FP StaffDec 13, 2022 15:33:41 IST
After getting into the production of iPhones in India, the Tata Group is now planning to open about 100 small exclusive Apple stores of 500-600 sq ft each across the country. Apple is in talks with Infiniti Retail. Infiniti Retail is the same division under the Tata Group that owns and operates the chain Croma across India.
India has emerged to be a major market for Apple, especially when it comes to iPhones and wearables, because of which Apple wants to increase its presence in India. Tata hopes to turn India into a manufacturing hub for iPhones, and soon be a major exporter of Apple products.
The Apple stores will be opened in malls as well as high-street and neighbourhood locations and will be smaller than Apple Premium Reseller stores. Typically, Premium Reseller stores spread over 1,000 sq ft. The smaller stores will sell iPhones, iPads and watches. Tata has already started discussions with premium malls and high streets for space.
Apple’s first company-owned flagship store is likely to launch in India in March in Mumbai in 2023. Apple had told its local franchise partners that its company-owned stores increase sales for both partners and retailers.
According to a report by CyberMedia Research (CMR), the sales volume of iPhones in India was over 1.7 million between July and September.
Apple is focussing on boosting sales in India and planning to expand its production capability. Apple has also told the three producers in India, Wistron, Foxconn and Pegatron, to triple their production in the next two years. The Cupertino-based tech giant is adding manpower and assembly lines to achieve that.
India has emerged to be a major market for Apple, especially when it comes iPhones and wearables. That is the reason why Apple wants to increase its presence in India, through company-owned retail stores as well as production facilities. Tata, recognising this, had decided to get involved with the production and sale of the iPhone, anticipating that within the next 5 years, Apple will be exporting a significant portion of the iPhones that is manufactured in India
The latest development comes less than two weeks after the Economic Times reported that the Tata Group was in talks to buy Wistron Corp’s only iPhone factory in India, for a record $605 million.
Another reason why Apple is looking to expand the number of retail stores that they and Tata own, maybe has to do with the fact that several authorised resellers and other outlets have taken advantage of the shortage of the iPhone 14 Pro models, and sold them at a premium, and in black.
