The newly launched Apple stores in Mumbai and Delhi are each earning 22-25 crore a month via the sales. This basically means that Apple is making a total of 44-50 crores per month, which is huge.
Apple stores in Mumbai and Delhi earn 50 crore a month via sales, higher than other stores in India
It seems that Apple launching its two exclusive stores in Mumbai and Delhi worked greatly in its favour. The company is earning big in terms of revenue through its offline stores that were recently launched in India.
The stores in Mumbai and Delhi are each earning 22-25 crore a month via the sales, two industry executives who are aware of the details told Economic Times. This basically means that Apple is making a total of 44-50 crores per month, which is huge. The cited source claims that this amount is two times higher than other electronics stores in the country, even during the non-Diwali period.
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The revenue growth is not surprising because Apple devices sell at a very premium price and so, even if the sale numbers are not very high, the company would still earn well enough. This is something that the mentioned sources have also suggested.
"The two company-owned Apple Stores in India are setting new benchmarks in terms of absolute and per-square feet revenue," one of the executives said. "This is due to the fact that the average selling price (ASP) of Apple products is much higher, which leads to higher revenue, and (since) footfall is still high, with both stores remaining crowded on any given day. The sales have far exceeded Apple's own internal estimates," the cited source added.
To recall, Apple first opened its Mumbai store on April 18 and then an outlet in New Delhi just after a few days. The company’s CEO Tim Cook visited India to inaugurate the exclusive offline stores and was surprised to see thousands of people standing outside the stores for the launch.
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The report revealed that Apple’s BKC store in Mumbai earned over Rs 10 crore on the first day of the opening, which is about Rs 2-3 crore less than other large offline electronics stores. The other large outlets earn about 3-5 crore of maximum revenue during Diwali, as per the source.
Interestingly, the rent for Apple’s Delhi store is very higher than Mumbai store, despite it having less than half the 22,000 square feet of Apple BKC. Some recent reports have claimed that the company is paying Rs 40 lakh per month for the rent of Delhi store, which is a very small outlet. It is being said that as many as 6,000 people visited on the opening day of the stores.
Published By:
Ankita Garg
Published On:
Jun 1, 2023
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