You will soon be able to purchase Apple iPhone, AirPods, iPads and other Apple devices that will soon be sold in India at the brand’s first retail store which will soon be opening at Reliance Jio World Drive mall in Mumbai.
Apple to lease an exclusive zone
The launch of the tech giants first official store in the country is long awaited and to make sure that the company makes the most of the launch Apple has leased an ‘exclusive zone’ in the Ambani-owned mall, reported the Economic Times.
According to the report, Apple’s lease agreement states that its 22 competing brands including Microsoft, LG, Amazon, Facebook, Sony, Google and others will not be able to occupy the space or even display any form of advertisement inside the exclusivity zone of the mall.
The Economic Times report claims that this information was obtained by information analytics company CRE Matrix. And the lease clearly states that the Reliance Jio World Drive mall will not be allowed to grant any leases, licenses, sublicenses, subleases, or other agreements to any of the 22 Apple rivals.
11 year deal with Reliance Jio World Drive mall
Additionally, the Ambani-owned mall in Mumbai has a 11-year deal with Apple for a total space of around 20,800 square feet. According to the report, ₹ 42 lakh will be paid in rent, with a 2 percent revenue share contribution for the first three years, and then increased by 15 per cent every three years. The report also adds that the revenue share contribution will increase to 2.5 per cent after the first three years.
A barricade marking Apple's upcoming brick-and-mortar store opening has been unveiled at Jio World Drive Mall in Mumbai. This Apple BKC creative is influenced by the iconic 'Kaali Peeli' taxi art of Mumbai, which in addition also incorporates a variety of Apple products and services.
Interestingly, the creative for the store also has a bright welcome to people passing by with the classic Apple greeting, "Hello Mumbai".
Apple will also possibly launch a retail store in New Delhi at a later date.
