Google, Facebook, Amazon and 19 other brands can not open shops near Apple Mumbai’s Store

More details about the store have appeared online. As per a report by The Economic Times, 22 “competing brands” cannot own space or have advertisements near Apple’s first store in the country. The report quotes an exclusive lease agreement that was obtained by information analytics company CRE Matrix.

As per the agreement, Apple will have a lease of over 11 years with the Mukesh Ambani-owned Jio World Drive Mall. The Apple Store will be located in a space of around 20,800 square feet. Apple will pay a monthly rent of ₹42 lakh with an annual increase of 15 per cent. Additionally, the company will share 2 per cent of its revenue share for the first three years. Post this, the revenue share contribution will increase to 2.5 per cent.

Which brands can not have stores near Apple Store in Mumbai?

Now, coming to the list of stores that can not open stores near Apple BKC. There will be 22 rival brands, however, the list names only 21 that includes – Amazon, Facebook, Google, LG, Microsoft, Sony, Twitter, Bose, Dell, Devialet, Foxconn, Garmin, Hitachi, HP, HTC, IBM, Intel, Lenovo, Nest, Panasonic and Toshiba. Name of the 22nd competing brand could be Samsung.

Apple is reportedly planning to open another retail store in India. The second store will be located in New Delhi. However, the New Delhi one will be a smaller one as compared to the Apple BKC Store in Mumbai. Details of the upcoming Apple Mumbai store as officially confirmed by the company are as follows:

• Logo at the Apple BKC is inspired by Mumbai’s iconic Kaali Peeli taxi art.
• The Apple BKC store will welcome people with the classic Apple greeting “Hello Mumbai”.
• Apple has created a special playlist on Apple Music to celebrate the opening of its first-ever India retail store.

Apple has not announced as to when the store will become fully operational, but as per rumours, it may open as early as April.