22 rival brands banned from opening shops near India’s first Apple retail store in Mumbai

The first retail store of Apple is likely to open at the end of this month in Mumbai. The first store of Apple in India will opened in Jio World Drive mall, owned by businessman Mukesh Ambani in Bandra Kurla Complex (BKC) area. While the launch of the store is much-awaited, it has been reported that according to an agreement around 22 competing brands are banned from opening shops or having advertisements near Apple’s first store.

As per the agreement, the 21 rival brands that cannot open stores near Apple BKC are Amazon, Facebook, Google, LG, Microsoft, Sony, Twitter, Bose, Dell, Devialet, Foxconn, Garmin, Hitachi, HP, HTC, IBM, Intel, Lenovo, Nest, Panasonic and Toshiba. It is speculated that the 22nd brand will be Samsung. 

According to the agreement, Apple has a lease for over 11 years with a 15 per cent rent escalation provision every three years with the Jio World Drive Mall in Mumbai. Apart from this, the company will also reportedly pay a "minimum guarantee" of Rs 42 lakh per month. 

Apple’s first retail store in India

 Apple is all set to open its first retail store in India in Mumbai. “Hello Mumbai,” the company’s website read. “We are getting ready to welcome you aboard our first store in India. And raring to see where your creativity takes you at Apple BKC.” 

Notably, India has become a huge market for the California-based company, which launched an online retail store in the country in 2020. With the launch plans delayed in 2021 due to COVID-19, Apple is finally opening physical retail stores in India.