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Apple Officially Opens First Store in India
Posted
April 18, 2023
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April 18, 2023
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0:55Now PlayingChief Executive Officer Tim Cook officially opened Apple Inc.’s first company-owned store in India, betting the iPhone maker’s retail outlets will help accelerate sales growth.
Cook, dressed in gray pants, blue half-sleeve shirt and sneakers, hugged the first customers and posed for selfies with them at the shop’s launch in the financial hub of Mumbai on Tuesday. Dozens of staff dressed in green T-shirts chanted “BKC!, BKC!,” referring to the Bandra-Kurla Complex business district where the store is located.
Apple is targeting the country of 1.4 billion to revive global revenue growth and diversify its manufacturing footprint beyond China. The company’s sales in India hit a new high of almost $6 billion in the year through March, highlighting the market’s increasing importance.
Years in the works, Apple finally launched outlets in India after meeting regulators’ demands, including sourcing some of the products locally. With tech demand slowing globally, Apple has identified India’s expanding middle class as an attractive opportunity and it’s also adding production in the country at an increasing rate.
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