Mumbai’s new Sky City Mall — image credit: Sky City Mall, Incline Realty
Apple’s retail expansion in India continues, with the latest being a new brick and mortar store planned for the country’s newest shopping mall in Mumbai.
Following Tim Cook and Deirdre O’Brien opening Apple’s first store in Mumbai in 2023, the company is now, as expected, preparing to open a second Apple Store in the city. According to The Hindu Business Line, Apple has signed a lease for 10 years and 10 months for 12,616 square feet in Sky City Mall, Borivali East, Mumbai.
Back when Apple first opened retail stores, it aimed to have ones that were around 6,000 square feet. By 2012, that was proving inadequate and an average store was 8,400 square feet.
There have always been exceptions, though, and in particular with Apple’s flagship stores. The one in London’s Covent Garden, for instance, is 40,000 square feet — and New York’s Apple Fifth Avenue is 77,000 square feet.
This new Indian store is around 13 miles north of the existing 20,000 square foot Apple BKC.
The reason for the unusual 10 years and 10 months lease option is that Apple has secured the first 10 months rent-free. After that, it will reportedly be paying around $21,000 per month in rental for the store.
For the first 42 months, Apple will also pay a 2% revenue share per quarter, growing thereafter to 2.5%. This is typical for retail in the area.
Separately, Apple is still expected to open new stores in Bengaluru and Pune, as well as a second one in Delhi. Apple also took office space in Bengaluru in 2024.
By that time, it was reported that India’s first two stores were contributing almost 20% of all of Apple’s business in India. The company continues to sell via third-party resellers, plus it is continuing to expand its manufacturing in the country — despite objections from Trump.
Most recently, it was reported that Apple is also increasing its repair services in India, in new deals with the country’s Tata Group.