Apple Inc. is working and planning to expand and rejuvenate its retail network, aiming to push into China and other Asian markets, alongside revamping the existing stores in the United States and Europe, bloomberg reported.
According to people with knowledge of the deliberations revealed that Apple Inc. is currently in discussions to open a total of 15 new stores in the Asia-Pacific region, five in Europe and the Middle East, and four in the United States and Canada by 2027. Additionally, the company plans to revamp or relocate six stores in Asia, nine in Europe, and 13 in North America. In total, the company is proposing 53 new, relocated or remodeled stores planned over the next four years.
According to Bloomberg, the most notable new stores under discussion or in development include three sites in India, the company’s first outpost in Malaysia and an upgrade to Apple’s historic location in the Opera shopping area of Paris, according to the people. It’s also soon opening a store at the Battersea Power Station in London by its new local headquarters and is planning an additional location in Miami. And there’s a flagship store slated for the Jing’an Temple Plaza in Shanghai.
Current numbers of Apple retail stores
With a presence in 26 countries, Apple presently operates over 520 stores, approximately half of which are situated within the United States. While renowned for their profitability per square foot, these stores primarily focus on building and enhancing Apple's brand rather than serving as primary sales outlets. The majority of Apple's revenue is generated through other channels, notably its e-commerce platform. Nevertheless, the physical stores continue to play a pivotal role as important destinations for customers to purchase new products on launch days, receive technical assistance, and attend educational sessions.
Types of retail outlets of Apple
Apple operates four types of retail outlets, according to internal specifications: a standard store within indoor malls, “Apple Store+” locations that can be in outdoor malls or on city streets, “flagships” in key areas with unique designs, and “flagship+” stores, which are the largest and most expensive to operate. Regular stores typically generate more than $40 million annually, while Apple Store+ locations bring in over $45 million, according to internal data. The flagships generate more than $75 million, while the flagship+ sites make over $100 million annually, reports bloomberg.
Apple new retail stores plans
The main focus of the expansion is the Asia-Pacific region, where Apple intends to establish or renovate a total of 21 sites by 2027. Apple has set its sights on expanding its retail presence with new store. In the coming year, Apple plans to inaugurate its first store in Kuala Lumpur, Malaysia. Looking ahead to 2025, discussions are underway for the launch of the company's third store in India, located in the Borivali suburb of Mumbai. Additionally, Apple is proposing the establishment of its fourth store in India, set to open in 2026. This new store, to be situated at the DLF Promenade mall in New Delhi, has the potential to become Apple's second-largest location in India, following the successful debut of the Bandra Kurla Complex store in Mumbai in April.
Apple is actively planning to expand its retail presence in various regions. In Germany, the company is proposing the establishment of a new store in Dortmund, adding to its existing portfolio of over a dozen sites in the country. Turning to the United States, Apple is considering several new locations for next year, including a mall store in Torrance, Southern California, and a spacious new store at the prestigious $4 billion Worldcenter development in Miami. Additionally, discussions are underway for the eventual opening of a significant new store in Detroit and the relocation of a store in Ann Arbor, Michigan. Looking ahead to 2025, Apple aims to introduce its second outlet in Kansas with a sizable store in Wichita, while also planning three other store relocations in the United States.
