Apple Inc., one of the most successful companies in the world, is poised to open its first ever retail stores in India next week. The two new stores, located in Bengaluru and Mumbai, will be Apple’s first venture into the world’s second-most populous nation and will mark the company’s stride in the country’s emerging market.
The opening of the two stores symbolizes Apple’s ambition to drive further growth in the nation, which is expected to become the third-largest economy in the world soon. Apple’s first foray into Indian retail comes after a long wait for the company; for the past 22 years, Apple has largely relied on third-party retailers in India to market and sell its products.
The opening of the stores follows Apple’s announcement in November that it would expand its operations within India, sensing the tremendous opportunity in the traditionally untapped market. As an emerging market, India offers significant potential for growth for the tech giant.
During the announcement, Apple CEO Tim Cook stated that India was an important market for Apple and that the company was looking forward to gaining stronger foothold within the market. He further said that the company was paying keen attention to the Indian market and had already launched two business initiatives in India. The first is the Apple Developer Academy, which provides training sessions on topics including software development, app development and coding. The second is a $25 million investment in an app development hub in Bengaluru, Apple’s first such center in India.
The announcement of these initiatives sent positive signals that Apple is serious about tapping into the tremendous potential of the Indian market. Now, with the opening of its first retail stores, Apple can continue to drive increased sales and market share in the nation.
For Apple, India is a great opportunity to expand its reach and profit margins in an untapped market. With its new retail stores, and the initiatives already announced, Apple sees India as the perfect place to further cement its presence in the technology world.
