali Peeli taxi art unique to Mumbai, which includes “colourful interpretations” of the decals combined with several Apple products and services that will be available to its customers.

In recent quarters, Apple executives have mentioned several times that they are witnessing record revenue growth in terms of iPhone sales in India, registering a strong double-digit increase every quarter.

Apple chief executive officer Tim Cook stated during the company’s earnings conference call in February 2023 that India is a “hugely exciting market” for the Cupertino tech giant, and the iPhone maker is putting a lot of emphasis on the world’s second-largest mobile phone market. Apple also witnessed “record levels” of people switching to iPhone in the country, Cook said.

Cook said they are taking several measures to grow the iPhone adoption in the country by making it more affordable through various financing options and trade-ins. The company introduced its online store in India in 2020.