This story was originally published on the Benzinga India Portal.
Apple Inc (NASDAQ: AAPL) has ambitious plans to grow its retail presence in Asia, Europe, and the United States, with a particular focus on key markets like India.
What Happened? According to a Bloomberg report, Apple is planning to open three new flagship stores in India. It has chosen New Delhi’s DLF Promenade Mall for one store, with a targeted launch in March 2026. The other two stores are set to open in Mumbai’s Borivali and Worli in June 2025 and November 2027, respectively.
Over the next four years, the tech giant aims to launch 15 new stores across the Asia-Pacific region, according to Bloomberg’s sources.
In addition, Apple plans to open new locations in West Asia and Europe and revamp or relocate existing stores in Asia, Europe, and North America. In total, Apple’s expansion strategy involves 53 new, relocated or remodeled stores.
In April, CEO Tim Cook celebrated the opening of two flagship stores in Mumbai and New Delhi, reflecting the company’s belief in India as a significant growth market.
The Cupertino giant also has plans to launch flagship stores in Seoul's Hongdae and Shanghai’s popular Jing’an Temple Plaza, with projected opening dates in December 2023 and March 2024, respectively.
Currently, Apple operates over 520 stores in 26 countries worldwide, with half of them located in the US.
While a significant part of Apple’s revenue comes from online sales, physical stores play a crucial role in promoting and selling premium Apple products, particularly in growing economies like India, where the brand’s aspirational value is high.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article Apple Plans To Add At Least 3 More Flagship Stores In India As Part Of Retail Expansion Blueprint originally appeared on Benzinga.com
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.