Apple Files Application to Set Up Retail Stores in India
Amid growing concerns over the stagnating economies in the western markets, and slowing pace of its own sales in China, Cupertino-based tech giant, Apple Inc, is looking for new markets to expand its business to. On that list of unconquered lands for Apple, India finds itself at the top.
Apple which has seen a jump of 90% in sales in the country during the last fiscal year is zooming in increasingly on India as the new frontier for its products. To Apple’s credit the company has been quietly building infrastructure for such a move by boosting advertising, logistics network, and most importantly lowering prices for old phones to start making deeper inroads into the homes of millions of customers.
The next step in this process it seems will be Apple setting up shop in the country. The company plans to bring to Indian customers its very own Apple Stores in the coming months. These stores which are renowned world over for encapsulating Apple’s DNA in their ambience and design will soon start selling you the whole Apple experience.
According to reports, Apple Inc. has filed an application with the department of industrial policy and promotion (DIPP) to open its own branded stores in India. “We have just received Apple’s proposal. We are examining it,” said DIPP secretary Amitabh Kant.
Apple already has over 460 branded stores worldwide, but there is no information as of now regarding how many such stores Apple wants to set up in India. The move comes on the heels of the government easing foreign direct investment (FDI) rules for single-brand retail in the country. According to new rules, the government has relaxed the mandatory local procurement stipulation for technology manufacturing companies and allowed single-brand retail permission holders to sell their products directly online.
Apple along with its own branded stores also plans to set up mini stores within stores in a bid to promote its brand. The first set of these could be seen opening at Chroma in the near future.
