Apple's 3rd India store to open in B'luru

Apple India has zeroed in on Bengaluru for opening its third retail outlet after Mumbai and Delhi, which were opened in 2023.

- PRACHI PISAL & GULVEEN AULAKH

For the third outlet, the iPhone maker has leased 8,000 square feet (sq ft) of retail space in Bengaluru's Phoenix Mall of Asia, which will be smaller than its first flagship store spanning more than 20,800 sq ft in Jio Mall in Bandra Kurla Complex, Mumbai. However, it will be as large as Apple's second outlet in Select Citywalk Mall in Delhi's Saket.

According to lease-related documents from real estate data analytics firm Propstack, Apple India will be paying an annual rent of ₹2.09 crore for the Bengaluru retail store, which translates to a monthly rent of ₹17.4 lakh. Along with the rent, Apple will also pay 2 per cent of its revenue for the first three years of the lease tenure and 2.5 per cent thereafter to the landlord.